HubX, an İzmir-based consumer technology company, has secured an initial $50 million investment from Point72 Private Investments at a $1.2 billion pre-money valuation. The agreement also gives Point72 an option to invest an additional $25 million, taking the potential financing to $75 million. The transaction represents HubX’s first external investment since its founding.
Founded in Türkiye in 2022 by Cem Ortabaş and Kaan Ortabaş, HubX develops and scales consumer mobile and web applications. Its portfolio spans areas including generative AI, education, photography and video, and health and fitness, with products including Nova, Wiser, DaVinci and Lotus Flow.
HubX said it operates more than 40 mobile and web products that have collectively reached more than 600 million users across more than 190 countries. The company has more than 370 employees across İzmir and Istanbul.
The company plans to use the investment to support the growth of its existing portfolio and expand its acquisition strategy. HubX intends to acquire and partner with consumer mobile and web businesses while continuing to invest in its technology infrastructure, AI capabilities, data systems and global distribution operations.
