FERASET Secures $4.5M Seed Investment to Lead AI App Growth
Deal News | Mar 24, 2025 | Play Ventures Oy
FERASET, a Turkish developer of AI-driven mobile applications, has secured a $4.5 million Seed investment from Play Ventures and e2vc. Based in Istanbul, the company specializes in apps across design, video, music, photo, and utility categories, boasting over 2 million downloads monthly. With Turkey’s burgeoning mobile gaming industry and a strong talent pool, FERASET, led by H. Burak Demir, is well-positioned to leverage its expertise to advance AI consumer applications. Play Ventures and e2vc support FERASET’s expansion efforts, aiming to broaden its team, accelerate AI app development, and expand its global user base. The investment underscores growing interest in the intersection of AI, gaming, and consumer trends.
Sectors
- Artificial Intelligence
- Mobile Applications
Geography
- Turkey – FERASET is headquartered in Istanbul, Turkey, and aims to expand its operations within the region.
Industry
- Artificial Intelligence – FERASET develops AI-powered consumer applications, indicating a core focus on artificial intelligence technology.
- Mobile Applications – FERASET specializes in mobile applications within the design, video, music, photo, and utility categories, placing it within this industry.
Financials
- $4.5 million – Seed investment raised by FERASET from Play Ventures and e2vc.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FERASET | Target Company | Company | A developer of AI-driven mobile applications based in Istanbul, Turkey. |
| Play Ventures | Investor | Company | A VC firm that has invested in FERASET, focusing on gaming and consumer tech industries. |
| e2vc | Investor | Company | A venture capital firm that has invested in FERASET, with a focus on mobile gaming and enterprise AI. |
| H. Burak Demir | Co-founder & CEO | Person | Co-founder of FERASET, previously led a successful exit in mobile gaming. |
| Harri Manninen | Founding Partner | Person | Founding Partner at Play Ventures, involved in the investment in FERASET. |
| Enis Hulli | General Partner | Person | General Partner at e2vc, supporting the investment in FERASET. |