A London startup space provider wants to capitalise on Berlin's fast-growing tech scene
Techspace
The company - founded by entrepreneurs David Galsworthy (CEO) and Alex Rabarts (CTO) in 2012 - raised the money through a consortium led by real estate investor and entrepreneur Leo Noé.
Techspace provides flexible coworking space designed for fast growing technology companies as well as larger, more established businesses like Virgin Media and Business Insider UK. It boasts over 1,000 members from more than 50 businesses.
The company currently has five coworking locations across London but the Berlin location will be Techspace's first overseas outpost when it opens towards the end of this year in the city's Mitte district.
Techspace said its Berlin site will boast approximately 20,000 square feet and enough room for up to 300 members. It added that prices will be in line with how Techspace positions itself in London, where memberships go from £315 per member per month up to £9,800 per month for an enterprise.
In Berlin, Techspace will be competing with local startup space provider Factory Berlin as well as the likes of WeWork, which is arguably the largest coworking space provider worldwide. The latter opened up its first outpost in Berlin earlier this month.
Berlin's tech scene has taken off in the last few years and the city is now home to a number of well-known startups, including food delivery startup Delivery Hero, music startup SoundCloud, and startup builder Rocket Internet.
Index Ventures investor Timm Schipporeit told Business Insider in Berlin earlier this month that he expects Berlin to overtake London as Europe's biggest technology hub within the next few years.
David Galsworthy, CEO and cofounder of Techspace, said in a statement:
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.
Full disclosure: Business Insider UK is a Techspace tenant.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Rupee falls 10 paise to settle at 83.48 against US dollar
- Include 4 hrs of physical activity, 8 hrs sleep in routine for optimal health, suggests study
- 11 must-visit tourist places in Nainital in 2024
- Indegene's ₹1,842 crore IPO to open on May 6
- BSE shares tank nearly 19% after Sebi directive on regulatory fee