Bubo.AI raises £650K in growth funding with NPIF – Mercia Equity Finance among backers
Price optimisation platform Bubo.AI, which is based in Middlesborough, has raised £650,000 in growth funding.
Backers for the funding include NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, and private investors.
The funds will be used to allow the company to continue to expand its operations and its reach across Europe and North America.
Bubo.AI was launched in 2019 and was co-founded by entrepreneur Alan Timothy and Polish data analyst Marcin Lisowski. The team also includes AI expert Professor Huseyin Seker of Staffordshire University, and ex-Microsoft marketing veteran David Shell.
The platform uses AI to analyse customers’ behaviour so it can understand what they are willing to pay. It then recommends the optimum price to sales staff.