Factory Berlin raises funding from the RAG-Stiftung

Factory Berlin, a community space and initiative in Berlin focused on design and entrepreneurship, has raised an undisclosed amount from the German-based foundation RAG-Stiftung.

Officially opened in 2014, Factory has two locations in Berlin — in the neighbourhoods of Mitte and Görlitzer Park — with facilities including coworking and event spaces for startups and freelancers. It also collaborates with corporates such as Siemens, Deutsche Bank, and Audi, which offer corporate incubation and other services for startups.

“The founding of Factory Berlin in 2011 was inspired by the artist Andy Warhol with the aim to combine art and digitisation,” said Udo Schloemer, founder, chief visionary officer, and managing director of Factory Berlin. “Therefore, we at Factory Berlin don’t only focus on tech startups, but also on art and design. We are now delighted to have successfully completed the first institutional financing round with the RAG-Stiftung and to be able to begin the next growth phase of Factory Berlin. The RAG-Stiftung brings not only a network but also a long-term investment focus, which we would not have had with normal VC financing.”