December 15, 2022

Spain’s fastest growing startups outside of Madrid and Barcelona


Spain’s startup ecosystem is slowly but surely coming of age. It got its 10th unicorn in Factorial in October and successful entrepreneurs are beginning to put money back into the ecosystem.

The country’s startup scene has historically been centred around the two big cities of Madrid and Barcelona, but today more and more tech companies are raising funding from around the country.

So, which startups from outside of the two main hubs are growing fastest? Sifted analysed headcount data from Dealroom (which is pulled from LinkedIn) to give us a picture of which teams have been growing at the fastest rate over the past 12 months.

To avoid the results being skewed by younger startups with smaller teams, the list only includes companies founded since 2015 that have raised €10m or more.


2/ Multiverse Computing

Multiverse Computing sells its quantum computing software to financial clients like BBVA, the European Tax Agency and the Bank of Canada, as well as industrial manufacturing companies like Bosch.

The company raised a €10m round in October 2021, and received a further €12.5m from the European Innovation Council two months later.

Speaking to Sifted ahead of the fundraising, it said the company would “have to grow like hell” to compete with institutional players like IBM and Google, which are also working on quantum computing.

Founded: 2019
HQ: San Sebastián
Team growth over 12 months: 131%, to 60 people
Total funding: $40.4m

Find Sifted's full article here.