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Turkey-based Startup Cerebrum Tech Secures $1.8 Million Investment Led by Bogazici Ventures VC

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Cerebrum funding

Cerebrum Tech, a pioneering technology company, celebrated for its recent innovations such as Cere and Cere Insight in the field of generative artificial intelligence, has successfully secured a substantial investment of $1.8 million, valuing the company at $15 million. This achievement was made possible through the collective support of individual and institutional investors, under the leadership of Boğaziçi Ventures, one of Türkiye’s foremost Venture Capital companies. This investment not only signifies a substantial vote of confidence in Cerebrum Tech’s endeavors but also positions the company for further growth and innovation in the dynamic realm of generative artificial intelligence.

Cerebrum Tech, a visionary venture studio recognized for its outstanding products and solutions across diverse sectors, including artificial intelligence, finance, industry, e-commerce, and Web3, has successfully secured a noteworthy investment of $1.8 million. This investment was led by Boğaziçi Ventures, a leading name in Türkiye’s technology-focused venture capital landscape. The valuation of this achievement stands at an impressive $15 million.

The investment process was realized with the enthusiastic participation of both individual and institutional investors, marking an important milestone for Cerebrum Tech. This strategic collaboration will see Cerebrum Tech become an integral part of the BV Growth Venture Capital Investment Fund’s portfolio, which boasts participation from a range of forward-thinking investors, both individual and institutional alike.

In March, Cerebrum Tech unveiled Cere, a groundbreaking artificial intelligence application. Available in both personal and corporate versions, Cere is one of the first AI applications to leverage 3D avatars, offering a dynamic and immersive experience. Following this remarkable launch, September witnessed the introduction of Cere Insight, an innovative addition to the realm of artificial intelligence. Cere Insight stands out with its unique capabilities, allowing users to efficiently summarize extensive documents with multi-file support, and extract valuable insights from large datasets. Notably, it accomplishes this without necessitating coding expertise, thanks to its advanced LLM technology. Moreover, it empowers users to effortlessly create customizable chatbots with seamless web integration, delivering a transformative experience.

Cerebrum Tech has consistently championed pioneering initiatives across various sectors. From artificial intelligence and internet of things to finance and the dynamic Web3 sphere, Cerebrum Tech continues to make indelible contributions to the evolving technology landscape.

“Our aspiration is to fortify our presence in the global market through the international investments we’ve garnered from day one”

“Our aspiration is to fortify our presence in the global market through the international investments we’ve garnered from day one,” affirmed Dr. Erdem Erkul, Founder and Chairman of the Board of Directors at Cerebrum Tech, an esteemed leader in Türkiye’s artificial intelligence landscape. He elaborated on the company’s journey, stating, “When Cerebrum Tech set its course in 2021, we committed to fostering the growth of the technology entrepreneurship ecosystem in our homeland and establishing ourselves as a distinguished new-generation technology firm on the global stage. The partnership with Boğaziçi Ventures, I believe, is a pivotal step towards achieving our ambitious goals. We will persistently innovate and scale our existing products to cater to the evolving landscape of new-generation technologies, including artificial intelligence, which is already shaping the future, for the global audience.”

In addition to Boğaziçi Ventures, a prominent investment company in Türkiye, and a group of international investors, Cerebrum Tech has garnered support from Inveo Ventures Coinvestment Venture Capital Investment Fund. This forward-thinking fund specializes in investing in future technologies, aligning seamlessly with Cerebrum Tech’s commitment to innovation.

Furthermore, Cerebrum Tech remains bolstered by individual investors, notably including Faruk Eczacıbaşı, one of the company’s early backers. His continued involvement in this investment round underscores the unwavering commitment to Cerebrum Tech’s growth and success among individual investors.

“Cerebrum Tech is set to assume a pivotal role within our portfolio”

“Cerebrum Tech is set to assume a pivotal role within our portfolio,” declared Barış Özistek, Managing Partner of Boğaziçi Ventures. Boğaziçi Ventures, renowned for its unwavering focus on innovative technologies and disruptive innovation, has added Cerebrum Tech to its roster of investments. Cerebrum Tech, one of Türkiye’s standout success stories in the fields of artificial intelligence and Web 3.0, has exhibited remarkable growth and potential in recent years.

