Uber (New York/UBER) has cemented its grip on Turkey’s tech sector, driving a surge in foreign capital that has masked an otherwise sluggish quarter for local venture capital investments, according to the quarterly Turkish Startup Investments report issued by KPMG and early-stage venture firm 212.

Startup investment in Turkey amounted to $559mn across 40 deals in the second quarter of this year. While the amount matched the headline figure seen in the first quarter, the figure conceals a structural shift in how capital is reaching Turkish tech. Buyouts by international heavyweights accounted for 81% of total transaction volume.

Driving the lion’s share of activity was San Francisco-headquartered Uber Technologies. Building on its $700mn acquisition of Trendyol Go last year, the ride-hailing and food delivery titan struck twice more in Turkey in 2Q, acquiring food delivery platform Getir Yemek outright for $335mn and buying a 15% stake in Getir’s retail logistics arm for $100m.

The twin transactions accounted for more than three-quarters of all venture capital deployed in the country between April and June.

Top 10 Turkish Startup Deals (Q2 2026)

Table: KPMG Türkiye / 212

Outside the delivery business, there was a continuing appetite for Turkey’s established mobile gaming cluster. Istanbul-based Grand Games, for instance, secured $70mn in an early-stage round led by London's Balderton Capital.

Saudi communications firm Unifonic, meanwhile, snapped up AI-powered marketing engine Segmentify for $20mn. AI startups dominated the quarter in terms of deal activity, recording seven seed-stage transactions totaling $7mn.

Globally, venture funding reached $227bn across 8,440 transactions in the second quarter, with the volume more than doubling year-on-year on the back of multi-billion-dollar megarounds for US and Asian AI labs, including Anthropic and DeepSeek.