Member Article

Organisation looking to ‘bridge scale-up gap’ in UK secures £5m Series A funding

Co-working space Techspace has announced the successful closure of its £5m Series A funding round that leaves it poised to expand across the UK.

The London-based business, which offers flexible working space aimed specifically at fast-growth scale-up tech companies, attracted investment from a consortium led by entrepreneur Leo Noé and managed by Goldacre Ventures.

With five coworking sites in some of the capital’s tech hotspots, including Old Street and Shoreditch, the firm boasts a number of high-profile occupants including Virgin Media and online platform Squawka.

It is now looking to spread its wings across the UK, and has targetted a new space in Berlin as it makes its first inroads into the continent.

David Galsworthy, Chief Executive Officer and co-founder of Techspace 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.

“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, Chief Executive Officer 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.”