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Spain is home to 7.5k+ funded startups which raised over $2.1B in VC investment in 2023.

Spain has also been the birthplace of over 15 household name unicorns such as Glovo, Cabify amongst others.

Ecosystem Valuation

The combined enterprise value of Spanish startups has surpassed €100B in 2023.

Venture Capital

By stage

Early stage VC investment trends
Access early-stage funding rounds into Spanish startups here on the Dealroom platform.

Breakout stage VC investment trends

Access breakout-stage funding rounds into Spanish startups here on the Dealroom platform.

Scaleup stage VC investment trends

Access scaleup-stage funding rounds into Spanish startups here on the Dealroom platform.

By region

The majority share of VC investment into Spain is concentrated into two leading hubs, Barcelona and Madrid however, it's important to note that other hubs are emerging and on the rise across Spain such as Valencia and Bilbao in the Basque Country.

Here you can see VC investment trends by Spanish province between 2019-2023 including some rapidly growing startup ecosystems by VC investment growth


By industry

Industry analysis

The top three Spanish industries for VC investment raised in 2023 were Transportation, Healthtech, and Enterprise Software which combined accounted for over 40% of total VC investment across Spain.

Sub-industry analysis

Notably, the top sub-industries in terms of total VC investment into Spanish startups in 2023 were Biotechnology, Search Buy and Rent, and Mobility.

By business model

SaaS overtook Marketplaces in 2023, as part of a broader trend.

Share of Manufacturing VC investment is at a record high.

Leading segments

Below we showcase the most up-to-date data on the leading tech segments in Spain this year by VC investment.


Explore the data for the most active investors into the Spanish startup ecosystem as well as the most active Spanish investors here on the Dealroom platform.

Spanish Funding Landscape

Spanish investors are most active at early stage, breakout stage switches from US to non-Spanish European investors. Finally, Late stage increasingly funded by the US.

International Comparisons

Country benchmarking

Spain currently ranks within the top 10 countries in terms of VC investment in Europe alongside the likes of The Netherlands and Denmark.

Compare startup ecosystem metrics against its European and global counterparts down below or here on the Dealroom platform.

City benchmarking

Spanish startup hubs such as Madrid and Barcelona amongst the top 50 largest startup ecosystems for VC investment across Europe.

Compare Spanish city startup ecosystems against their European and global counterparts here on the Dealroom platform.

Related Content

Reports: Spain startup ecosystem report 2023
Reports: Browse all Spanish ecosystem reports on Dealroom
Dealroom Data: Explore all funded Spanish startups and scaleups
Dealroom Data: Explore all Spanish funding rounds