“In 2023, Boğaziçi Ventures maintains its steadfast commitment to investing in visionary projects driven by technology. This approach, rooted in constructive disruption, is instrumental in shaping the future. Cerebrum Tech, now a proud member of our BV Growth Venture Capital Investment Fund, has rapidly ascended to become one of the flagship projects within our expansive portfolio.”

“An Investment Paving the Way for a Bright Future”

Boğaziçi Ventures, a trailblazing name in Türkiye’s alternative asset management sector, is on a mission to invest in the future by emphasizing projects that bring intrinsic value, distinct from the conventional investment management approach. Boğaziçi Ventures wholeheartedly believes in the potential of technology and technology entrepreneurs in our homeland. In each of our investments, we go beyond mere financial contributions, standing shoulder-to-shoulder with our portfolio companies throughout their journey as a dedicated team. We bolster them with our wealth of knowledge, experience, and an extensive network of resources.

As we embark on the shared journey of fostering Cerebrum Tech’s growth, we take immense pride in the opportunity to co-author a new chapter of success within the vibrant entrepreneurship ecosystem of our nation. This investment embodies our unwavering commitment to catalyze innovation and pave the way for a brighter future.”

About Cerebrum Tech:

Established in 2021, Cerebrum Tech is a forward-thinking venture studio dedicated to pioneering solutions in key sectors like Artificial Intelligence, the Internet of Things, finance, e-commerce, and Web3. Fueled by a team of experts, Cerebrum Tech excels in driving digital transformation, developing innovative, globally recognized applications in artificial intelligence, Web3, data security, consultancy, as well as smart cities and sustainability. At the heart of Cerebrum Tech’s mission is a vision to be a trusted leader in next-generation technology operating from strategic locations, including Silicon Valley, Istanbul, Seoul, Ankara, the Netherlands, Malta, and London, It’s a venture studio firmly rooted in its belief in harnessing the potential of young talent.

About Boğaziçi Ventures:

Boğaziçi Ventures stands as a preeminent alternative investment firm, specializing in the conception and management of funds dedicated to technology companies across various sectors and global territories. Their commitment lies in generating substantial added value for the companies they invest in.

With a distinguished history of investment decisions that have impacted over 100 technology companies, Boğaziçi Ventures takes an active role in nurturing technology startups. The firm’s partners and team actively engage with entrepreneurs, providing guidance, mentorship, and invaluable knowledge transfer to steer them toward international success.

Boğaziçi Ventures encompasses a group of companies that establish and oversee specialized funds tailored to the unique requirements of investors. Additionally, the firm offers secure custody services for digital currencies, catering to the evolving needs of the digital economy.

A subsidiary of Boğaziçi Ventures, BV Asset Management, plays a pivotal role in assisting both individual and institutional investors in establishing and managing mutual funds, in accordance with the regulations of the Capital Markets Law.

Distinguished by its innovative approach, BV Asset Management establishes and oversees funds that are intricately tied to technology, providing opportunities to invest in publicly traded technology companies.

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Mappable launches Neurogeocoder API to revolutionize mapping solutions for UAE businesses

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Mappable

Mappable, a global company that brings powerful and highly customizable mapping solutions to the local markets, announces the launch of its new product — the Neurogeocoder API, which is now available to all clients in the UAE.

The Neurogeocoder API, powered by machine learning and AI, is a game-changer in geospatial solutions, particularly in light of the projected 14.2% CAGR growth of the global digital map market by 2030. Unlike standard geocoders with fixed algorithms set by the development team, Neurogeocoder’s adaptive nature ensures precise results, even with unstructured location queries containing errors or typos. This advanced tool allows for the seamless display of user-entered addresses on maps and facilitates the transformation of map points into detailed street addresses, ensuring precise and reliable location results. By recognizing local expressions for districts, towers, and roads, the Neurogeocoder effectively links them to specific addresses or points, a feat beyond the capabilities of standard geocoders.

The Neurogeocoder API is a powerful tool for various industries, including e-commerce, real estate, food-tech, ride-tech, and logistics. It helps quickly translate large address volumes into coordinates and vice versa, as well as process intricate or locally specific location queries for different business scenarios. For e-commerce, the Neurogeocoder can enhance customer service by displaying pickup points on maps, allowing users to choose the most convenient location when placing orders. For real estate companies, the tool can accurately showcase property locations, helping potential buyers visualize the surroundings to make informed decisions when considering a purchase. For logistics services, the API optimizes operations by providing accurate addresses to managers for better cost estimation of deliveries, leading to increased operational efficiency and cost savings for the business.

