Spanish startups reached 100 billion in aggregated value in 2023, consolidating the country's position as a midsize European tech ecosystem | TechCrunch

Spanish startups surpassed €100 billion in EV in 2023, with €2.2BN raised in 850 funding rounds. The VC activity was lower compared to the previous two years but remained above pre-pandemic levels (2019: €1.9BN). Spain's startup EV exceeded countries like Norway, Italy, and Portugal but was dwarfed by Cambridge's $191BN ecosystem. Despite lagging behind France and Germany in reaching €100BN, Spanish tech is one of Europe's fastest-growing.

In 2023, early-stage investments in Spanish startups were robust, with record-high pre-seed, seed, and Series A funding. Series B and C stages also performed well, while late-stage activity was relatively calm with just two mega-rounds reported. This funnel pattern suggests strong support for early-stage ventures in Spain's tech ecosystem.

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