Top Startups / December 20, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Spanish Startups To Watch in 2023

There are lots of Spanish startups that are worthy of mentioning, but in this article, we will look at the top startups in Spain. Spain is a thriving and entrepreneurial country, with a booming tourism industry. The busy beaches and holiday spots are not the only places making money in Spain. Huge profits are brought in from manufacturing, agriculture, and a very fast-growing IT industry. This creates a good ecosystem for Spain to create top startups.

With a combined value of 46 Billion Euros for Spanish startups including 15 Billion Euros coming from Unicorn startups, the country has a very competitive startup culture. Unicorns are startups that have managed to reach a valuation of $1 Billion or over. If you are interested in reading more about global top startups, there are lists for most startup ecosystems.

Spanish startups are well-valued and supported by multiple government programs. One of which is Spain's startup visa program. The Spanish government is currently offering a startup visa program. This means entrepreneurs are encouraged to work in Spain to build their startups. Spain's entrepreneur permit allows a person to make a startup and work on the business in the country for two years. There is also an offer to renew the visa every 2 years to continue working on the startup business. The guidelines require the startup to align with the interests of the Spanish economy in order to permit residency.


1. hotelbreak

Year Founded: 2019

HQ: Palma De Mallorca, Islas Baleares, Spain

Size: 1-10

Founders: Cristian Alcoba, Maxime Renaudin

Our first Spanish startup of the article is hotelbreak and as one might assume, it operates in the travel and tourism industries. The company hotelbreak has created an online platform to make holidaying easier for short-stay travellers. This Spanish startup's website was designed to let people book hotel services even if they are not staying overnight. Therefore, increasing hotel profits, and also allowing travellers to access the treatments they want.

Through the service, travellers can book day passes to hotels, spa passes, brunch, or even make restaurant reservations. This means that people staying in accommodations nearby can still use the hotel resources and enjoy their time to the full.

The business has gone through two pre-seed funding rounds, with the previous one taking place in September 2020 and has managed to raise a figure of $401,300 with the support of a sole investor.

2. Ukio

Year Founded: 2020

HQ: Barcelona, Catalonia, Spain

Size: 11-50

Founders: Jeremy Fourteau, Stanley Fourteau

Ukio is the next Spanish startup on our list to watch in 2023. It is a startup working within the hospitality sector. This young startup provides its customers with an alternative to the more traditional housing market. It offers a network of 'design-forward, turnkey apartments for monthly stays' that are available across Europe. This is the perfect network for anyone wanting to work and travel at the same time. For people who want to see the world and can relocate with their job, Ukio gives them the best way to do this.

The Spanish startup recently went through a Series A round in November 2022 where it raised 27 Million Euros and has managed to raise a total of $39.5 Million. This funding was achieved through deals with eleven separate investors.

3. Wenea Mobile Energy

Year Founded: 2018

HQ: Madrid, Spain

Size: 251-500

Founders: Cesar González, José Manuel Zorrilla

Another top Spanish startup to follow in 2023 is a mobile energy operator called Wenea Mobile Energy, also known as just Wenea. The startup offers its customers great electric car charging facilities. One of the services allows Wenea to custom design the perfect changing solution for a company, so employees can charge their vehicles at work, or the company cars can be kept charged up. Wenea also shows where the closest charging points are to you on the charging points map.

The company has agreed to a debt financing deal with the European Investment Bank, which was completed in December 2020. The value of the deal was 50 Million Euros, which the startup has been able to use to grow its workforce and scale its operations further to improve the EV market.

4. HundredRooms

Year Founded: 2014

HQ: Palma De Mallorca, Islas Baleares, Spain

Size: 1-10

Founders: Jose Rodriguez

Hundredrooms is the next Spanish startup in our top startups to follow in 2023. It is another search engine that can help make travelling easier. The platform allows users to search and compare holiday rental apartments. This way, holidayers can get the best deal for exactly what they are looking for. The company has designed the platform to focus on Spanish-speaking countries.

HundredRooms has gone through a series of funding rounds, with the most recent taking place in March 2017. The Spanish startup has successfully negotiated deals with five investors and has benefited from those deals by raising a total of 9.1 Million Euros in funding.

