Sunday, May 19, 2024

London firm moves to Sheffield to benefit from South Yorkshire’s advantages

Data technology start-up TUBR has moved from London to Sheffield and is set for growth with investment from Finance Yorkshire.

The company has now raised a total of £473,000 following a second funding round of £220,000 including £100,000 from Finance Yorkshire’s Seedcorn Fund alongside existing and other new investors.

Founded by entrepreneur Dash Tabor, the company provides a machine learning platform which enables businesses to turn data into informed actions quickly. The technology can be used across many sectors where it can predict likely future events, for example in retail, forecasting customer demand patterns as an aid to stock and staff planning or in environmental control, predicting pollution patterns from data collected through sensors.

Based at Sheffield Technology Parks, TUBR has attracted considerable interest with a previous funding round in 2022 which included US based venture fund BlueWing VC.

Dash’s career has been spent in technology data product management, monetising data solutions. She said: “I started building the TUBR technology understanding that companies would need machine learning and AI to compete post pandemic. The solution can be used to predict demand and improve operations.

“The investment from Finance Yorkshire and other investors will help us advance the technology and the speed of implementing it so we can start growing our customer base.”

Dash has relocated the TUBR business to Sheffield Technology Parks from London. “I was attracted to South Yorkshire because of the support available to start-ups and that I can tap into the ecosystem at the technology park and gain knowledge from its network to help build the business.”

Finance Yorkshire chief executive Alex McWhirter said: “Our seedcorn fund is perfect for supporting start-ups to scale up just like TUBR. Data technology is progressing at considerable pace and Dash’s vision and ambition for her solution is to be applauded. We are pleased to support the company and Dash’s entrepreneurialism.”

Finance Yorkshire’s seedcorn fund is part of a wider regional business fund which is expected to provide more than £50m to SMEs over five years. Investment is also available from its growth and business loans funds.

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