June 23 ,2016 | by Hari Sri

Techspace to support scale-up companies with office space

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Techspace has secured investment from multimillionaire Leo Noé and Goldacre Ventures to enable it to expand and provide extra space for scale-up companies.

The company, which is based in London and specialises in providing flexible co-working space for fast-growth tech companies, will use the £5 million Series A funding to drive growth in the city.

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Techspace was founded in 2012 and is now home to 75 businesses in London. It has five co-working sites across London, including in Old Street and Shoreditch, and currently has space for 1,000 members.

In addition to providing space for smaller companies, the company also supports larger businesses such as Virgin Media and online company Squawka.

The company will also use the investment to expand across London and in Berlin and provide extra space for tech companies that are looking to grow. 

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David Galsworthy, who founded the company with Alex Rabarts, said: “Coworking has already grown exponentially over the past few years. There’s been a huge, global shift towards flexible, collaborative workspaces, particularly in technology.”

He added: “We empower our community to focus solely on growth and innovation, leaving workspace considerations to us.”

Commenting on the investment, Galsworthy stated that it will enable Techspace to continue supporting tech companies in their growth beyond being start-ups, develop its offerings in London, and also expand to Berlin, which he said is “a destination that makes perfect sense given the city’s established reputation as a hub for technology innovation.”

Hari Sri

Hari is the LSBF Blog's News Editor. He manages the editorial content on the blog and writes about current affairs, SME, entrepreneurship, energy, education and emerging market news.

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