Newcastle tech firm PolyBox has raised a further £700,000 in funding.
The platform helps marketers to collect and report on data, giving them the ability to forecast, model and engage effectively with that data.
North East venture capital firm Northstar Ventures first invested in the company in 2024 and followed up recently with another investment of £150,000 from the North East Innovation Fund, with the support of The North East Mayoral Strategic Authority led by North East Mayor, Kim McGuinness.
A further £250,000 came from angel investors and a £300,000 grant was secured from Innovate UK, bringing the recent total raised to £700k. It will enable the company to focus on integrating AI into its products to automate reporting and generate critical insights for customers.
In all, the company has raised £1.5m through investment and grants, including Innovate UK, Creative UK and angel investors since its pre-seed stage.
“With the successful completion of our investment round and the support of the Innovate UK Investor Partnership grant, we’re excited to be entering the next phase of PolyBox’s journey,” said Rojin Yarahmadi, co-founder and CEO.
“We’re incredibly grateful to our angel investors and Northstar Ventures for their continued belief in our vision. Their investment has not only supported our growth but has also unlocked the Innovate UK Investor Partnership funding, enabling us to accelerate our roadmap.
“This next phase will focus on delivering even more advanced analytics and AI-powered insights, helping marketing teams make faster, smarter, and more informed decisions through their reporting.”
Tom O’Neill, investment manager at Northstar Ventures, said: “We’re very pleased to complete our latest investment in PolyBox which will help Rojin and the team to significantly grow the business and build on the solid progress made to date.
“As AI continues to significantly disrupt the marketing industry, PolyBox’s automated reporting solution saves time and money for busy marketing teams, whilst also supporting clear, strategic decision making. Congratulations to Rojin, Nick and the wider team.”