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AI firm receives £500,000 investment to support tech development

PolyBox has received an investment of £500k to support its development of AI technology, with £300k coming from Northstar Ventures.

Founded by two Newcastle University graduates, Rojin Yarahmadi and Nikolaus Benopoulos, PolyBox operates in the world of automated data analysis, reporting and AI.

The total funding round of £500,000 was led by the North East Innovation Fund supported by the European Regional Development Fund and managed by Northstar Ventures, alongside Creative UK’s North of Tyne Culture and Creative Investment Programme and angel investors.

PolyBox’s data analysis and reporting tool enables marketing agencies to view data from multiple sources like Google and Meta in a real time dashboard and auto-generate PowerPoint style reports for end customers.

Rojin Yarahmadi, chief executive 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 £500,000 investment we’ve 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 we’re excited to be taking this offering to the next level thanks to our investment.”

Tom O’Neill, investment manager at Northstar Ventures, said: “We are excited to invest in PolyBox alongside Creative UK, North East Combined Authority and angel investors.

“Rojin and Nikolaos have developed an innovative and compelling product catering to marketing agencies and will be using their expertise in AI to develop the product further over the next 12 months.

“We look forward to seeing the business continue to grow and working with the management team on the next phase of PolyBox’s development.”

May 29, 2024

  • Business & Economy

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