HomeFundingLondon-based coworking space Techspace secures £5M to develop its presence in London...

London-based coworking space Techspace secures £5M to develop its presence in London and to expand to Berlin

Techspace, the UK-based provider of coworking spaces for fast growing startups, today announced a new funding round of £5 million raised through a consortium led by real estate investor and entrepreneur Leo Noé and managed by Goldacre Ventures.

Co-founded by serial entrepreneurs David Galsworthy (CEO) and Alex Rabarts (CTO) in 2012, Techspace not only supports small tech startups, but also larger, more established tech companies by helping them to bridge the ‘scale-up gap’ through offering sustainable, flexible space that adapts to their growth. With space for over 75 disruptive technology businesses and over 1000 members across five locations in London, Techspace has already grown to over thirty times its initial size. The investment will be used to develop its presence in London and Berlin.

David Galsworthy, CEO and cofounder of Techspace comments: “Coworking has already grown exponentially over the past few years. There’s been a huge, global shift towards flexible, collaborative workspaces, particularly in technology. We empower our community to focus solely on growth and innovation, leaving workspace considerations to us. This investment will enable us to continue supporting tech companies in their growth beyond being startups, develop our offerings in London and also expand to Berlin – a destination that makes perfect sense given the city’s established reputation as a hub for technology innovation.”

David Bloom, CEO at Goldacre Ventures comments: “I’m excited by the possibilities Techspace offers for both the property market and London’s burgeoning technology scene. After witnessing the culture Techspace has fostered for scale-up businesses in London in such a short space of time, I think it’s important this expands internationally to drive further technology innovation.”

By the way: We recently published an overview about coworking spaces in London, Paris, Berlin and Riga. Check it out!

Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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