Number of Turkish unicorns rises to eight

ANKARA

(AA Photo)

The number of Turkish unicorns, known locally as “Turcorns,” has risen to eight after AI-focused technology company HubX reached a valuation of $1.2 billion following an investment of approximately $75 million.

HubX, founded in İzmir in 2022, raised around $75 million from Point72 Private Investments.
The transaction, carried out at a valuation of $1.2 billion, makes HubX Türkiye’s newest unicorn by placing the company among technology startups valued at more than $1 billion.

The investment marks HubX’s first external funding. The company has developed more than 40 mobile and web applications, including Nova, Wiser, DaVinci and Lotus Flow, and has reached more than 600 million users in over 190 countries.

Türkiye is now home to eight unicorns: Peak Games, Getir, Dream Games, Trendyol, Hepsiburada, Insider, Loom and, most recently, HubX. These companies have achieved unicorn status by surpassing the $1 billion valuation threshold.

The Turcorn 100 Program, launched by the Industry and Technology Ministry in 2022, aims to help create new billion-dollar companies in Türkiye.

The program supports technology-focused startups that have successfully passed the early-stage phase, possess strong growth potential and aim to expand into global markets.

The number of candidate startups in the Turcorn 100 Program reached 43 in the first half of the year. This represented nearly a twofold increase in 15 months from 23 startups in the program in March 2025.

The initiative aims to produce 100 Turcorns from Türkiye by 2030, increase the number of technology startups in the country to 100,000 and raise the combined valuation of Turkish unicorns to more than $100 billion.