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Although it is known that global startup investments exceeded $81 billion in the third quarter of 2022, this figure signaled a slowdown in the previous quarter due to global economic trends. While the entrepreneurial ecosystem in Turkey performed well despite the global conditions, one of the last investment news of the year came from the plant-based food and snack producer.

*** This release is originally published in Turkish.

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TURKEY - In 2022, global venture investments were affected by macroeconomic developments. According to KPMG data, the total value of global startup investments in the third quarter of 2022 exceeded $81 billion. Despite a 33% decline compared to the previous quarter, the entrepreneurial ecosystem in Turkey continued to perform well in terms of investments. Data for the 3rd quarter indicated that the entrepreneurial ecosystem in Turkey saw a volume of 113 million dollars. One of the last investment news of the year came from plant-based food and snack producer SAF Nutrition. Standing out with its products such as super food, healthy snacks, and vegetable protein mixes, SAF Nutrition received an investment of 750 thousand dollars with a valuation of 15 million dollars from angel investors in the pre-Series A bridge investment tour.

Sharing his views on the investment, SAF Nutrition Co-Founder Tolga Tunçsav said, “We are completing 2022 with an investment of 750 thousand dollars from our angel investors in our pre-Series A bridge financing round, with the participation of our current investors Belis Üstünel, Şule Zorlu and Özge Yurr, as well as Ömer Üstünel. We aim to grow on the retail side by focusing on our overseas operations with the investment we have received.”

The nutritious food and healthy snack market is growing

Data from market research firm Data Bridge showed that the global nutritious food market will reach a size of $11 billion by 2029. In the healthy snack market, an annual compound growth of 6.6% is expected until 2030. Stating that consumers have been thinking more about nutrition, the foods they prefer and healthy living in recent years, Tolga Tunçsav said, “As SAF Nutrition, we design our products with the essence of nature with the belief that all goodness is in nature, and we create products that will support the care that consumers show for themselves, their health and their bodies. We offer an ever-expanding product range with superfoods, plant-based protein mixes, healthy snacks, ready-to-eat foods such as vegan meatballs, and products specifically for children and athletes. While producing with the reliable supply system we have created, we also care about respecting nature and using the products of local farmers from all over the world. We will work to demonstrate Turkey's leading role in the global healthy snacks market in international markets, with the strength we derive from the trust of our investors and our organic, gluten-free, 100% natural, added sugar-free, completely herbal and additive-free products. We started our first activities abroad in the UK and Germany markets.” 

“Right business idea, right brand image and quality products are met by the consumer”

Reminding that they completed the seed investment rounds attended by Belis Üstünel, Şule Zorlu and Özge Yur in the last months of 2021, SAF Nutrition Co-Founder Tolga Tunçsav concluded his evaluations with the following words: “One year later, we are partnering with another angel investor in this success story. The fact that we increased our valuation by 10 million dollars in this process proves that when the right business idea meets with the right brand image and qualified products, it can be found in the consumer. With the award we won at the Stevie Awards, one of the most prestigious awards in the business world in 2020, we have proven our success on an international scale. While accelerating our activities in international markets with an investment of 750 thousand dollars, we will increase our presence in physical stores in our country. We will add new ones to the important steps we have taken to embody the emotional bond we have established with our consumers, which we started with the store we opened in Kanyon in July, with consistent experiences at physical sales points.”