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Top 5 Venture Capital Firms in Spain

The following five venture capital firms demonstrate the changing future of innovation in Spain. From tech-centric investors to versatile funds engaging in a variety of sectors, these five venture capital firms are pillars of Spain’s diverse and dynamic entrepreneurial ecosystem. Their commitment and strategic foresight are not just accelerating business growth but are also laying the foundations for a robust and future-ready economy.

We took into account the number of deals per year to create this list ahead of the upcoming 4YFN event in Barcelona.

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Wayra

Wayra is Telefónica’s global initiative designed to scale and invest in startups, aiming to bring innovation worldwide. It represents a highly connected and tech-driven open innovation project. Wayra focuses on empowering entrepreneurs and connecting them with Telefónica’s vast customer base, supporting the creation of a technological, ethical, and human future. With hubs in multiple countries, Wayra is dedicated to fostering innovation and building tomorrow’s future through collaborative efforts.

Sector focus: Software, E-Commerce, Internet, Mobile, IT

Round: seed

Total investments: 1262

Founding Year: 2011

Notable Investments: Remuner, Shakers, Docket, Rand, Cafler

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Demium Capital

Demium Capital is a Venture Capital firm that invests in talented individuals aiming to launch startups, regardless of their initial idea, team, or product. They operate across various innovative sectors and focus on long-term economic cycles. As a technology and innovation specialist, they invest in an average of 35 companies annually. Their approach includes lifetime partnerships with entrepreneurs, helping them from the startup setup to risk management. The firm also manages funds like the Think Bigger Fund I and Follow-on funds, supporting early-stage startups and later-stage portfolio companies.

Sector focus: Software, E-Commerce, SaaS, Travel, IT

Round: early stage venture, seed

Total investments: 63

Founding Year: 2020

Notable Investments: MyCareforce, Tuvalum, Networkme, Logistiko Labs, Habbility

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Nina Capital

Nina Capital is a specialized venture capital firm focused exclusively on the intersection of healthcare and technology. They invest in need-driven founders who are building health tech companies with international ambitions. Based in Barcelona, Nina Capital operates across Europe, the United States, Canada, and Israel. Their investment strategy centers on preseed and seed stages, occasionally including Series A, with ticket sizes ranging from €150k to €1000k. The firm is committed to need-driven founders and has a diverse portfolio spanning 18 countries.

Sector focus: Health Care, Artificial Intelligence, Medical, Biotechnology, Software

Round: convertible, early stage venture, seed

Total investments: 60

Founding Year: 2019

Notable Investments: Ryver, MedaSystems, QuantHealth, Lillian Care, basys.ai

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Inveready

Inveready is a leading asset manager in Spain, established in 2008. They invest across multiple stages, including early-stage venture capital, growth VC, venture debt, strategic public equity, private equity, and infrastructure. Their strategies enable them to provide financing solutions for companies throughout their lifecycle. Inveready has a diverse team with deep industry knowledge, and their portfolio covers various sectors like fintech, mRNA, AI, and blockchain. The firm also emphasizes responsible investment as a key priority.

Sector focus: Software, SaaS, Biotechnology, E-commerce, Health Care

Round: Debt, Early Stage Venture, Private Equity, Secondary Market, Seed, Venture

Total investments: 186

Founding Year: 2008

Notable Investments: Agile ContentEdesa BiotechRevelock, Spacewell Energy, GIGAS

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All Iron Ventures

All Iron Ventures is a venture capital firm focusing on fast-growing, capital-efficient companies with global potential. Established in 2018, they specialize in seed and Series A investments in diverse sectors, including marketplaces, subscription, and SaaS. With assets under management of approximately €140 million and a portfolio of over 50 companies across 11 countries, they are known for their entrepreneurial approach and swift decision-making. All Iron Ventures primarily operates in Europe but also invests in the U.S. and Latin America. They have recently launched a fund of funds program to provide diversified access to the European VC asset class.

Sector focus: Software, E-Commerce, Internet, FinTech, Education

Round: Early Stage Venture, Seed

Total investments: 83

Founding Year: 2017

Notable Investments: Flipflow, Floy, Lime, refurbed, Lastapp

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Other key players

We’re looking into funds with their main activity in Spain, but there are more companies investing in the Spanish market.

Elaia:

Elaia is a leading venture capital firm based in France, specializing in early-stage investments in digital and deep tech sectors.

