AI startup HubX becomes Turkey's eighth Turcorn with a $75 million investment

İzmir-based artificial intelligence-focused technology company HubX signed an investment agreement of approximately $75 million with Point72 Private Investments, becoming the startup that earned Turkey's eighth Turcorn title.

Investment Process and Valuation

Founded in İzmir in 2022, the artificial intelligence-focused technology company HubX reached an agreement to secure approximately $75 million in funding from Point72 Private Investments. This significant transaction, carried out at a valuation of $1.2 billion, established a new milestone in Turkey's technology ecosystem.

Initial External Financing and Growth

This massive investment was recorded as the first external funding received in the commercial life of HubX, which had grown organically without utilizing any external financing until now. The company successfully achieved its growth up to this stage using its own internal resources.

Global Market Presence

Developing over 40 mobile and web applications, including Nova, Wiser, DaVinci, and Lotus Flow, HubX has managed to deliver its innovative products to over 600 million global users across more than 190 countries.

Turkey's Turcorn Ecosystem

With HubX, the number of companies in Turkey that have surpassed the $1 billion valuation threshold to achieve unicorn or Turcorn status has risen to eight. The list includes Peak Games, Getir, Dream Games, Trendyol, Hepsiburada, Insider, Loom, and HubX.