Turkish Startup Exar Receives Investment at $2.4 Million Valuation

Exar is a Turkish startup that develops solutions focused on augmented and virtual reality. According to the information obtained, it received an investment at a valuation of 2.4 million dollars. The investment came from Actonn VC, Soner Babüroğlu and Ozan Kozan. In addition to strengthening Exar's R&D activities, it will also be used for the company's growth in foreign markets.

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Turkish Startup Exar

Exar was founded in 2022 by Emir Coşkun, Hasan Koyuncu and Murathan Demirci. Its focus is on augmented and virtual reality technologies. Virtual factory tours, remotely managed technical/mechanical operations, CAD-synchronized virtual product experience tools and augmented reality supported visual simulations. Not only limited to augmented and virtual reality technologies, Exar also develops artificial intelligence-oriented solutions.

What is Exar's main objective? The company aims to create technological ecosystems by developing solutions in the field of artificial intelligence integrations, Internet of Things (IoT) and cloud systems. Sharing that this investment will be used strategically to strengthen the company's R&D activities and expand in foreign markets, Exar co-founder Hasan Koyuncu stated that these resources will be directed to R&D projects to increase their competitive advantage through innovation and technological developments. At the same time, he added, they will be spent on market development activities to strengthen their presence in the international arena.