Vuz, a Dubai, UAE-based immersive social app provider, raised $20M in Series B funding.
Backers included Caruso Ventures, e& capital, Dubai Future District Fund, Vision Ventures VC Fund, SRMG, WIN, Elbert Capital, Yasta Partners, Faith Capital, and Panthera Capital.
The company intends to use the funds to accelerate the growth in its recurring subscription revenue, invest in content, hire additional key senior hires, new social features, launch Web3 products, NFT projects to own and trade virtual assets derived from the metaverse and scale with operations into 8 additional new international markets.
Founded by Khaled Zaatarah, Vuz is a web3 and Metaverse innovation platform which has reached over 1 billion screen views. The company is building on its current IOS and Android social mobile applications with new features including video immersive live chatting, social in-app gifting, social commerce for creators, creators monetization and gamification plans, XR virtual technology. It is also launching its SDK, scaling on the full ecosystem with META/Oculus and Qualcomm, Immersive Avatars, and is developing its Web Platform that is expected to reach 2Bn Screen Views per year, and its Smart TV platform.
Vuz, which has offices in Dubai, Los Angeles, and Riyadh, counts a team of more than 50 people with specialties in various types of innovation and product development expertise across multiple technology sectors.
FinSMEs
16/10/2022
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