Madrid’s Startup Ecosystem Hits Record 249 Investment Rounds in 2023

According to the annual Startup Radar report by Fundación Madri+d, the city’s early-stage companies raised a total of €1.2bn, marking a 9% increase from 2022.
byContxto
February 16, 2024
Madrid's Startup Ecosystem Hits Record 249 Investment Rounds In 2023 Madrid's Startup Ecosystem Hits Record 249 Investment Rounds In 2023
Florian Wehde

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Madrid was ranked as the sixth best ecosystem in Europe by the number of rounds and exits, and eighth by total VC investment volume.

  • The report also revealed that half of the investment in Madrid startups was directed towards mobility, B2B software, fintech, events, healthcare, foodtech, and marketing.
  • AI startups secured over €200m, while other deeptech companies raised €130m.
  • Additionally, Fundación Madri+d highlighted the presence of 1,205 deeptech companies in Spain, with 347 based in the Madrid region, representing 8% of the total in Europe.

This data underscores Madrid’s growing prominence in the European startup landscape and its increasing appeal to investors across various sectors, particularly in deeptech and innovative industries.

byContxto
Updated

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