Spanish start-up investment tops €1 billion in a single month for the first time

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Spanish start-ups raised €1,107.02 million across 30 deals in September 2026. It is the first month above €1,000 million since the count began in 2016. The previous high was June, with €894.44 million from 43 deals, so the record arrived with fewer transactions rather than more.

Most of it came from a handful of cheques. Open Cosmos, PLD Space and Fever together account for €806 million, over 70% of the month. Add iPronics and Anaconda BioMed and the five largest reach €963 million, almost 87%. Aerospace led with €588 million from just two rounds: €300 million for Open Cosmos, and PLD Space's Series C, extended to €288 million. Fever's €218 million put leisure second and deeptech followed with €116 million. Ehealth was the busiest by count, with five rounds totalling €76.4 million.

Madrid led with €556.5 million over eight deals. The Valencia region took €415.2 million and Catalonia €92.6 million across seven. Public or semi-public backers such as SETT, AXIS, CDTI, COFIDES and ENISA appeared in 12 of the 30 rounds.