Appsilon Raises €12.5M to Accelerate Lab-Grown Diamond Production

## Istanbul Startup Closes Major Funding Round **Istanbul, 26 July 2022** – Appsilon has successfully completed a €12.5 million investment round led by Esas Private Equity. With this new capital, Appsilon is positioned to become one of the most valuable advanced materials companies to emerge from Turkey. The investment will be directed towards accelerating the company's research and development (R&D) processes, boosting production capacity, and expanding its global presence in the rapidly advancing field of diamond technology. ## Accelerating Diamond Technology Appsilon's founding partner and CTO, Taylan Erol, expressed his excitement about the company's trajectory. "We aim to achieve an important and strategic position in the global materials field together with the support of our partner Esas," Erol stated. "We are developing joint projects with the most notable universities and institutions in the world with our team of 30 people in our offices in Delft, the Netherlands and Istanbul. We have become one of the significant diamond suppliers in many fields such as quantum technologies, space exploration, biotechnology and jewelry. We want to strengthen both our technologies and our market position by expanding our team in the coming period.” ## A Strategic Partnership Esas Private Equity voiced its confidence in the partnership, stating, “Within the framework of our goal of investing in technology-based initiatives in our country, we are proud to support Turkish engineers and Appsilon who have demonstrated outstanding success in the field of advanced materials and became one of the world’s leading diamond manufacturers producing diamonds in a laboratory environment.” The investment process was advised by Moroğlu Arseven Law and Dutch law firm CORP for Appsilon, while BTS Law, international law firm Bird & Bird, and PricewaterhouseCoopers (PwC) advised Esas Private Equity. This successful funding round marks a major milestone for Appsilon, validating its pioneering work in the advanced materials sector. The infusion of capital will empower the company to scale its production of high-quality, lab-grown diamonds, further solidifying its role as a key supplier for next-generation applications in science, technology, and luxury goods.