Approximately 4 Million TRY Investment in BirYudumKitap from APY Ventures and Teknasyon

BirYudumKitap, a mobile application that offers countless book summaries and stories to its users, has received investment from APY Ventures and Teknasyon.

Last week, BirYudumKitap— which shared its 2020 data and surpassed 150,000 downloads— announced that it has secured a new round of investment.

Teknasyon, which has been on the agenda with its recent investments and international expansion of startups, and APY Ventures, which invests in entrepreneurs from early-stage to advanced-stage through its three different funds (the investment was made via Albaraka Portfolio Startup Venture Capital Investment Fund), have come together to invest in BirYudumKitap. The app aims to adapt reading habits to modern times and accelerate access to knowledge by ارائه offering book summaries and stories in short formats.

Founded by Alparslan Demir and Ramazan Arslan, BirYudumKitap started as an email newsletter in 2015 with the goal of transforming reading habits in Turkey. With its digital products and social impact methods, it has received numerous recognitions and awards both nationally and internationally, including ChangemakerXChange (2016), Bilgi University Social Incubation Center (2017), BBVA Momentum Global (2018), International Youth Foundation YAN (2018), Yunus & Youth (2019), and Forbes 30 Under 30 Turkey (2019). In 2020, the company transformed its business model into a mobile application, which currently has over 150,000 users.

Approximately 4 Million TRY Investment

Evaluating the investment round, which could total around 4 million TRY, Alparslan Demir stated that they plan to expand in the short term to countries where English, Spanish, Portuguese, and Russian are spoken. He also emphasized that, beyond the financial support, the experience their new partners bring in global growth will help them become a strong player in international audiobook markets.

Teknasyon continues to support startups in expanding globally through its Rockads Global Growth Program. Teknasyon’s CIO, Onur Kurugöl, commented on the investment:

“We believe that the BirYudumKitap application, which has already proven its success in our country, will achieve strong results in international markets as well. We will always support initiatives that adapt to the fast-paced modern lifestyle and have global ambitions.”

APY Ventures, operating under Albaraka Portfolio Management, continues to invest in startups. Albaraka Portfolio CEO Emin Özer stated:

“We are pleased that BirYudumKitap, one of the rising startups during the pandemic, is the second investment of the Albaraka Portfolio Startup Venture Capital Investment Fund. As also a part of the Albaraka Garage initiative, we believe BirYudumKitap will achieve great success in global markets. In 2021, we will continue to support entrepreneurs through different funds under APY Ventures.”