OneRagtime’s Spanish Start-up Ecosystem Analysis  -  November 2018

Insights

10 December, 2018

OneRagteam

Spanish start-up ecosystem, Spanish tech, Tech ecosystems

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As another month flies by and we near the end of 2018, here’s the next instalment of our Spanish start-up ecosystem analysis. November 2018 = €10 million distributed across 15 rounds in 3 ecosystems. Vamos!

Number of deals per region Spain November 2018

For the third month in a row, Barcelona has topped the other ecosystems for number of deals, smashing rival Madrid out of the park once again. It was interesting to see another strong month for Valencia, who secured 4 deals last month, beating Madrid, seen to be Spain’s joint-top ecosystem.

Amount raised and number of deals per stage Spain November 2018

We’ve changed our classification slightly for November, taking small Pre-Seed and “Venture Rounds” into account. We’re borrowing Crunchbase’s term “Venture Round” here, which is used to signify smaller funding rounds that often serve as a bridge between Seed and Series A. Funding this month was significantly low across the board, showing a slower end to the year for the Spanish market, with only €5 million in Seed and no Series A, B or C rounds.

Amount raised per company Spain November 2018

A month of smaller rounds, this week’s largest fundraises came from Vitcord (€1.8 million), an app that allows groups of friends to communicate collaboratively by creating group stories, Qida (€1.2 million), a platform for caregivers, and Yego (€1.2 million), the scooter sharing app.

A quick note here, we didn’t include ClerHp, the design, calculation and construction specialists who closed a €1.5 million round this month, as we felt that their focus was not technology dominant –we require this for the start-ups we feature as part of this analysis. Similarly, we didn’t include Wegow, the social live music marketplace, or Chipi, the transport comparison app, as the amounts were not communicated.

Go-to-market distribution Spain November 2018

The go-to-market distribution shifted this month. While B2C start-ups continue to dominate deal volume (73.3% vs. B2B’s 26.7%), November saw their value dominate too, contrary to the trend, jumping to 81.8% from only 36% in October and 38.3% in September.

Number of deals per sector Spain November 2018

Mobility was a front-runner again this month, making it two months in a row, leading alongside service-based start-ups and Fintech. However, we are once again not seeing any strong trends on a monthly basis, with the wide distribution of deals making it tricky to identify patterns. Nevertheless, we will continue to track the sector distribution to see if we find patterns in the long-term.

So, that’s it from us! We’re hope you’re finding this tracking useful — get in touch (on our contact page or why not on InstagramFacebookLinkedin and Twitter? 😉) and let us know your feedback. And while you’re at it, don’t forget to head to our Platform to apply to join our Investor community and invest in our one-of-a-kind start-ups. Or if you have an exceptional start-up we should know about, our Platform is also the place to pitch us and apply for funding, contacts, operational resources and so much more ✌️

Have a great month ahead!