5. Cobee

Year Founded: 2018

HQ: Madrid, Spain

Size: 51-100

Founders: Borja Aranguren, Daniel Olea Martin, Nacho Travesi

The world of employee benefits can be quite tricky to understand and information can float about disparately. A Spanish startup, Cobee is aiming to fix this through the use of its online platform that simplifies employee benefits management and also makes sure that all of the required information is easily stored and accessed. The business has also highlighted that it is open to additional financing.

In terms of financing, the startup has managed to raise a total figure of $60.2 Million to further its growth and ambitions. The last funding round the business took place in was a Series B round. Overall, fifteen investors have funded the startup.

6. Tribboo

Year Founded: 2021

HQ: Barcelona, Catalonia, Spain

Size: 1-10

Founders: David UCH, Ignacio Escarpenter, Jorge Jr Ccarhuas

Tribboo is a project management platform that is designed to be used by construction SMEs. The tool was created to help businesses manage time spent on figuring out budgeting, as well as planning and invoicing. This process can be slow and lengthy, but with the use of Tribboo, businesses can go through the process much quicker and smoother.

The construction startup went through its most recent round of funding in December 2022, where it raised 160,000 Euros from a sole investor. In total, the business has secured funding with four investors and has raised an overall amount of 410,000 Euros since being founded.

7. Xceed

Year Founded: 2014

HQ: Barcelona, Catalonia, Spain

Size: 11-50

Founders: Davide Villano, Luca Papaleo, Mattia Franco

Xceed is an online platform dedicated to bringing people together at live events. The Spanish startup is breaking into the nightlife market, to offer an all-in-one platform for both consumers and businesses. The online platform allows customers to search for and join events and allows businesses to promote their events.

Xceed's last round of startup funding took place in November 2022, where it was reported to have raised 2 Million Euros to further scale its operations. In total, the business has managed to raise 4.8 Million Euros in startup funding. This funding has been achieved through the support of eight investors.

8. ifeel

Year Founded: 2017

HQ: Madrid, Spain

Size: 11-50

Founders: Amir Kaplan, Gabriele Murrone, Martin Villanueva Ordas

The next startup to follow in 2023 is ifeel. This startup works in the healthcare industry as it provides a well-being platform for its customers. Both individuals and organisations use the online platform. ifeel uses technology to make mental health support scalable so it can work across a large organisation. It not only uses tech to streamline key processes but also has licensed psychologists to provide one-to-one support.

iFeel is another startup on this list that completed its last funding round in November 2022, where it raised 10 Million Euros in a Series A round. Overall, the business is backed by three investors and has managed to cumulatively raise a figure of $20.1 Million in startup funding.

9. Seqera Labs

Year Founded: 2018

HQ: Barcelona, Catalonia, Spain

Size: 11-50

Founders: Evan Floden, Paolo Di Tommaso

Seqera Labs is our next startup on the list to follow in 2023. This is a company that is trying to break the big data and cloud computing industries. It is a cloud-based platform that is made to help its users navigate complex data analysis pipelines more easily. Seqera Labs designed the tool to be used for any infrastructure, so scientists can bring together and deploy data analysis pipelines and get results faster.

Since being founded, Seqera Labs has secured the support of nine investors and had its most recent funding round in October 2022. From these investors, the business has managed to raise a total of $27.5 Million to further expand and scale for the future.

10. Amenitiz

Year Founded: 2018

HQ: Barcelona, Catalonia, Spain

Size: 101-250

Founders: Alexandre Guinefolleau, Emmanuelle Guinefolleau, Frederic Cadet

This Spanish startup operates in both the hospitality and software SaaS industries. Amenitiz was created to help use technology for hoteliers to boost their success and profits. The all-in-one platform allows owners to manage their properties no matter where they are in the world.

In addition to securing investment, the software startup has also acquired another company, using some of the acquired funds. Since being founded, the business has raised a total figure of 34.3 Million Euros in startup funding, which was collectively raised by thirteen investors.