In addition to the Neurogeocoder API, Mappable offers a comprehensive suite of solutions tailored to multiple business needs:

  • Performative, customizable, and data-rich maps for clients’ websites, apps, or CRM.
  • Automatic geo verification and easy search by address, coordinates, and other parameters.
  • Navigation and route planning tools that take into account traffic and weather forecasts as well as other parameters, to help drivers, couriers, and other professionals efficiently move around the country.

“The UAE is rapidly progressing in the fields of technology, e-commerce, and smart mobility and we’re excited to support businesses on this journey. Mappable solutions allow companies to optimize logistics and enhance customer service quality by automating processes and reducing workloads on internal personnel, call centers and order-processing specialists. We know what local businesses need and are constantly updating our products, using machine learning and AI to give our clients the best possible mapping solutions. The newly launched Neurogeocoder is a great example of this. It understands our address-inputting habits and adapts to them”, explained Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable.

Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable

All Mappable solutions provide extensive customization opportunities, and a wide range of licensing choices. The company has also launched an online self-service desk, which gives easy and fast access to its APIs — for trial or license purchase. More information can be found at mappable.world.

About Mappable:

Mappable is a global mapping and geospatial solutions provider based in the UAE, offering powerful and customizable business solutions to local markets. With a focus on innovation and precision, Mappable provides cutting-edge mapping, geospatial, and navigation technologies to meet the diverse business needs of e-commerce platforms, retail chains, logistics and delivery firms, manufacturing enterprises, ride-tech and food-tech companies, telecommunications corporations, banks, as well as the public sector.

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Yango showcases latest innovations to transform urban transport at Mobility Live ME

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Abu Dhabi, UAE, Yango, an international tech company, made a significant impact as the Silver Sponsor at Mobility Live ME, the region’s most crucial event focusing on disruptive technology in mobility. Being committed to leveraging the power of technology to improve its users’ lives, Yango showcased its latest products and innovations and presented insights tailored to the MENA region’s evolving demands.

Building on its reputation for unique service offerings, the company recently launched Yango Drive, a comprehensive car rental marketplace integrated within the Yango SuperApp that is gaining substantial traction in Dubai. It features a digital booking system that offers an array of 3,500 cars, providing a seamless, high-quality rental experience from booking to return. This service reflects Yango’s commitment to comfort, convenience, and sustainability, supporting the shift towards shared mobility and aligning with the UAE’s Net Zero 2050 and Dubai Urban Plan 2040 initiatives.

Furthermore, in alignment with its dedication to enriching local communities, the ‘Prayer Mode’ for Muslim drivers was recently launched during the holy month of Ramadan. This feature facilitates drivers’ adherence to prayer schedules and includes innovative mapping and smart routing technologies to locate the nearest mosques. The app also mutes notifications during prayer times and provides directions to the Qibla, ensuring drivers can seamlessly balance their professional responsibilities with their religious practices.

Islam Abdul Karim, General Manager, Yango GCC, said: “We have seen great demand for our services since our entry into the market and are dedicated to developing a safe and comfortable urban transport system to keep up with this demand. With technology at the heart of our mission, we are not just responding to the current status but are actively shaping the future of mobility with innovative solutions and features. We will continue to set new standards in the industry, contributing to creating smart, sustainable cities.”

Islam spoke in a panel discussion at Mobility Live: “Movers and Shapers: Shining a Spotlight on the Game-Changers in Modern Transport Systems.” Shashi Shekhar Singh, Director of New Markets at Yango, delivered a keynote speech on the “Future of Mobility,” delving into how the company redefines urban mobility.

The company’s commitment to innovation is reflected in its diverse range of services, including Yango Maps, Yango ride-hailing service, Yango Play, Yango Tech, the advanced Arabic human-like AI voice assistant Yasmina, and many more, all of which are designed to enhance the everyday lives of local communities. As one of the leading apps in the region, the company is committed to supporting local transport providers, creating jobs, and fostering long-term partnerships with local communities and governments.

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Trident IoT Launches Taurus Z-Wave Series Silicon

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Chip series and SDK support next-generation Z-Wave capabilities for the global market.

