The investment volume shrinks in 2023 by 32.2%, and the number of deals by 10.3% compared to 2022. However, the data are better than those of the years prior to the record high of 2021.
Startup Observatory Annual Report 2023
Investment trends in Spain 2023
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Investment volume
Investment rounds
The volume of rounds in which only foreign investors participate has dropped by 38% and mixed rounds, in which local and foreign investors co-invest, have dropped by 44%.
Investments
Investments involving only domestic investors grew by 31%, partly pushed by venture capital funds with a cumulative target size of €3.78 billion raised since 2021.
Sectors
In terms of sectors, Mobility&Logistics leads thanks to the Revel and Cabify deals, BigData&Analysis thanks to Denodo’s round of more than €300M and Fintech/Insurtech, which has been influenced by Twinco’s round of more than €60M.
Exits
With regard to divestments, the number of exits has decreased by 33%, from 80 in 2022 to 53 in 2023.