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Techspace Raises $7.23 Million in Series A

A Successful Start is Half the Battle Won!

About Techspace & its funding round

U.K.-based Techspace is a flexible co-working space, specifically designed to help fast-growing technology and scale-up tech companies. Recently, Techspace raises $7.3 Million through a consortium led by well-known property investor and entrepreneur Leo Neo in Series A round of funding. The round was managed by Goldacre Ventures. The new funds will be utilized for expansion both in London and Berlin. The main aim of Techspace is to bridge ‘scale-up gap’ in UK.

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 companies by helping them to fill the ‘scale-up gap’ through offering sustainable, flexible space that adapts to their growth. Currently, Techspace houses Virgin Media, Business Insider, Techstars and Squawka among its community of tech startups and scale-ups.

Given that just one percent of Britain’s scale-up population should drive an additional 238,000 jobs and £38 billion to GVA within three years, harnessing this potential is essential for the future of the UK economy.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.

Words of Wisdom from David Galsworthy

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.”

Takeaways:

  • Techspace raises $7.3 Million through a consortium led by well-known property investor and entrepreneur Leo Neo in Series A round of funding.
  • The new funds will be utilized for expansion both in London and Berlin.
  • The main aim of Techspace is to bridge ‘scale-up gap’ in UK.
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