11. Devengo

Year Founded: 2019

HQ: Madrid, Spain

Size: 11-50

Founders: Alberto Molpeceres, Fernando Cabello-Astolfi

Devengo is a Spanish startup operating in the fintech industry. It is offering its customers a way to make fast transfers, to help make the process of instant payments easier. This company offers its services to businesses making transfers with customers in the UK and Europe. Devengo is ISO 27001 certified. This is the world's most rigorous security standard, so the startup takes security seriously.

The business has recently begun raising funds, with rounds being completed in November 2022 and in 2021. Both of these funding rounds saw the business raise funds from a single investor, which has collectively netted the team a total of 4.1 Million Euros to further its startup ambitions.

12. Nestcoin

Year Founded: 2021

HQ: Tórtola, Castilla-La Mancha, Spain

Size: 11-50

Founders: Yele Bademosi, Taiwo Orilogbon

Nestcoin is a young Spanish startup, having only been founded in 2021. It works in the very fast-growing industry of cryptocurrencies. The startup is a web3 application company, with products that cover decentralized finance, digital art, media and gaming. Nestcoin works to make crypto accessible to more people, so works in and invests in simple products. The experience is designed to be personalised and immersive for every customer.

Nestcoin has received investment, but has also made three investments of its own. In total, the Spanish startup has managed to raise a figure of $6.5 Million from investors that back its mission. This amount was raised through the collective efforts of twenty investors.

13. Ocean Winds

Year Founded: 2019

HQ: Madrid, Spain

Size: 251-500

Founders: Bautista Sanchez

Ocean Winds is another Spanish startup to follow in 2023 because it is working in the clean energy sector. This Renewable energy startup is an offshore wind energy development business that is a part of the construction and supply for renewable wind energy projects. It makes clean energy for homes across the world by developing, financing, building and operating various offshore wind farms.

There has been a massive increase in the uptake of renewable energy and wind power has been at the heart of that. As nations begin to try and decrease their dependence on natural gas, either for environmental or political reasons will begin to turn to other alternatives. This is where Ocean Winds aims to expand.

14. Yumminn

Year Founded: 2021

HQ: Barcelona, Catalonia, Spain

Size: 11-50

Founders: Christian Campillo Dachs, Gonzalo Rodriguez

Yumminn is a Spanish startup working in the financial services sector but more specifically the mobile payments industry. The startup offers a mobile payment tool to allow users to both orders and pay from their phones. This all-in-one platform means that diners can do everything from their table, by scanning a QR code on their table.

Yumminn has gone through both a Seed Funding round and a Pre-Seed round, the latter in 2021 and the former in November 2022. The funding rounds have been backed by a pair of investors and have helped the Spanish startup to raise a total of $2.1 Million.

15. UNAVETS

Year Founded: 2019

HQ: Madrid, Spain

Size: 51-100

Founders: Junko Io Sheehan

UNAVETS is the next Spanish startup on our list to follow in 2023. As one might assume from the company's name, this startup works in the veterinary industry. UNAVETS works to provide pet healthcare services. The startup supports clinics by delivering marketing, finance, HR, IT, and lots of other resources to clinics.

This startup has proven to be hugely successful so far in terms of total funding raised. It has gained €116M in total funding from just one funding round with one investor. This funding was from Ares Management and was given to finance the future growth of the business as its potential reach has proven attractive.

16. CoverManager

Year Founded: 2015

HQ: Seville, Spain

Size: 51-100

Founders: Jose Antonio Perez

CoverManager is a Spanish startup that provides technology and software solutions to the hospitality industry. Some examples of their offerings are table payment options for customers, eliminating the need to wait for a bill, queue management, phone answering and much more. This takes the stressful parts out of running a restaurant and allows for the main focus to be on the food and service with a smile.

In terms of startup funding, the business completed its last funding round in December 2023 where it raised 17 Million Euros. In total, the startup has raised a figure of $55.5 Million to further its development. In total, six investors have backed CoverManager.

