Cerebrum Tech, which attracted serious attention due to its increasing momentum since establishment, has received an investment of $1.7 million (TL 12 million), the company announced Thursday.

The investment in the Istanbul-based software firm was made based on its $7-million valuation.

The venture was founded in 2021 by Erdem Erkul, a successful name in the world of business and economy, with the aim of bringing new life and innovation to the field of technology.

Cerebrum Tech’s main business areas include artificial intelligence (AI), data analytics, robotics, blockchain, application development, augmented reality/virtual reality (AR/VR) technologies and cybersecurity.

The company has simultaneously inaugurated its offices in Ankara, Istanbul, San Francisco, London and Seoul.

Growth on a global scale

"In the future, we will grow and develop this ecosystem both locally and globally," Cerebrum Tech founder Chairperson Erkul said.

"Thanks to this investment, we will improve our infrastructure works and operations. We aim to be an international-level digital transformation company. As we set out, we said we were after what we do not know, not what we knew. We continue to take firm steps on this path," he noted.

Investments play a vital role in startups. Investments in innovative ventures are on the rise and are vital for the ecosystem to grow in Turkey. Regardless of economic parameters, companies that have reached a certain maturity can receive investment. This not only indicates their capabilities but also signals their growth potential.