Spain, situated in southwestern Europe on the Iberian Peninsula, boasts a rich tapestry of culture and history that has captivated visitors for centuries. From its ancient Roman ruins to the modernist marvels of Barcelona, Spain offers a diverse array of experiences for travellers seeking to immerse themselves in its unique heritage.
In recent years, Spain has been establishing itself as a growing force in startup creation, aided significantly by government initiatives such as Spain’s Startup Law, which was enacted in January 2023. This legislation, crafted as part of the Spain Entrepreneurial Nation strategy, aims to streamline the establishment and growth of startups within the country by recognising their distinctive characteristics and challenges.
The national startup ecosystem’s growth has been catalysed by the emergence of four new unicorns in Spain during 2022: Factorial, Fever, Domestika, and TravelPerk, each with valuations exceeding €1 billion and making significant impacts in their respective industries, spanning human resources, event technology, education, and travel and tourism.
According to Dealroom, Spain saw its second-highest year for VC investment in 2023, raising €4 billion. The Spanish tech ecosystem’s value has surged to €93 billion, marking a remarkable 3.6x increase since 2018. Spain ranks 6th in Europe and 16th globally for total investment raised.
As Spain’s investment landscape continues to flourish, showcasing remarkable growth and global prominence, we now turn our attention to 10 fast-growing Spanish startups, all founded post-2021, on a trajectory to shape the future of innovation in 2024 and beyond!
Ailin: Madrid-based Ailin is a platform that offers a convenient, efficient and secure diagnostic support solution to know and monitor the health status of people. Founded in 2021, the startup has raised €1.5 million to drive Ailin’s technological development, incorporating Artificial Intelligence algorithms to provide more accurate health diagnostics.
Bankflip: 
Barcelona-based Bankflip is a startup that assists financial service providers in real-time document and data collection and processing from public authorities. Since its founding in 2021, the startup has secured €2.6 million in funding to bolster its position in the Spanish market and extend its reach to other markets.
Clevergy: Madrid-based Clevergy is a home energy management software deployed through energy retailers and installers. The startup was founded in 2021 and raised €2 million to expand compatibility with smart devices, integrate AI-driven energy-saving models, and enable community energy management, deploying through energy retailers and installers.
Clidrive: Founded in 2023 by a team of serial entrepreneurs, Clidrive is a Madrid-based fintech startup specialising in facilitating connections between car owners financial institutions, and investors, aiding in obtaining car loans. Impressively, the startup achieved profitability within its first year of operations, generating €10.6 million in profit.
Cocoon Bioscience:
Madrid-based Cocoon Bioscience is an innovative biotech startup using a natural system for the sustainable production of complex proteins and enzymes, unlocking new applications in food and healthcare at unmatched cost-efficiency. Founded in 2021, the startup secured €17 million to drive innovation in the biotech space.
Deale: Founded in 2021, Deale helps SMEs access M&A opportunities, investors discover deals online and advisors expand their global reach. The Madrid-based startup has secured €1.5 million to accelerate the company’s growth, leveraging AI and digitisation to simplify M&A transactions. Deale’s strategic plan also includes its initial international expansion into markets such as Germany, France and Italy.
Embat: Founded in 2021 to digitize and automate processes for finance teams, Embat automates accounting and bank reconciliation, and deals with corporate treasury management, centralising collections, payments and treasury processes. Madrid-based startup raised €21.5 million to speed up real-time treasury management.
Luzia: Founded in 2023, Luzia is a Whatsapp-based intelligent personal assistant. Luzia has 17 million users globally and has secured €13 million to expand into new markets and develop innovative functionalities while maintaining its leadership in the Spanish and Portuguese-speaking markets.
REVER: Founded in 2021, Rever is an online returns management startup, focused on improving post-sales processes for online purchases. Barcelona-based startup raised €9.7 million in total funding to simplify returns, speed up refunds and offer environmentally friendly returns accessible to all.
Samara: Madrid-based solar energy Samara accompanies households in their energy transition towards a more efficient and sustainable model. The startup has raised a total of €6.5 million since its founding in 2022 to continue developing technology and promoting energy self-consumption.
By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!
Read the orginal article: https://www.eu-startups.com/2024/03/10-fast-growing-spanish-startups-to-watch-out-for-in-2024-and-beyond/
