London coworking space company Techspace raises £5 million

London co-working space for scaleups, Techspace, has raised £5 million in Series A funding from a consortium led by real estate investor Leo Noé and managed by Goldacre Ventures.

Techspace supports both startups that are beginning to scale and more established companies across five locations in London. It’s currently home to Virgin Media and Techstars.

The funding will be used to expand its London presence, which it has been building since it was founded in 2012, and will bridge the so-called “scaleup gap” in London’s startup scene.

“We empower our community to focus solely on growth and innovation, leaving workspace considerations to us,” said Techspace CEO and cofounder David Galsworthy, explaining the growth of coworking space in recent years.

“This investment will enable us to continue supporting tech companies in their growth beyond being startups and develop our offerings in London.”

“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,” added Goldacre Ventures CEO David Bloom.

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