Spain’s tech ecosystem surpasses 10,000 companies as AI grows 210% in one year

Something unusual is happening in Spain. While much of European tech coverage focuses on Berlin, London, Paris, and the Nordics, Spain has quietly built one of the continent’s most dynamic startup ecosystems — and the latest data suggests the gap with Northern Europe is closing faster than most people realise.

Two major reports released in the first half of 2026 paint a picture of an ecosystem that has moved well past the “emerging” label. The National Tech & Innovative Companies Report 2026 by Scoutyn — one of the most comprehensive mappings of Spain’s technology landscape — reveals that the country has surpassed 10,000 active tech companies for the first time. And the Spain Tech Ecosystem Report 2026 by Dealroom, produced in collaboration with Endeavor, BBVA Spark, GoHub Ventures, Kfund, and others, shows the total value of Spanish startups has reached €125 billion.

The headline numbers

The Scoutyn report, based on data verified with Spain’s Mercantile Registry, documents 10,294 tech companies active in Spain as of 2025. Together they generate more than 137,000 jobs and an economic impact of €19.4 billion — increases of 26.9% and 31.2% respectively, both outpacing the rate of new company creation. The message is clear: Spain’s tech ecosystem is not just growing in number, but growing in substance.

The Dealroom report adds the investment layer: Spanish startups raised €3.1 billion in venture capital in 2025, making it the third best year on record — behind only the exceptional years of 2021 (€4.4 billion) and 2022 (€3.6 billion). More than 600 unique investors participated in funding rounds, with domestic VCs accounting for 43% of activity. Early-stage and breakout-stage funding both posted near-record years.

AI: the fastest-growing segment by far

The most striking number in both reports is the explosion of artificial intelligence. Spain went from 309 to 959 AI-focused companies in a single year — a growth rate of over 210%. AI is now the third-largest vertical in the Spanish tech ecosystem and the fastest-growing segment by a wide margin.

Almost one in five startups founded in Spain since 2021 is an AI company — a share that has more than doubled compared to the previous decade. Spain’s AI ecosystem has grown 3.7x since 2020, making it the third-fastest growing AI market in Europe among countries with ecosystems valued above €10 billion. In investment terms, Spanish AI startups have attracted €3.3 billion since 2020, positioning Spain sixth in Europe by AI investment volume.

The largest AI-related funding rounds in 2025 included Multiverse Computing (€189 million Series B — quantum computing), Perk (€182 million Series E), and Auro Travel (€180 million late-stage VC) — a trio illustrating the sectoral diversity of Spain’s AI momentum.

Madrid vs Barcelona: the 25-company gap

Spain operates under what Mind the Bridge calls a “scaleup duopole” — two major hubs rather than one dominant capital. And the race between them has never been closer.

Catalonia retains the lead in total tech companies with 2,632 firms, but Madrid has closed the gap to just 25 companies (2,607). In terms of the city itself — rather than the autonomous community — Madrid leads: 1,801 tech companies, 833 startups, and 140 scaleups, all ahead of Barcelona.

In investment terms, Madrid and Barcelona each attracted approximately €1.1–1.2 billion in VC funding in 2025, together concentrating more than two-thirds of national investment. Both cities have attracted more than €1,000 per capita in startup investment since 2020.

Beyond the two poles, Andalusia recorded the largest percentage growth of any major region — rising from 714 to 885 tech companies and emerging as the only top-five community to increase its number of startups. Valencia, Bilbao, and Malaga are also showing up consistently in ecosystem maps, accelerator programmes, and investor conversations.

Maturity signals: fewer startups, more scaleups

One of the most telling findings in the Scoutyn report is a structural shift beneath the headline numbers. The raw count of “startups” actually declined slightly — from 5,010 to 4,856. But the number of scaleups rose to 672, and technology SMEs increased to 4,605. This is not a sign of weakness — it is a sign of maturation. Companies are graduating from early-stage to growth, which is exactly what a healthy ecosystem should produce.

Spain now has over 360 VC-backed university spinouts with a combined value of $10.5 billion — four times the figure in 2019 — and a record of more than $500 million raised in 2025 alone. The Technical University of Madrid, Universitat Politècnica de Catalunya, University of the Basque Country, CSIC, BIST, and ICREA are the leading sources of spinout activity.

The gender gap: still 17%

Despite the dynamism of the ecosystem, the gender gap remains one of Spain’s most significant unresolved challenges. Women represent only 17% of the founders of technology companies in Spain — a percentage that has barely moved year-on-year. In a country with strong female participation in university education and the broader workforce, the startup ecosystem’s inability to close this gap is a structural issue that warrants sustained attention.

What this means for European tech

Spain is the eighth-largest tech ecosystem in Europe by total value and the second-fastest growing over the past five years. Its dual-hub model, growing regional diversity, deepening AI specialisation, and maturing scaleup pipeline make it one of the most interesting ecosystem stories on the continent right now.

For founders elsewhere in Europe, Spain offers a combination of factors that is increasingly hard to ignore: lower operating costs than London or Paris, access to both the EU single market and Latin America, strong public support mechanisms (ENISA participative loans, NEOTEC grants, the Startup Law), and a talent pool emerging from world-class research institutions.

For investors, the data is equally compelling: domestic VC participation is strong (59% of early-stage funding comes from local funds, the fourth-highest rate in Europe), late-stage funding is the remaining gap to fill, and the pipeline of university spinouts is accelerating.

The Scoutyn report was supported by CDTI Innovación, ENISA, ICEX, Fundación madri+d, the Basque Government, Xunta de Galicia, SODERCAN, and Madrid City Council, alongside ecosystem players including Samaipata, Kibo Ventures, Endeavor, and Las Rozas Innova. The full report is available on request from Scoutyn.