About two weeks ago, Mindspace announced it had raised $15 million to power its US and European expansion.
Though Mindspace remains tight-lipped about its long-term plans, a spokesperson revealed to Allwork that the coworking provider is working on opening new locations in several regions before the end of the year.
In an email interview with Dan Zakai, CEO of Mindspace, Allwork learned more about what the Tel Aviv coworking brand has in store for the future.
Regarding the timing of the funding round, Zakai stated, “we raised capital now to allow for our expansion into the US market”, adding that it will also enable the brand to continue funding “the same level of custom, unique, and local design that Mindspace has specialized in.”
Zakai remained, for the most part, secretive about the exact cities that will become home to a Mindspace location in the near future. He did, however disclose that Munich was a natural decision following the tremendous success Mindspace has had in Berlin and Hamburg.
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The $15 million, Zakai tells us, will be fully used “to begin our operations in the US market and continue our expansion in Europe. The funding will also be used for the development of our product and community.”
The product Zakai is referring to includes Mindspace’s carefully thought-out design. “We like to maintain a Mindspace look and feel across locations, while also giving each one a local flavor with a timeless feel. The local flavor comes from adjustments based on the nature of the neighbourhood, together with local artists, furniture and accessories from local markets.”
Timewise, Zakai expects to open at least 5 new locations during the third and fourth quarters of this year, with the possibility of more.