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The Venture Codex

Turkey Development Fund

İnkılap Mahallesi, Dr. Adnan Büyükdeniz Cd. No:10, Ümraniye, Istanbul, 34768, Turkey

Overview

Turkey Development Fund aims to develop the enterprise ecosystem by investing in new generation startups.

Total investments
10
Lead investments
1
Investments · 12mo
6
Active investors
1

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Hardal

    Participated · Equity · May 2026

    Hardal provides a centralized data platform that collects complex data streams from websites, iOS and Android apps, CRM systems and various marketing tools, standardizing them into a single, secure infrastructure. The platform prepares cleaned and structured data for targeted analytics systems and digital advertising networks and makes AI-driven digital interactions traceable. Hardal positions its service as addressing measurement problems and data losses faced by companies, and as enabling firms to retain control of their own data. Management plans to use the $1.55 million raised to accelerate international expansion, increase product development and grow the expert team, while advancing the company's AI systems and infrastructure. Investors cited the team's experience and market validation as reasons for conviction in Hardal’s commercial and technical competitiveness. The company aims to strengthen its role within the MarTech ecosystem and scale from its established presence in Turkey and Europe to global markets.

  • QUBITRIUM

    Led · Seed · Apr 2026

    Founded in 2020 as a spin-off from QuTech and Özyeğin University, Qubitrium develops miniaturized, CubeSat-compatible quantum hardware such as entangled photon sources, single-photon detectors, and quantum memories. Its product ecosystem includes the QubitCore payload and the QubTag time tagger, aimed at enabling secure quantum key distribution (QKD) and sensing for aerospace and defense customers. The company recently reported a successful orbital deployment and validation of its quantum payload, which it describes as a validation phase for space-based quantum communication infrastructure. Qubitrium plans to use the €2.25M Seed-plus financing to expand its technical infrastructure and accelerate its go-to-market strategy. The financing was led by the Türkiye Development Fund and ACT Venture Partners.

  • Cendra

    Participated · Seed · Feb 2026

    Cendra is building an AI-driven operations layer for hospitality that embeds pre-trained, domain-specific autonomous agents into everyday property management workflows. These agents handle triage, decision-making, task creation, follow-ups and standard-operating-procedure enforcement across guest communications, property tasks and vendor coordination, escalating only true exceptions to humans. By connecting knowledge, decisions and execution, the platform helps hotel and short-term-rental operators scale portfolios without adding operational chaos. The product turns routine work into agent-run workflows that provide guardrails for consistency, safety and auditability. Looking ahead to 2026, Cendra plans to introduce AI-assisted cleaning and inspection workflows, deepen smart-home integrations with locks, thermostats and sensors, and evolve its UI into a review layer focused on activity timelines and exception management. The company has secured $1 million in seed funding to accelerate these integrations and increase the share of operational work completed end-to-end without human involvement. No additional revenue or user metrics were disclosed in the fundraising announcement.

  • Flowla

    Participated · Seed · Jan 2026

    Flowla is a London-based startup that turns the traditional digital sales room into a unified, branded workspace that spans the entire customer journey from proposal to onboarding. Its no-code platform lets revenue teams build predefined buyer journeys with templates, AI-generated content, and automated communication rules that trigger follow-ups based on real-time buyer behaviour. For example, when a prospect views pricing, Flowla can detect their role, draft a tailored email, alert the sales rep, and queue the message for review. Founded by CEO Erdem Gelal and CTO Oguz Gelal, the company targets the persistent manual gaps that slow complex B2B deals and cause misalignment between Sales and Customer Success. By automating stakeholder coordination and follow-ups, Flowla aims to create more predictable, repeatable revenue execution. The firm has raised a $2.5 million seed round and plans to invest the proceeds in expanding its automation engine, enhancing AI-driven content capabilities, and building a dedicated U.S. go-to-market team.

  • Mindsite

    Participated · Equity · Jan 2026

    Founded in 2019, Mindsite provides infrastructure that aggregates data from more than 500 retailers across 20+ countries, turning those insights into actionable recommendations for e-commerce teams. Its toolkit already includes Masterdata Agent, Growth Agent and Review Sentiment Analysis, and the company is now building a new AI agent designed to automate decision-making and execute actions in the field. Enterprise customers such as Colgate, Unilever, Arçelik, Watsons, Migros and Eczacıbaşı use the platform to monitor and manage digital shelf operations. Mindsite currently operates offices in the United Kingdom and Indonesia and intends to open new locations in Malaysia, Australia, the United Arab Emirates, Saudi Arabia and Brazil. The team also plans to pursue strategic acquisitions to expand its product capabilities and regional reach. With the latest capital injection, the company will continue scaling its global organization and accelerate development of AI-agent-based products.

Team