Newcastle marketing tech firm PolyBox seals £500,000 investment deal
Summary
A fledgling Newcastle marketing tech company is set for expansion after receiving a six figure investment boost.PolyBox has been launched by Newcastle University graduates, Rojin Yarhmadi and Nikolaus Benopoulos to operate in the fast-paced world of automated data analysis, reporting and AI. The funding will also allow PolyBox to invest in an AI analysis chat tool, enabling more in-depth analysis of effects on performance.PolyBox has collaborated with the National Innovation Centre for Data based in Newcastle on its technology development so far, and it plans to continue that work in the next phase of development.Rojin Yarahmadi, CEO and Founder of PolyBox, said We are thrilled that the potential of PolyBox has been recognised by our investors at Northstar Ventures, Creative UK and angel investors. The \xa3500,000 investment weve acquired will be transformational for us as we undertake research and testing, growing the team and ultimately develop the product further with enhanced integrations and more. Nikolaos and I firmly believe that automation and AI will bring about huge change in the way marketing agencies provide insights to their clients, and were excited to be taking this offering to the next level thanks to our investment.Tom ONeill, investment manager at Northstar Ventures, said: We are excited to invest in PolyBox alongside Creative UK, North East Combined Authority and angel investors. We look forward to seeing the business continue to grow and working with the management team on the next phase of PolyBoxs development.Sasha Collington, Investment Manager at Creative UK, said: We were impressed by founders, Rojin and Nikolaos, and their innovative solution to enable marketing agencies to demonstrate to their clients the effectiveness of their campaigns using a data-led approach.