Techspace lands £5m to increase office space for scale-up companies
Flexible co-work space provider has secured investment from real estate tycoon Leo Noé as it looks to expand its reach in London and Berlin
Techspace, a specialist in flexible co-working space for fast-growth tech businesses, has closed a £5m Series A round with backing from real instate investor and multi-millionaire Leo Noé and Goldacre Ventures.
Founded by David Galsworthy and Alex Rabarts in 2012, London-based Techspace focuses on supporting scale-up companies alongside larger more established businesses such as Virgin Media and Squawka.
It is home to over 75 businesses across five locations in London in and around the Old Street area – with space for 1,000 members – and intends to use this latest investment to drive growth in the capital and to expand to Berlin “given the city’s established reputation”.
The start-up is competing with the likes of Techhub, Regus, and WeWork.
On the investment, Galsworthy commented: “Co-working has already grown exponentially over the past few years. There’s been a huge, global shift towards flexible, collaborative workspaces, particularly in technology. This investment will enable us to continue supporting tech companies in their growth beyond being start-ups.”
David Bloom, CEO at Goldacre Ventures, added:
“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.”