The second quarter of tech investments in Barcelona was overshadowed by the merger between Wallapop and Letgo in the US market that resulted in Letgo raising a round of €90 million.
However, there have been other encouraging examples from Barcelona, such as ABA English which raised 12 million from Nauta Capital and Kennet Partners. Other multimillion startup rounds include Inbenta (€10.2 million), Travelperk (€6.3 million), and iContainers (€6 million).
Apart from tracking investments on our own by monitoring the eco-system, we also get a monthly report from Index Spain.
Down from Q1
From the 18 investments we tracked over the last quarter, the total amount invested in Barcelona was €130.806.317 (today’s currency). There was a couple of undisclosed investments as well, but only small seed rounds that wouldn’t drastically change the final outcome of the total list.
Over half of the investments were seed rounds, giving us hope that there will be plenty of series A rounds to cover next year.
However, because of all the seed rounds, the total investment amount (not counting Letgo) is quite lower than in Q1, going from €38 million to around €30 million.
Barcelona still leading the way
In Madrid the rounds of both Cabify (€108 million) in April and Jobandtalent’s (€37 million) recent round made its mark on the city’s investment. In Madrid we tracked seven rounds, and a couple of rounds in both Valencia, Mallorca and Sevilla.
However, with its 18 rounds, Barcelona was responsible for over half of the 33 rounds in Spain.
As summer closes up, funding activity slows down, but we’re crossing out fingers for busier times and bigger rounds come fall.