Factory, a Berlin, Germany-based co-working space company, raised €1m in seed funding.
Backers included Round Hill Capital, 500 Startups, Elkstone Capital, as well as angels Christian Reber, Matthias Ummenhofer, Florian Moerth, Moritz Sell, and others.
The company intends to use the funds to expand across Europe.
Led by founder Simon Schaefer, Factory is building homes for startup communities around the world to collaborate, learn and grow together. They also represent a physical interface between startups and established industry, policy, and academia. The network currently consists of formal and informal partners, current and former collaborators and friends.
Every location is based on six core elements including:
The company currently operates 2 facilities in Berlin and is expanding in Lisbon.