index.jpe2Techspace is a flexible coworking space specifically designed for fast-growth tech scale-up companies. This week it announces a new funding round of £5M ($7.23M) raised through a consortium led by real estate investor and entrepreneur Leo Noé, and managed by Goldacre Ventures.

Co-founded by serial entrepreneurs David Galsworthy and Alex Rabarts in 2012, Techspace not only supports small tech startups, but also larger, more established companies by helping them to bridge the ‘scale-up gap’ through offering sustainable, flexible space that adapts to their growth.

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Techspace currently 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. The investment will be used to develop its presence in London and Berlin.

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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.”  index

David Bloom, CEO at Goldacre Ventures also comments:

“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.”