The Spanish market takes off with more than 1.95 billion raised by startups until June

Large operations have improved in recent months but remain a pending issue, according to Dealroom's annual report.

• The first half of the year equals all of 2024's investment: almost €2,000M. In the previous year, Spanish startups raised €1,900M.

• Despite still being the ecosystem's big pending issue, mega-rounds (over €100M) represented 32% in the period between 2020 and 2024. This has improved significantly in recent quarters.

• Venture debt and non-dilutive investment are now quantified: €2,300M raised by Spanish entrepreneurs last year. This is by far the highest figure, even surpassing 2022's numbers.

• Dealroom highlights operations by Multiverse or Travelperk in the annual report prepared with BBVA Spark, Endeavor, Enisa, Gohub, K Fund, Wayra and Spaincap.

• The balance places Spain in sixth place for total venture capital (VC) investment; fourth in number of rounds (250 in 2025), and fifth in growth in the period between 2020 and 2024.

• Large corporations are slowly starting to gain weight: in 2024 they represented 17% of all rounds, the highest figure in recent years.

• How much has been invested in AI? According to the report, between 2020 and 2024, €2,000M has been raised, which would place Spain in fifth place in the European market behind the United Kingdom, France, Germany, and Switzerland.