Target Global :

Target Global is an international venture capital firm that focuses on investing in transformational technology companies.

Notion Capital:

Notion Capital is a venture capital firm based in London, focusing on investing in European SaaS and Cloud companies.

Dawn Capital:
Dawn Capital is a venture capital firm based in London, specializing in B2B software and fintech investments.

Kima Ventures:
Kima Ventures, self-described as the world’s most active business angel, is a venture capital firm that invests in a wide range of startups, emphasizing support with both funding and care.

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Rift raises €4.6M for aerial reconnaissance platform
Fundraising 13 hours ago

Europe’s defence technology sector is witnessing unprecedented investment momentum, driven by shifting geopolitical realities and increasing demand for autonomous surveillance solutions. At the forefront of this transformation sits Rift, a Paris-based startup that has just secured €4.6 million in Series A funding to build Europe’s first on-demand aerial reconnaissance network. The round was led by AlleyCorp, the New York-based venture firm known for backing enterprise technology companies. This investment signals growing transatlantic interest in European defence tech capabilities, particularly as NATO allies prioritise technological sovereignty and autonomous reconnaissance systems. AlleyCorp leads aerial reconnaissance funding round AlleyCorp’s decision to lead this round reflects a broader strategic shift among US investors towards European defence technology startups. The firm, which has previously backed companies like MongoDB and Paperless Post, sees significant potential in Rift’s approach to democratising aerial intelligence gathering across civilian and military applications. “Rift’s technology addresses a critical gap in the European surveillance market,” noted a spokesperson from AlleyCorp. “Their ability to deploy on-demand reconnaissance missions using autonomous systems represents exactly the kind of dual-use innovation we expect to define the next decade of defence technology.” The investment comes at a time when European governments are accelerating defence technology procurement, with the EU’s European Defence Fund allocating €8 billion for collaborative defence research and development programmes. This regulatory tailwind positions Rift advantageously within a market expected to reach €24 billion by 2027. Building Europe’s autonomous surveillance network Rift’s platform combines advanced drone technology with artificial intelligence to provide real-time reconnaissance capabilities across multiple sectors. Unlike traditional surveillance methods that require significant infrastructure investment, the company’s on-demand model enables clients to access aerial intelligence through a software-as-a-service platform. The startup plans to use the funding to expand its autonomous fleet and enhance its AI-powered analytics capabilities. With operations currently focused on France and Germany, Rift aims to establish coverage across major European markets by 2026, positioning itself as the continent’s primary alternative to US-based surveillance providers. “European organisations need surveillance solutions that comply with GDPR and other regional privacy regulations,” explained Rift’s CEO. “Our platform is built from the ground up with European data sovereignty in mind, something that resonates strongly with both government and enterprise clients.” This funding positions Rift to compete directly with established players like Palantir and Anduril, whilst offering European clients the regulatory compliance and data localisation they increasingly demand. As defence technology becomes increasingly intertwined with civilian applications, Rift’s European-first approach may prove to be its strongest competitive advantage.

energy infrastructure funding, grid technology investment, BESS funding
Fundraising 13 hours ago

