FERASET funding news – FERASET Secures $4.5 Million in Seed Funding

Some of its popular apps include Hexa, Livensa, Aura, and Music AI. The company has already hit over 2 million downloads per month, and this number keeps growing rapidly.

Turkey, known for its strong mobile gaming industry and skilled talent, is now becoming an important player in the AI consumer app space, with it leading the way.

Co-founder and CEO H. Burak Demir, who previously had a successful exit in mobile gaming, has teamed up with other industry experts to create the next generation of AI-powered apps.

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Although AI consumer apps on mobile are still new and the industry hasn't seen its first big success yet, growing user retention shows that this could become a sustainable and scalable business.

H. Burak Demir, Co-founder & CEO of FERASET: “We are witnessing a paradigm shift in AI-powered consumer applications, and FERASET is positioned to lead this movement. With the backing of Play Ventures and e2vc, we will continue to push the boundaries of AI innovation, scale our operations, and bring groundbreaking AI products to a global audience.”

Harri Manninen, Founding Partner at Play Ventures, shared: “We’re excited to back FERASET as they combine their deep expertise in mobile gaming to the rapidly growing AI consumer app space. At Play Ventures, we see immense potential in this intersection of AI, gaming, and consumer and FERASET is perfectly positioned to lead the charge.”

According to Enis Hulli, General Partner at e2vc: "We’ve been prolific investors in both mobile gaming and enterprise AI. It was about time we focused on the intersection of the two, and the FERASET co-founding team was the best we’ve seen in the field, combining diverse experience in mobile product development, marketing, and enterprise AI."

This investment will help it to grow by expanding its team in Turkey, speeding up the development of new AI apps, and improving its current apps. A large part of the funding will also go towards marketing, aiming to increase app downloads and global subscribers.

About FERASET

FERASET creates next-generation apps by combining strong AI knowledge with the latest technology.