Send us your pictures, video, news and views by texting NORTHERN ECHO to 80360 or email us
Ayo Digital, in Gateshead, has worked with Renault and Team Great Britain
A NORTH-EAST software and web development firm has secured £400,000 funding to continue its growth.
Ayo Digital, based in Gateshead, which works with carmaker Renault and Sunderland-based Gentoo, has received backing from regional investment company, FW Capital, to invest in its headquarters and launch two products this year.
The firm, which employs about 25 North-East workers, says it wants to create up to 40 new posts.
It has worked on a number of high-profile projects, including a web interface to launch Renault's new Clio to the UK market last year and developing timing software for Team GB's BMX squad in the run-up to the London 2012 Olympics.
Kevin Reece, AYO technical director, said: “This investment is a major milestone for our business and signals the start of a very exciting era for our team.
“The first major initiative will be through our applied technologies arm, which specialises in the development and production of advanced technology solutions.
“We have two product launches on the horizon, which we expect will have national and potentially global uptake, which will help put us and the North-East firmly on the technology map.”
The deal was completed by Rob Jones, investment executive at FW Capital.
He said: “AYO is a dynamic technology business with an impressive client list and equally impressive management team.
“We structured the investment to enable AYO to invest in further product development and expand sales operations.”
Comments are closed on this article.