Europe’s energy infrastructure is undergoing its most significant transformation since electrification began. As renewable energy sources strain aging grid systems and electric vehicle adoption accelerates across the continent, Munich-based Delta Charge has secured €3.7 million to address critical gaps in energy storage and distribution. The funding round, led by Vireo Ventures and Rethink Ventures, positions the startup to capitalise on Europe’s urgent need for battery energy storage systems (BESS) and grid modernisation solutions. This investment reflects growing European investor confidence in energy infrastructure startups as the EU accelerates its transition to renewable energy sources. With the European Green Deal mandating carbon neutrality by 2050, the timing couldn’t be more strategic for Delta Charge’s market entry. Energy infrastructure funding attracts European climate tech investors Vireo Ventures and Rethink Ventures bring complementary expertise to Delta Charge’s growth trajectory. Vireo Ventures, known for backing transformative European climate technologies, sees Delta Charge as addressing fundamental infrastructure challenges that traditional utilities struggle to solve efficiently. Meanwhile, Rethink Ventures’ portfolio focus on sustainable technology solutions aligns perfectly with the startup’s mission to optimise energy distribution networks. “We’re witnessing unprecedented strain on European energy grids as demand patterns shift dramatically,” explains a Vireo Ventures partner familiar with the investment decision. “Delta Charge’s approach to battery energy storage systems offers the scalability and intelligence that Europe needs to maintain grid stability while integrating renewable sources.” The investor combination signals strong European institutional support for energy infrastructure innovation. Both funds have demonstrated expertise in scaling climate tech companies across fragmented European markets, providing Delta Charge with strategic value beyond capital injection. BESS technology targets European grid modernisation Delta Charge’s battery energy storage systems address acute European challenges that differ significantly from other global markets. The continent’s diverse regulatory frameworks, varying grid infrastructures, and ambitious renewable targets create unique technical requirements. The company’s technology optimises energy storage placement and management across these complex, interconnected networks. The €3.7 million funding will accelerate product development specifically for European market conditions and support expansion across key markets including Germany, France, and the Netherlands. Delta Charge plans to leverage regulatory tailwinds from the EU’s REPowerEU initiative, which prioritises energy independence and grid resilience investments. “European energy markets present both immense opportunity and distinct challenges,” notes Delta Charge’s leadership team. “Our BESS solutions are designed specifically for the regulatory complexity and infrastructure diversity that characterises European energy systems.” The startup’s technology addresses critical pain points including grid balancing during peak renewable generation periods and energy storage optimisation for commercial and industrial applications. With European electricity prices remaining volatile and grid stability concerns mounting, Delta Charge’s timing appears particularly astute. This funding round exemplifies the European venture capital community’s increasing focus on infrastructure-critical climate technologies. As European governments commit billions to energy transition initiatives, startups like Delta Charge are positioned to capture significant market opportunities whilst addressing urgent societal needs.

supply chain AI funding
Fundraising 13 hours ago

European supply chain management is experiencing a fundamental shift as artificial intelligence transforms how companies orchestrate their logistics operations. The complexity of modern supply chains, exacerbated by recent global disruptions, has created unprecedented demand for intelligent automation solutions that can adapt to volatile market conditions. Logistica OS, a pioneering AI platform for supply chain optimisation, has secured €15 million in Series A funding to accelerate development of what it calls the “operating system for supply chains.” The round positions the company at the forefront of Europe’s burgeoning logistics technology sector, where traditional manual processes are rapidly giving way to AI-driven intelligence. Supply chain AI funding attracts European investors The funding round was led by prominent European venture capital firms, though specific investor details remain confidential at the company’s request. The investment reflects growing confidence in AI-powered logistics solutions across European markets, where regulatory frameworks like the EU AI Act provide clearer guidelines for enterprise AI deployment than in other regions. European investors have increasingly focused on supply chain technology following the pandemic-induced disruptions that exposed vulnerabilities in traditional logistics networks. The sector has attracted over €2 billion in European venture funding over the past 18 months, with AI-enabled platforms commanding premium valuations due to their ability to process complex, multi-variable optimisation problems in real-time. “The European market presents unique advantages for supply chain AI deployment,” noted one investor familiar with the deal. “Regulatory clarity, combined with sophisticated manufacturing bases across Germany, France, and Northern Europe, creates ideal conditions for enterprise AI adoption in logistics.” Building the AI operating system for European supply chains Logistica OS differentiates itself by treating supply chain management as a unified software platform rather than a collection of discrete tools. The company’s AI system integrates inventory management, demand forecasting, transportation optimisation, and supplier relationship management into a single intelligent interface that learns from historical patterns and market signals. The platform addresses specific challenges facing European manufacturers, including complex cross-border regulations, fragmented supplier networks spanning multiple countries, and the need to balance cost efficiency with sustainability mandates increasingly required by EU legislation. Unlike American competitors focused primarily on scale, Logistica OS emphasises precision and compliance. “We’re not just digitising existing supply chain processes – we’re reimagining how companies think about logistics intelligence,” explains the company’s leadership team. “Our AI doesn’t replace human decision-making; it amplifies it by processing thousands of variables that would be impossible to track manually.” The €15 million will primarily fund product development and European market expansion, with plans to establish offices in key manufacturing hubs across Germany, France, and the Netherlands. The company also intends to strengthen its AI research capabilities and expand integration partnerships with major European enterprise software providers. This funding milestone signals Europe’s growing sophistication in enterprise AI applications, moving beyond consumer-facing products to tackle complex B2B challenges. As supply chain complexity continues increasing, platforms like Logistica OS represent the next evolution of how European businesses will compete globally through intelligent automation.

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