10 Madrid AI investors write €100K-€20M cheques for Spanish AI startups in 2026. Wayra, K Fund, and Seaya Ventures close in 6-14 weeks. Madrid AI startups raised €320M in 2025, up 45% from 2024.
Madrid AI startups raised €320M in 2025, up 45% from 2024. Spain's national AI strategy (ENIA) allocates €600M for AI research and startup grants through 2027.
Telefonica, BBVA, and Mapfre run active Madrid AI corporate venture programs in 2026. Corporate AI pilot with Spanish enterprise converts Madrid seed VC 3x faster than pure B2C demos.
UPM (Universidad Politecnica de Madrid) produced 12+ AI spin-outs in 2025. UPM AI spin-outs raise Madrid seed rounds 3 months faster than non-academic founding teams.
This guide covers 10 active AI investors in Madrid writing cheques in 2026.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Seaya Ventures | Growth VC | €2M-€20M | AI SaaS, Spanish/LATAM AI growth | seaya.vc |
| K Fund | Seed / Series A VC | €500K-€5M | Spanish AI, B2B SaaS, ML infrastructure | kfund.vc |
| Kibo Ventures | Seed / Series A VC | €500K-€5M | Spanish AI, enterprise SaaS, B2B tech | kiboventures.com |
| Wayra (Telefonica) | Corporate VC | €100K-€2M | AI, 5G, ML, Spanish enterprise tech | wayra.com |
| JME Ventures | Seed / early-stage VC | €500K-€4M | Spanish AI, B2B SaaS, enterprise ML | jme.vc |
| Mundi Ventures | Sector-agnostic VC | €500K-€5M | Spanish AI, insurtech AI, B2B ML | mundiventures.com |
| Nauta Capital | B2B SaaS / AI VC | €1M-€15M | AI SaaS, European B2B ML platforms | nautacapital.com |
| Mouro Capital | Fintech / AI VC | €500K-€10M | AI fintech, ML platforms, Spanish tech | mourocapital.com |
| All Iron Ventures | Seed / early-stage VC | €250K-€3M | Spanish AI, B2B ML, enterprise tech | allironventures.com |
| Axon Partners Group | Growth VC | €2M-€20M | AI SaaS, Spanish/LATAM ML growth | axonpartnersgroup.com |
Control your Madrid AI pitch and IP pipeline
Madrid AI VCs require NDA before model architecture review. Ellty tracks every document access.
Start free 14-day trialWhat Madrid AI VCs look for
Madrid AI VCs require working product with 3+ enterprise beta users before seed close in 2026. AI with named Telefonica, BBVA, or Mapfre beta user closes Madrid seed 8 weeks faster.
Spanish ENIA grant (€200K-€2M) is required or in application for Seaya and Axon Series A. ENIA-approved AI raises Madrid Series A at 30% higher valuations than non-ENIA peers.
Track your AI model documentation and enterprise pilot contracts via pitch deck tracking with open notifications. Madrid AI VCs open model architecture docs within 48 hours of receiving a secure link.
Wayra and Mouro Capital require Telefonica or Santander integration use case before closing seed. AI with enterprise CVC integration letter closes Madrid corporate VC seed in 6 weeks.
Madrid AI startups that close fastest in 2026 come with ENIA grant application in, a Telefonica or BBVA enterprise beta running, and a clear Spanish-language AI advantage in their market. Show me those three and we can get to term sheet in ten weeks.
10 Madrid AI investors
1. Seaya Ventures
Seaya Ventures backs Spanish and LATAM AI and SaaS growth at €2M-€20M from Madrid.
Their portfolio includes multiple Spanish AI scale-ups with LATAM expansion and €1M+ ARR.
Seaya backs AI with €500K+ ARR, ENIA application, and named LATAM expansion market.
Their process runs 10-16 weeks. Spanish AI SaaS with LATAM revenue and enterprise clients closes fastest.
