Borusan Ventures makes its first investment in mobility startup DC Connected

Borusan Ventures, the corporate venture capital (CVC) arm of Borusan—one of the top industrial groups in Türkiye—announces its first investment in DC Connected, a Germany-based startup that leverages artificial intelligence to improve after-sales services in the automotive industry.
 

Marking its 80th anniversary this year, Borusan Group continues to grow in 5 main lines of operation: automotive, logistics, energy, manufacturing, and machinery and power systems. With over 14,000 employees in 11 countries across 3 continents, and a consolidated turnover of $8 billion USD, Borusan is one of the largest industrial groups based in Türkiye. Borusan Group is now exploring new technologies by backing exceptional founders in the global VC ecosystem.

Based in Silicon Valley, CA, Borusan Ventures was launched last year as an independent CVC arm of Borusan Group. It has made its first investment in Germany-based DC Connected. DC Connected’s AI-driven remote vehicle diagnostics platform utilizes a multi-brand approach to deliver automated, intelligent insights into vehicle health and performance. By providing real-time problem-solution recommendations through its "virtual technician," the platform offers remote assistance and automated diagnostics for various client types, including vehicle service providers, roadside assistance, and insurance companies.

DC Connected is already working with several major clients in Europe and collaborating with leading car manufacturers. Borusan Ventures has joined its €2.1 million seed round along with other investors of DC Connected including Venpace, Atlas Ventures, APX, and Bloomhaus Ventures. The founding team at DC Connected includes CEO Dennis Christ, an expert in car repair and maintenance; COO Ralf Schollenberger, who brings over 20 years of insurance industry experience, including his recent role as a senior executive at Allianz; and CTO Willian Servigna, a software development specialist formerly with Amazon.

 

“We invest in future technologies through Borusan Ventures”

Defne Kocabıyık Narter, the founder of Borusan Ventures and one of the 3rd generation shareholders of Borusan Group, noted that the fund was established to generate financial returns while strategically aligning with Borusan Group's long-term goals. Narter added: "As this year marks Borusan's 80th anniversary since its inception, our mission is to achieve sustainable growth for our company for many more years to come. To do so, we need to keep up with all forms of technological advancements, leveraging both internal and external innovation. Borusan Ventures enables us to monitor global innovations in our key industries, gain insight into future technologies, and invest in them. We see this investment as an opportunity for Borusan Automotive Group to enhance our services and customer experience, especially in after-sales and the used-car market.”

 

Ventures also leveraged by Borusan

Borusan Ventures aims to support entrepreneurs with global growth potential by leveraging the 80-year legacy and resources of its parent industrial group. It offers more than just financial backing, providing access to US and European markets, especially Türkiye. Entrepreneurs also have the opportunity to test their products with Borusan's experts and potentially secure long-term partnerships. This approach aims to help startups scale and thrive on a global stage.

 

Seasoned figures lead the way

Borusan Ventures' investment team is led by Timo Kilp, a seasoned investor with over a decade of experience in Silicon Valley, where he worked for notable CVCs such as Yamaha, Sony, and JetBlue. The advisory team includes Girish Nadkarni, former Head of ABB Ventures and Total Energies Ventures, and Ebru Dorman, who currently serves on the Board of Directors of NATO Innovation Fund. Under the leadership of these experienced figures, Borusan Ventures plans to grow into a difference-making investor in mobility, supply chain, energy & climate technologies and a variety of industrial technologies at seed and Series A stages across the US and Europe, planning to invest in approximately five startups annually.