Member Article

Techspace puts Series A funds to use with new Aldgate coworking space

Coworking office provider Techspace has announced it is to expand its East London presence with a new six-floor office in Aldgate, an area that is becoming increasingly popular for high-growth tech firms.

The new Leman Street premises, which opens today, are the first fruits of the startup’s £5m Series A funding round which it closed in June following participation from a consortium led by entrepreneur Leo Noé and managed by Goldacre Ventures.

Joining Techspace’s five other tech hubs in the capital, including sites in Old Street and Shoreditch, the new Aldgate site totals 27,000 sq ft and provides 450 workstations for Series A funded tech companies who are looking to scale up their operations.

The area itself is becoming increasingly popular with high-profile tech firms, with Uber, General Assembly and Unruly Media all establishing headquarters there in recent months.

David Galsworthy, who founded Techspace in 2012 with Alex Rabarts and is now its Chief Executive, said that the residential and commercial development pipeline currently planned for Aldgate made it a natural choice for its new offices.

He commented: “With a host of new amenities being built for Aldgate, the expansion to Leman Street is a natural progression for us.

“It is a vibrant area that has already seen a number of tech giants move in recently and we expect demand to continue to grow as London remains a premier location for technology companies to operate in.”

The coworking startup has also announced that it is to begin offering ‘enterprise memberships’ for the first time, providing ambitious companies with self-contained, branded floors along with exclusive access to meeting rooms and kitchens.

Techspace says the new service will help firms develop their company culture without being shackled by long-term, restrictive leaseholds.

Galsworthy added: “By offering new enterprise memberships we’re enabling tech companies to finally personalise a coworking space and make it their home.”

Techspace’s coworking spaces in the capital currently house the likes of Virgin Media Techstars, Squawka and Business Insider, and the firm has also announced plans to open its first space in Berlin.