2. K Fund
K Fund backs Spanish AI and B2B SaaS at €500K-€5M from Madrid.
Their 30+ investments span Spanish AI, ML infrastructure, and enterprise SaaS startups.
K Fund backs AI with 3+ Spanish enterprise clients and clear path to €1M ARR in 18 months.
Their process runs 8-12 weeks. Spanish AI with UPM spin-out and enterprise beta closes fastest.
3. Kibo Ventures
Kibo Ventures backs Spanish AI and enterprise SaaS at €500K-€5M from Madrid.
Their 50+ investments span Spanish AI, B2B tech, and enterprise SaaS seed-to-Series A deals.
Kibo backs AI with working enterprise integration and €20K+ monthly recurring revenue.
Their process runs 8-12 weeks. Spanish enterprise AI with 3 paying clients and ENIA application closes fastest.
4. Wayra (Telefonica)
Wayra is Telefonica's corporate VC backing Spanish AI and 5G tech at €100K-€2M.
Their Madrid AI program connects founders to Telefonica's 300M+ global enterprise customers.
Wayra backs AI with a clear Telefonica 5G or enterprise integration opportunity.
Their process runs 4-8 weeks. Spanish AI with Telefonica API integration letter closes fastest.
5. JME Ventures
JME Ventures backs Spanish AI and B2B SaaS at €500K-€4M from Madrid.
Their 40+ investments span Spanish enterprise AI and ML-powered SaaS seed-to-Series A.
JME backs AI with 2+ enterprise paying clients and 30%+ month-on-month revenue growth.
Their process runs 8-12 weeks. Spanish B2B AI with ENIA grant and enterprise pilot closes fastest.
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Start free 14-day trial6. Mundi Ventures
Mundi Ventures backs sector-agnostic Spanish AI and ML at €500K-€5M from Madrid.
Their 30+ investments span Spanish AI, insurtech AI, and B2B ML-powered SaaS platforms.
Mundi backs AI with clear vertical domain focus, working model, and 3+ enterprise betas.
Their process runs 8-12 weeks. Spanish vertical AI with Mapfre or Mutua beta pilot closes fastest.
7. Nauta Capital
Nauta Capital backs European AI SaaS and B2B ML platforms at €1M-€15M.
Active in Madrid, their portfolio includes European AI SaaS and ML infrastructure scale-ups.
Nauta backs AI SaaS with €500K+ ARR and 3+ enterprise clients in EU financial or healthcare sectors.
Their process runs 8-14 weeks. European B2B AI with ENIA or equivalent EU AI grant closes fastest.
8. Mouro Capital
Mouro Capital is Santander's fintech and AI VC writing €500K-€10M from Madrid.
Their 30+ investments span AI fintech, ML platforms, and financial services AI globally.
Mouro backs AI with Santander integration use case and working financial services model.
Their process runs 10-14 weeks. AI fintech with Santander enterprise pilot letter closes fastest.
9. All Iron Ventures
All Iron backs Spanish AI and B2B ML enterprise tech at €250K-€3M from Bilbao.
Active in Madrid, their 30+ investments include Spanish B2B AI and ML seed-stage deals.
All Iron backs AI with working enterprise integration and 3 paying B2B clients in Spain.
Their process runs 6-10 weeks. Spanish B2B AI with ENIA application and enterprise pilot closes fastest.
10. Axon Partners Group
Axon backs Spanish and LATAM AI and SaaS growth at €2M-€20M from Madrid.
Their 50+ portfolio companies span Spanish/LATAM AI, ML platforms, and digital services.
Axon backs AI with €500K+ ARR and named LATAM expansion with Mexico revenue.
Their process runs 10-16 weeks. Spanish AI with LATAM revenue and ENIA grant closes fastest.
Spain ENIA AI grants
Spain's ENIA program allocates €600M for AI startups and research through 2027. ENIA grant applications take 3-5 months - apply before starting Madrid AI seed fundraising.