17. Koa Health

Year Founded: 2016

HQ: Barcelona, Catalonia, Spain

Size: 51-100

Founders: Oliver Harrison

The next Spanish startup, Koa Health, is a digital healthcare provider. Koa Health provides its customers with support and solutions online for multiple mental health conditions. It combines new clinical research with breakthrough technologies to give customers what they need, making a digital mental health support resource accessible for all. On the startup's platform, topics such as tackling stress, boosting confidence, sleeping better, and improving relaxation are covered.

Koa Health has raised a significant amount of startup funding with the total being 44.1 Million Euros at the time of writing. This funding was achieved with the help of eight investors, with the last funding round being the company's Series A round where it earned 30 Million Euros.

18. Nova

Year Founded: 2020

HQ: Madrid, Spain

Size: 51-100

Founders: Andrea Marino, Lars-Henrik Friis Molin, Ramón Rodrigáñez Riesco

Nova is a talent network startup that was founded in 2020. The company works in the internet industry, connecting 'high potential individuals' with each other. On the platform, these individuals can also be connected to great professional opportunities to boost their careers.

Nova is an example of a company that has gone through equity crowdfunding and this has proven quite successful, as the Spanish startup has managed to raise a figure of $628,500, with another three investors significantly supporting this number.

19. Deudafix

Year Founded: 2019

HQ: Alcobendas, Madrid, Spain

Size: 251-500

Founders: Maria Petrache, Matthew Osborn

Deudafix is a legal tech startup from Spain that helps people get out of debt. The Deudafix legal expert advisors can help customers to legally exonerate their debts, figure out what single payments can be made that are affordable and restructure the debt by reducing the payments. The advisors will give free advice with the aim to help change lives. Deudafix has currently helped reduce more than 500,000 debts in two countries since being launched.

Duedafix has not had a particular focus on raising startup funding, with the business only going through a Seed Funding round. This funding round allowed the LawTech startup to raise 1 Million Euros to further its ambitions. This funding was raised from a single investor.

20. Playtomic

Year Founded: 2017

HQ: Madrid, Spain

Size: 51-100

Founders: Domingo Guzman, Felix Ruiz Hernandez, Pablo Carro, Pedro Clavería, Sergio Servet

Playtomic is an online sports service platform. It allows people to search online for the exact sports facilities they want and book them. The platform shows the different courts available so there is never any confusion or double bookings when players come to the courts. Playtomic has also been designed with the idea in mind that it will go on to become a social network for sports players to connect with each other on.

The business has been active in raising funding and has also spent it, by acquiring five other startups to support its own growth. Its most recent funding round was a Series C round that took place in August 2022. From five investors, the Madrid startup has successfully raised $75.4 Million.

21. Bit2Me

Year Founded: 2014

HQ: Elche, Spain

Size: 251-500

Founders: Andrei Manuel, Leif Ferreira

Bit2Me was one of the first companies to truly embrace blockchain and cryptocurrency back in 2014. Since then, the startup has worked tirelessly on serving the Spanish-speaking world for cryptocurrency. Users are able to easily trade their crypto rapidly and are also able to make use of a variety of learning resources in conjunction with the latest news to help people to make better trades.

Since being founded, the company has acquired two others, showing it also likes to make its own investments. The company's last funding round took place in September 2022, where it raised 30 Million Euros from Telefonica. In total, the company has made $65.3 Million from six investors.


FAQs

What are the Strongest Industries in Spain?

To understand a country's startup industry and economic market at all, we need to know exactly what industries are leading. In Spain, it is the tourism, manufacturing, agriculture, and ICT industries that are strongest.

What is the Average Investment in the Startup Industry in Spain?

2021 was a big year for Spanish startup investment, with over €4 billion being invested in the year. The average investment in Spain depends on the industry, as there is a great difference between the average investment in one industry and the next.

How many Startups are there in Spain?

It is difficult to put an exact number on how many startups there are in Spain, as the figures are ever-changing as businesses mature and new ones pop up. Some figures suggest that there are roughly 7,150 startups in Spain.

How Fast is the Startup Industry Growing in Spain?

Spain's startup industry is booming hugely, having grown x2.8 for VC investment in 2021.

Top Spanish Startups To Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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