Spanish emerging technology companies managed to attract 4,000 million euros from venture capital investors in 2022, reflects a report published this Thursday by Dealroom.com for GoHub, BBVA, Kfund and Endevor. “Spain showed greater resistance than its European counterparts, with a drop in investment in venture capital of only 15% since 2021. Investment in initial phases reached an all-time high of 1.8 billion euros,” celebrates the analysis.
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The data shows that Spanish startups managed to reduce the impact of the international drop in investment in their sector more efficiently than British (-25%) or American (-33%) startups, the two territories that concentrate traditional interest of venture capital. In Europe, Spain also surpassed the German emerging (-44%) and the Dutch (-48%). The French for their part managed to almost match the record investments of 2021, with a reduction of only 5%. The European average stands at 11%.
The 4,000 million euros achieved by Spanish startups in 2022 place them in 6th European position. The country that received the most venture capital investment was the United Kingdom, with 31,000 million, almost double that of the second, which was France with 15,900 million. Then come Germany (12,000 million euros), Sweden (5,800 million) and Switzerland (5,700 million). Globally, Spain ranked 16th.
From these data, the report highlights the fact that the investments received by Spanish startups in the early stages of their growth increased. “Initial and medium financing has grown steadily, reaching a record high in 2022 of 1,800 million euros, 2.4 times more than in 2017,” the analysis states. Most of the capital invested in these initial rounds also comes from national or European sources (60%).
In total, the Spanish technological ecosystem is already worth 93,000 million euros, 3.6 times more than in 2018. A growth that has been driven by the creation of four new unicorns (startups that are worth $1 billion or more), such as Factorial, Fever, Domestika, and TravelPerk. Spain has a total of 14 of these companies, compared to 130 in the United Kingdom, 60 in Germany, 27 in the Netherlands or 16 in Denmark.