Istanbul’s ‘Seagull’ will go public in the United States

Martı, one of the home mobility startups, is preparing for the public offering. According to the information obtained, the company, which is engaged in the rental of electric scooters, is the American Joint Venture Company (SPAC) Galata Acquisition Corp. It has completed its preparations to go public in New York.

According to the Bloomberg report, it is stated that the Initiative will use the proceeds from the IPO to expand its business scope and expand its existing fleet.

Martı, which has more than 7 million users in 20 cities in Turkey and serves a fleet of 50,000 vehicles, was founded in 2018.

Martı, which completed its Series B investment round last year, reached a valuation amount of $100 million with this investment.

Besides Actera and EBRD, investors such as Bossa Nova Investimentos, Kevin Ryan, BECO Capital, Autotech Ventures, Endeavor Catalyst and Autotech Ventures participated in Martı’s Series B investment round.

According to data from Startupswatch, the total investment received by the startup is around $12 million.

GROW FASTER IN TURKEY THAN IN THE WORLD

In the shared electric scooter market, which has grown rapidly worldwide in recent years, company revenues are expected to reach $1.6 billion by the end of 2022.

While the market revenue is expected to increase by 15% per year until 2026, the market volume is expected to reach $2.8 billion in 2026.

In the market, where the number of users is expected to increase rapidly, by 2026, 125 million people worldwide are expected to be shared electric scooter users.

In Turkey, revenue from shared electric scooter companies is expected to reach $3.5 million by the end of the year.

While the market growth rate in Turkey is faster than the world, analyzes reveal that the domestic market will grow at 33% per year until 2026, and the market size will reach $11 million by the end of 2026 .

On the other hand, the number of users in Turkey is expected to reach 700,000 by the end of 2026.

ACCIDENTS ARE ON THE CALENDAR

The increase in the use of electric scooters in Turkey has recently led to the start-up of many companies such as Martı’s competitors, and foreign companies to enter the Turkish market from abroad.

However, these devices, which were developed to meet the need for mobility, are still mostly on the agenda with traffic accidents.

Within the framework of the regulation prepared by the Ministries of Transport and Infrastructure, Environment and Town Planning and Interior, driving the electric scooter on the road of the vehicle if there is a cycle lane or a cycle lane separate, on highways, intercity highways and highways with a maximum speed limit of 50 km / h, more than two Driving side by side on one lane of the roadway and driving on sidewalks are prohibited.

Additionally, riding the scooters while hitching and hooking to another vehicle, riding while performing stunt movements except for demonstrations with permission, riding with one hand except during maneuvering signals, will disrupt order. public, will violate private property and will be used by pedestrians, people with disabilities or reduced mobility. It is also prohibited to park in such a way as to impede safe and independent movement, vehicular and pedestrian traffic.

Despite the announced regulations, the use of these vehicles on the roads can cause fatal accidents.

Experts, who had previously made special statements to Habertürk on this subject, argue that wearing a helmet should be compulsory for people who will use electric scooters, that the age limit should be increased for users and that the limit of these vehicles should be reviewed.

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