Angel Funded Startups in Spain
Angel rounds in Spain visible in this dataset range from $100K floor checks to CoverManager's $37M raise in Seville — a food and beverage company that dwar…
Angel rounds in Spain visible in this dataset range from $100K floor checks to CoverManager's $37M raise in Seville — a food and beverage company that dwarfs every other entry. ORQUEST (Apps, Madrid, $2M) and Premiumguest (Media and Entertainment, Barcelona, $1M) represent the next tier. The sector mix is broad: biotechnology, AI, advertising, health care, and commerce all appear across the ten companies, with no single vertical dominating.
Madrid and Barcelona split the geography evenly at three companies each, while Valencia, Salamanca, Seville, and Vilafranca de Penedès each contribute one. The most recent close is Evolving Therapeutics (Biotechnology, Valencia, January 2025), with most other activity concentrated between late 2021 and late 2023. Three companies — Evolving Therapeutics, GameSquare, and Tu Lecho al Techo — raised the minimum $100K, suggesting the dataset captures both exploratory early checks and more substantial conviction rounds.
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Frequently asked
What is the largest angel round in this dataset?
CoverManager, a food and beverage startup based in Seville, raised $37M — significantly above the next-largest rounds of $2M (ORQUEST, Apps, Madrid) and $1M (Premiumguest, Media and Entertainment, Barcelona). The outlier size makes CoverManager the clear standout in this set.
Which cities produce the most angel-funded startups in this data?
Madrid and Barcelona each account for three companies. Valencia (Evolving Therapeutics), Salamanca (Medity), Seville (CoverManager), and Vilafranca de Penedès (AtheneaEDU) each contribute one, indicating some geographic spread beyond the two main hubs.
What sectors appear most in this angel segment?
Commerce and Shopping is the only sector with two entries — GameSquare and Tu Lecho al Techo, based in Barcelona and Madrid respectively. The remaining eight companies span distinct verticals: biotechnology, AI, advertising, health care, apps, media and entertainment, food and beverage, and IT.
How are round sizes distributed across these ten companies?
Three companies — Evolving Therapeutics, GameSquare, and Tu Lecho al Techo — raised exactly $100K, the apparent floor. Mid-range rounds cluster between $400K (Buscoresi) and $940K (StoriMake). The $37M CoverManager round is a strong outlier that skews any average considerably.
How recent is the funding activity shown here?
The most recent round is Evolving Therapeutics (Biotechnology, Valencia) in January 2025. The bulk of the dataset spans mid-2021 through late 2023, with a noticeable gap in 2024 before the 2025 entry.
Are there AI or deep-tech companies in this angel segment?
AtheneaEDU (AI, Vilafranca de Penedès, $130K, October 2023) and Evolving Therapeutics (Biotechnology, Valencia, $100K, January 2025) represent the tech-science end of the set. ORQUEST (Apps, Madrid, $2M, November 2022) is the largest software-adjacent round among the ten.
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