Tarentum, a leading artificial intelligence company based in Turkey with focus on renewable energy and gaming industries raised 1.4 million USD from Boğaziçi Ventures
Boğaziçi Ventures which is a leading alternative asset management company investing in technology companies through multiple funds under management invested 1.4 million USD in Tarentum which provides artificial intelligence and machine learning solutions for the renewable energy and gaming industries. The investment was deployed from BV Growth fund which focuses on early-stage companies in gaming, fintech, digital health and retailtech verticals.
Founding partners of Tarentum, Oğuz Silahtar, Bora Tokyay and Gün Makinabakan founded the company to develop disruptive technologies and solutions in artificial intelligence and machine learning after their bachelor and master’s degrees from reputable universities such as MIT, Lafayette College and Purdue University and long work experiences in leading companies in the USA. Strong team of 27 people have an average experience of over ten years in AI.
Boğaziçi Ventures announced the investment news for the first time on Youtube live stream by hosting Tarentum founding partners Oğuz Silahtar and Bora Tokyay. They talked about the founding process of Tarentum, the team and their activities in renewable energy, gaming and retail sectors. They emphasized the difference between the common, off-the-shelf AI solutions in the market and the AI-based solutions developed by Tarentum.
“We add value to energy and gaming companies with our artificial intelligence solutions provided by the best team in Turkey”
Oğuz Silahtar, one of the founding partners of Tarentum, said, “Since its establishment, as Tarentum, we have provided machine learning and artificial intelligence solutions to leading companies in different sectors in Turkey. Finally, we decided to focus on the gaming and energy sectors which we have been serving for 3 years. We perform digital advertising optimizations in the gaming sector and enable renewable energy plant owners to generate more revenue with our.”
Bora Tokyay, on the other hand, explained their product GrowAds developed for the mobile game industry as, “The rapid growth in the gaming industry is a topic that we all talk about and are aware of. But when we look at the marketing spent, we see that, at 30 percent year-on-year the growth there is even greater. This is not surprising considering that an increasing number of gaming studios and games are competing to convince the same potential users for downloading their game. We also noticed the amount of data needed to make the optimum decisions for user acquisition is simply too much for the human brain to handle. Seeing the big opportunity and the problem the industry is facing, we developed a product that uses artificial intelligence and machine learning to optimize digital marketing spend.”
Gün Makinabakan shared the approach underlying their products by saying “Thanks to the products we have developed, we have enabled business unit users who are not experts in data analysis to benefit from the wonders of artificial intelligence and machine learning. With our scalable infrastructure and strong team, we are rapidly advancing towards the use of these products in more widespread geographies.”
“I’m looking forward to the day when Tarentum will become a unicorn.”
Barış Özistek, founding partner of Boğaziçi Ventures, stated that the product developed by Tarentum is a solution that saves money for the global companies. Every company which is trying to scale globally needs Tarentum’s solutions for better profitability and it’s not a surprise that this product is developed in a fast-growing gaming ecosystem in Turkey. Barış Özistek added that scaling is unlimited for the gaming industry, but the competition in this sector is very intense and growth is challenging for this reason. He also shared his excitement about the solution offered by Tarentum and he is looking forward to the day when the company becomes a unicorn.
Founded in 2017, Tarentum has enabled many companies to increase their revenues with its artificial intelligence and machine learning solutions. It has been working with global gaming giants and local energy companies improving their efficiency, life-time value and user acquisition optimization. Knowing that creating a difference in the field of artificial intelligence is only possible with a team of experts, Tarentum has attached great importance to the quality of the team since the day it was founded.
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