Spain’s seed startups show a lower single-round funding share than Sweden’s
- 45.1% of Spain’s seed startups raised only one round
- 49% of Sweden’s seed startups raised only one round
- Pre-seed single-round share is higher in Spain at 55%
Across the 1,896 seed and pre-seed startups Brouky tracks from Spain and Sweden with first tracked rounds at least two years ago, Spain’s seed-stage startups exhibit a 45.1% share of single-round fundraises, compared to 49% in Sweden. These figures may partly reflect expanding data coverage over time.
Looking at pre-seed startups, the single-round share is 55% in Spain, notably higher than Sweden’s 52.3%.
SINGLE-ROUND FUNDING SHARE BY STAGE AND COUNTRY
The overall share of startups that raised exactly one tracked round and never raised again is nearly identical between the two countries, at 47.5% in Spain and 47.1% in Sweden.
These figures reflect a "did not raise again" rate within tracked rounds, acknowledging that some second rounds may be untracked, inflating the level. Nonetheless, the cross-country comparison remains meaningful for understanding relative funding persistence.
Related insights
- Cross-Country AnalysisSpain’s early-stage startups show a 2.7 percentage point higher single-round funding share than Sweden
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