Teesside tech firm Bubo.AI is hoping to expand its reach into Europe, South America and the Asia Pacific region.
The firm – which has invested heavily in marketing and sales over the past few months – is putting plans in place to extend its reach in 2021 which includes advanced talks to secure new work across the globe.
The expansion plans come after a number of accolades for the firm, which was named a regional finalist in last year’s Tech Nation Rising Stars 3.0 competition. The company was also recognised as one of he top start-ups by the Vienna Business Agency, where it has an office and won the award for best emerging technology in AI in Computing’s AI & Machine Learning Awards 2020.
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Bubo.AI chief executive and co-founder Alan Timothy said: “We are in active conversations with companies across a number of countries and regions, such as Columbia in South America, and across South East Asia, following our speaking at Singapore’s Week of Innovation and Technology, in December 2020.
“There are tens of thousands of companies across the world with problems that our solutions can solve, and we aim to speak with as many of them as possible.”
The startup is also exploring opportunities in North America, working with the Creative Destruction Lab (CDL) at Tech Scheller College of Business in Atlanta, Georgia, to support its future growth in the US.
CDL-Atlanta supports the commercialisation of ventures innovating in commerce, logistics, engineering, public health, finance, consumer health and transportation.
Several national and international companies have already signed up for a trial of Bubo.AI’s software, including Tarmac.
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Bubo.AI, which employs six full-time equivalent staff members but is looking to expand its headcount as it picks up more clients, uses the power of artificial intelligence to help clients optimise prices and increase profit.
With a head office in Middlesbrough and offices in London, Vienna and Gothenburg, Bubo.AI is committed to delivering profitable growth and says that it typically achieves a 3% increase in net margin for its customers.