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Deal 5: Tarentum Managing Partner Bora Tokyay on USD 1.4 Million Investment

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On June 1, 2021, CEE Legal Matters reported that the Ozbek law firm had advised Tarentum on Bogazici's Ventures investment of USD 1.4 million into Tarentum, a developer of machine learning and artificial intelligence technology solutions. CEE In-House Matters spoke with Bora Tokyay, Managing Director at Tarentum, to learn more about the matter.

CEEIHM: Let’s begin by telling our readers a bit about Tarentum.
Bora: Tarentum is an Artificial Intelligence powerhouse that, over the years, has solved some of the most challenging business problems for a variety of businesses in industries such as gaming, energy, banking, and e-commerce. In the last year, we have channeled all of our focus to two products where we've gained traction and are growing internationally. Our product for the gaming industry empowers marketing professionals with AI to optimize their operations in a hassle-free manner. Our renewable energy-focused product uses AI to maximize the revenue wind plant owners generate.

CEEIHM: You recently secured an investment from Bogazici Ventures. What do you believe made your company attractive to the investor?
Bora: I believe it was a combination of two things that made us attractive to the investor: First of all, our capability to bring together exceptional data science capabilities with solid software engineering expertise within a well-functioning team is quite unique. What complements that is our vision to leverage this core strength to make an impact in digital marketing and cleantech where the needs and opportunities are global and immense.

CEEIHM: What will the investment be used for?
Bora: The investment will be used for product development and global marketing & business development.

CEEIHM: Why did you choose Ozbek as your advisor?
Bora: Ozbek has been our advisor since we started the company. They were recommended to us by close friends of ours who also had successful startups and over the years we have acknowledged multiple times that it was the right decision to work with Ozbek for several reasons.

CEEIHM: What was Ozbek’s mandate on the deal?
Bora: Thanks to Ozbek's expertise, we were always confident that our interests were protected in the best way possible legally. Because of their dedication to us, we could see how they always put themselves in our shoes and "owned" our issues and concerns as if they were theirs. While some other advisors can have their own agenda, Ozbek understands our need as a startup to move fast and get deals done. Which was pretty much the mandate on the deal with Bogazici Ventures as well. We asked Ozbek to make sure the deal would be beneficial for us in the short term without having any clauses that would inhibit the future growth of the company. We are quite happy with the end result and appreciate that we couldn't have gotten to this point without Ozbek.

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