Turkey Development Fund

Turkey Development Fund is an economic development agency in Istanbul established in 2019 that aims to strengthen Turkey’s enterprise ecosystem by investing in new-generation startups and in investment vehicles that support sustainable development. It focuses on strategically important economic sectors and on growing the nascent venture capital ecosystem by directing capital to innovative companies that drive long-term growth.

Elif Altug

CEO and Board Member

Past deals in Industrial Automation

Simularge

Convertible Note in 2025
Simularge provides software solutions for factories, leveraging data monitoring, AI, and Digital Twins. Its tier-based SaaS products cater to varying levels of digitalization maturity, enhancing manufacturing operations and process efficiencies. By utilizing Simularge's tools, clients can save significant time and money.

ATAK

Pre Seed Round in 2024
ATAK is an engineering and manufacturing firm that develops advanced machinery and equipment for industrial purpose.

Adatech

Pre Seed Round in 2024
Adatech is a technology company that specializes in industrial automation, low current systems, and energy monitoring solutions.

BAEDynamiX

Pre Seed Round in 2024
BAEDynamiX is a technology company that provides services and solutions in engineering, robotics, and artificial intelligence technologies.

Pina Minds

Pre Seed Round in 2024
Pina Minds is a robotics engineering company providing self-learning robotics solutions that increase industrial productivity.

AirGemba

Pre Seed Round in 2024
AirGemba is a software company offering a cloud-based IIoT platform that seamlessly integrates LoRaWAN devices and MQTT gateways.

Spark Muhendislik

Pre Seed Round in 2024
Spark Muhendislik is a technology company that specializes in industrial automation, electrical contracting, and energy management services.

Golabs

Pre Seed Round in 2024
Golabs is a technology company that specializes in industrial automation, machine manufacturing, and software support services.

Simularge

Venture Round in 2023
Simularge provides software solutions for factories, leveraging data monitoring, AI, and Digital Twins. Its tier-based SaaS products cater to varying levels of digitalization maturity, enhancing manufacturing operations and process efficiencies. By utilizing Simularge's tools, clients can save significant time and money.

Milvus Robotics

Milvus Robotics is an Ankara-based developer of autonomous mobile robots focused on making robotic technology practical, accessible and beneficial for use in human environments. Founded in 2011, the company brings together experts from diverse backgrounds to advance AMR deployment. Its robots can safely handle heavy payloads and offer attachments for different applications, enabling clients to manage and monitor fleets remotely and in real time.
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