Investment in Spanish startups fell 8% in the first semester by EFE

Madrid, July 10 (.). – Spanish start-ups or “startups” acquired investments of 1,971.7 million euros in the first half of 2022, which is 8.4% less than the 2,152.8 million reached in the same period of 2021 in a marked economic context due to The outbreak of war in Ukraine and inflation.

According to data from the Foundation’s Startup Ecosystem Monitor Bankinter (BME 🙂 compiled by Efe, during the first half of 2022, Spanish start-ups closed 238 operations, an increase of 22.7% over the same period in 2021, but their average value decreased by 25.4% to 8, 3 million.

And between January and March, investment in startups amounted to 1,226 million euros, up 13% over the same period in 2021, through 116 operations.

However, after a better first quarter than the previous year, investment decreased by 30% year-on-year between April and June 2022, to €744.9 million through 122 operations, so while the number of operations remained the same, the volume of investment decreased.

Despite this, during the first six months of 2022, more was invested than in 2020, 2019 or 2018, after 2021 it closed with 4300 million, almost four times the volume of the previous year recorded in the entire historical series.

More Spanish investment

The main source of investment for startups during the first half of 2021 was venture capital funds, which invested 1,191.8 million, which is a 43% increase over the same period in 2021.

However, it is worth noting the growth of corporate funds, reaching 406.5 million, an increase of 176.9% year-on-year, while investment through crowdfunding decreased 11.9% to 17.2 million.

In the first six months of 2022, foreign investment fell by 57.1% to €724.6 million. In contrast, domestic investment grew 70% to 234.12 million, while mixed investment reached 1,013 million, up 210% year-on-year.

By sectors, tourism and travel accounted for the largest investment during the first half of 2022, reaching 440.7 million, or 22.4% of the total, after tripling the funds received compared to the same period in 2021.

Followed by business and productivity, which amounted to 290.6 million; Mobility and logistics, with 218.9 million, and financial technology (‘fintech’) and insurance (‘insurtech’) companies, with 208.2 million.

By companies, major investment rounds were closed during the semester by Fever (200 million), Paack (200 million), Typeform (123 million), Travelperk (101 million) and Civitatis (100 million), the first four between January and March.

Invading Barcelona in Madrid

After 2021 in which Madrid had a monopoly on most investments, Barcelona rebounded in the first half of 2022 as the first investment destination in terms of volume and activity, with 81 operations and 991 million, 13.4% less, while the capital of Spain had 85 operations 678 million down 28.8%.

Compared to Madrid and Barcelona, ​​investments in the rest of Spain doubled by more than five compared to the first half of 2021 to reach 302.9 million, with Valencia the main beneficiary having seen a growth of 312% to 53.9 million, followed by the Basque Country. country, with 52.2 million (almost 140% more).

In terms of divestments in Spanish start-ups, there were 42 exits in the first half of the year, up 75%, with a value of 1,222.9 million euros.

law in congress

Spain’s entrepreneurship system is awaiting the Startup Law, which was approved by the Cabinet in 2021 and which the government hopes to speed up its parliamentary process from September with a view to getting it approved before the end of the year.

The law, which expands tax deductions for entrepreneurs and facilitates digital nomads or simplifies the procedures for starting a business, has received more than 230 amendments in the House, according to data compiled by Efe.

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