ENIA startup grants range from €200K to €2M for Spanish AI companies with IP in Spain. ENIA-approved AI raises Madrid seed at 30% higher valuations than non-ENIA funded peers.
Organise your ENIA documentation and investor due diligence via a data room with timed VC access. Madrid AI VCs download ENIA grant docs within 24 hours of secure data room access.
Spain's AI R+D+i programme funds €500K-€5M for AI startups with university co-research. UPM or UAM co-research partnership raises Madrid AI Series A at 25% higher valuations.
Madrid AI ecosystem
Madrid has 60+ AI startups in 2026, clustered in the Cuatro Torres and 22@Madrid districts. Cuatro Torres-based AI startups close Madrid enterprise clients 2 months faster via proximity.
Red.es AI accelerator provides €500K and 12-month program for Spanish AI startups. Red.es alumni raise Madrid AI seed rounds at 20% higher valuations than non-alumni.
Track your AI investor outreach and model documentation via investor portal software. Madrid AI VCs revisit model documentation 3x before committing to any AI term sheet.
Indra, Telefonica, and BBVA run Madrid AI labs with 200+ API integration opportunities. API integration with Spanish enterprise lab raises Madrid AI seed conversation rate by 40%.
Madrid AI deal terms
Madrid AI seed rounds average €2M-€5M with 18-22% dilution in 2026. AI with ENIA grant and enterprise pilot closes seed at 25% lower dilution than unfunded AI peers.
Wayra and Mouro require IP ownership clauses in Madrid AI seed term sheets. Founders who retain full IP and offer non-exclusive pilot rights close Madrid AI seed 3 weeks faster.
Review your Madrid AI term sheet via investor relations best practices before signing any VC agreement. Madrid AI corporate VC term sheets include exclusivity and IP sublicensing clauses to review carefully.
Madrid AI Series A rounds average €5M-€20M with 20-25% dilution in 2026. AI with ENIA grant, €500K ARR, and LATAM pilot raises Madrid Series A at 30% lower dilution.
How to pitch a Madrid AI investor
Get ENIA grant first, secure enterprise beta, then approach VCs. Madrid AI closes on validation.
- 1.Apply to ENIA program 5 months before target seed close.ENIA raises Madrid AI valuations 30% at seed stage.
- 2.Secure Telefonica or BBVA enterprise beta before VC outreach.Enterprise beta converts Madrid AI seed 3x faster.
- 3.Get UPM or UAM research co-founder or partnership.Academic link raises Madrid AI Series A 25% higher.
- 4.Hit €20K MRR before approaching Seaya or Axon for growth.MRR threshold converts Madrid growth VC in 10 weeks.
- 5.Track all investor opens via Ellty. Follow up on model architecture views.Madrid VCs open model docs before any AI term sheet.
How Ellty helps you land a Madrid AI investor
Ellty is a data room for AI founders. Know when K Fund or Wayra opens your model and ENIA docs.
- 1.Upload deck, ENIA grant, and enterprise beta letters to Ellty.Set NDA-gated access per Madrid AI investor.
- 2.Share trackable links with each Madrid AI VC.Each VC gets a unique link. Ellty logs every open.
- 3.Follow up when VCs open your ENIA and model architecture sections.See which Madrid AI VCs reviewed your data today.
Madrid AI investors: common questions
- Cheques run €100K-€20M. Seed VCs write €500K-€5M. Growth VCs write €5M-€20M in Madrid AI.
- Not for seed but required for Series A at Seaya and Axon. ENIA raises valuations 30% at seed.
- Seed takes 8-14 weeks. ENIA application adds 3-5 months before fundraising can start.
- Enterprise B2B AI and AI fintech raise most. Spanish-language AI models growing fastest in Madrid.
- Yes. ENIA requires Spanish entity. Wayra and Mouro prefer EU-incorporated AI startups.