Trident IoT, an RF technology and engineering company focused on decreasing time-to-market for connected device manufacturers, today announced the release of the new Taurus Z-Wave Series of silicon solutions.

The Trident IoT Taurus Z-Wave Series will encompass system-on-chip (SoC) solutions and modules that support the latest advancements in Z-Wave technology, including Z-Wave Long Range (ZWLR) for the U.S. and the implementation of the ZWLR European specification. The Taurus Z-Wave Series will ship with an SDK based on Open Z-Wave Specification Release 2024A.

“The Taurus Series gives global manufacturers access to cutting-edge Z-Wave capabilities,” said Trident IoT co-founder Bill Scheffler. “This silicon series and SDK will be the first to implement the ZWLR European specification, accelerating IoT product development worldwide.”

Taurus Series Silicon Specifications
The Taurus Series is based on an ultra-low power, high performance Z-Wave SoC. The Taurus SoC solution is designed to enable Z-Wave solutions with class-leading battery life, range, and memory.

Taurus Series chips feature an ARM® Cortex®-M33 microprocessor, 1MB of flash program memory, and 288KB of SRAM data memory for exceptional processing and response time. The powerful sub-GHz radios transmit at +20dBm and +14 dBm, enabling communication over distances up to 1+ miles.

Taurus chips support Z-Wave Plus, Z-Wave Plus v2 and ZWLR, enabling the development of highly secure, reliable, scalable, and backwards-compatible solutions for smart home, hospitality, multi-dwelling units and more. Using the ZWLR 12-bit addressing space, the Taurus Series supports networks of up to 4000 nodes; Taurus chips also leverage ZWLR dynamic power control, enabling end point battery life of up to ten years from a single coin-cell battery.

“ZWLR is a revolutionary technology, with the power to expand the reach, scale and utility of IoT applications while preserving full backward compatibility with currently deployed Z-Wave devices,” said Avi Rosenthal, Z-Wave Alliance Chairman of the Board. “This new Z-Wave silicon offering, paired with the Trident IoT SDK and design services, will enable more Z-Wave Alliance members to take advantage of ZWLR capabilities, bringing exciting new products to market faster around the globe.”

End-to-End Product Development Support
In line with the company’s mission to decrease time-to-market for IoT devices, Trident IoT will offer end-to-end engineering consultation for new products integrating Taurus Series silicon. In addition to the Taurus Series SDK, Trident IoT customers will also have access to an exclusive library of both Z-Wave and ZWLR device and sensor reference designs, created to accelerate the development of innovative new edge-of-property applications.

Trident IoT also offers in-depth consulting from some of the industry’s foremost experts on wireless connectivity, including Z-Wave technology. “Trident IoT was launched in response to a gap in the availability of IoT product design services,” says Mariusz Malkowski, Trident IoT CTO and founder. “The demand for consultation has been extraordinary: in just six months we’ve had to double our engineering resources.”

To support the development of market-ready products, the Trident IoT lab is fully equipped and available for Z-Wave, Z-Wave Plus v2, and ZWLR end product compliance and testing.

By providing silicon, design services, and in-house compliance testing, Trident IoT can help device manufacturers decrease time-to-market for new Z-Wave products by more than 60%. According to Kevin Kraus, VP of Technology Alliances and IoT Business Development, Yale – Fortune Brands Innovation, “In-depth consulting services from the Trident IoT team will be an invaluable accelerator for Fortune Brands, helping us to bring new Z-Wave-certified products to market in the near future. With the launch of this new single-die silicon solution, we look forward to collaborating on new devices with next-generation capabilities, including long-range and potentially even multi-protocol devices.”

Taurus Series Previews for Product Developers
Taurus Series silicon will begin shipping at scale in Q4 2024. In the meantime, Trident IoT will issue Taurus Series samples to select partners for initial testing and product development.

About Trident IoT:
Trident IoT is a technology and engineering company focused on simplifying RF development, increasing product success rates, and decreasing time-to-market for connected device manufacturers. Founded by a team of IoT veterans with over a century of industry knowledge, Trident IoT is aimed at making connected devices work as intended. With an initial focus on companies manufacturing Z-Wave devices, Trident IoT seeks to expand and build new relationships through a human connection at every level, including certification and market knowledge. 

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