VUZ, UAE’s leading immersive social app, that allows users to stream and experience a new level of immersive realism in XR and other digital experiences, has raised $20 million in series B funding led by international investors.
They include Caruso Ventures, Vision Ventures VC Fund, and strategic investors such as e& capital, investment pillar of e&, formerly known as Etisalat Group, Dubai Future District Fund (DFDF), SRMG, and Webit Investment Network (WIN).
Additional Investors that joined the round are Elbert Capital, Yasta Partners, Faith Capital, Panthera Capital, and six of the existing previous investors followed on. With this round, VUZ is now backed by a mix of investors based in the US and EMEA that will play a major role in supporting its international expansion.
Khaled Zaatarah Founder & CEO – VUZ
“Our mission is to build a hyperconnected product to teleport, empower, and entertain millions of users globally. We are very thankful to have some of the strongest international investors as part of our journey to build a global social immersive platform while leading the new technology revolution, accelerating the future of media and trends such as XR (AR and VR) while building strong sustainable growth.”
VUZ, which was known previously as 360VUZ, bridges the gap between the physical and virtual worlds to offer the biggest premium immersive content library in the world with more than 20,000 hours of immersive content covering entertainment, creators, and sports segments, and XR, VR, and AR experiences from virtually anywhere in the world.
VUZ’s vision is bringing people together and connecting the world by providing authentic immersive experiences while removing the constraints of Travel, Time, and Access (TTA) to billions of people around the world.
The funds will be used to fuel VUZ’s expansion plans in growing its core, accelerating the growth of 10 percent growth month over month in its recurring subscription revenue, investing in top content, hiring additional key senior hires, new social features, launching Web3 products, and scaling with asset-light operations into 8 additional new international markets, following its partnership and integration with 45 Telecom Operators globally.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
