Spain ecosystem
REPORT 2023
April 2023 Key takeaways.
CONTENT DESIGN
Key takeaways
The Spanish tech ecosystem is now Spain experienced its second best year Latin American countries represent 3
worth EUR93B, up 3.6x since 2018. on record for VC investment, with EUR4B of the top 10 recipients of Spanish VC
raised in 2022. investment.
The combined value of the Spanish startupSpain ranks 6th in Europe and 16th globally 141+ funding rounds have been invested
ecosystem has reached EUR93B. for total investment raised in 2022. from Spanish investors into LatAm startups.
The growth in the nation’s ecosystem valueSpain showed stronger resilience than itsMany Spanish investors such as Seaya and
has been driven by the emergence of four European counterparts, with VC InvestmentWayra have been active in investing into
new homegrown unicorns: Factorial, Fever,dropping only 15% since 2021. Early stageLatAm-based startups and scaleups.
Domestika and TravelPerk. investment reached a record high of EUR1.8B.
Combined enterprise value of Spanish startups VC Investment in Spanish startupsNumber of rounds from Spanish investors
in foreign startups
▊ Value of public companies ▊ Value of private companies Cumulated number of rounds 2018-2022
EUR4.7BUnited States 250
EUR100BEUR93B EUR4BLatAm 141
EUR4B United Kingdom130
EUR75B
EUR3B France 69
Germany 58
EUR50BEUR2B Mexico 49
Portugal 38
EUR25BEUR1B
Israel34
Brazil32
2016 20222017 2021 2022 Colombia28
Page / 2 Source: Dealroom.co. CONTENTDESIGN
Table of content Co-authors
Nina Chaloum Alex Hamilton
Ecosystem Innovation Analyst Ecosystem Innovation
at dealroom.coAnalyst at dealroom.co
1 The Spanish Tech Ecosystem
Jaime Novoa
Partner at Kfund
2 Investors & Funding landscape
Previous editions of the report.
Download the 1st 2nd
3 Spain & LatAm: cross-investment first reportEditionEdition
opportunities 2021 2023
Page / 3 1The Spanish Ecosystem
CONTENT DESIGN
1The Spanish Tech EcosystemCONTENT DESIGN
Spanish startups are now worth EUR93B, up 3.6x since 2018. The value of private companies
has been growing steadily and is up 1.3x year-on-year.
Combined enterprise value of Spanish startups (2016-2022) Enterprise value of selected European ecosystems
>> view online Growth (2018-2022)
▊ Value of public companies ▊ Value of private companies
2018 Value growth2022
EUR100B
EUR93B EUR225B
EUR86B
EUR37B
3.6x
EUR75B
4.2xEUR332B
3.8x
EUR93B
EUR50B 3.8x
3.6x
EUR448B
EUR26B SwedenEUR53B
EUR25B Portugal EUR10B
France EUR108B 2.9x
Spain EUR26B EUR44B
GermanyEUR153B 2.5x
Italy EUR17B EUR326
2.4x
Netherlands EUR137B
2016 2017 2018 2019 2020 2021 2022
Source: Dealroom.co.
(1) Enterprise value consists of Spanish HQ’d and founded companies founded since 1990. Visit this link for more information.
Page / 5(2)Sum of the valuations of all startups in the ecosystem. Using estimated valuations based on most recent VC rounds, public
markets and publicly disclosed valuations