VUZ, the leading immersive social app that enables users to stream and experience a new level of immersive realism in XR and Metaverse digital experiences, has raised USD 20 million in series B funding led by international investors such as Caruso Ventures, Vision Ventures VC Fund, and strategic investors such as e& capital, investment pillar of e& (formerly known as Etisalat Group), DFDF (Dubai Future District Fund), SRMG, and WIN (Website Investment Network).
Three European strategic funds participated in the round, including WIN, Elbert Capital, and Yasta Partners. Faith Capital, Panthera Capital, and seven earlier investors also participated in the round. VUZ is currently supported by a diverse group of investors from the United States and Europe, who will play an essential role in assisting the company’s international growth.
VUZ, formerly 360VUZ, bridges the physical and virtual worlds to provide the world’s most significant premium immersive content library, with over 20,000 hours of immersive content covering entertainment, creators, sports segments, and XR VR AR experiences from virtually anywhere in the world. VUZ’s aim is to bring people together and link the globe by giving actual immersive experiences while reducing (TTA) Travel, Time, and Access barriers for billions of people worldwide.
VUZ creator Khaled Zaatarah stated:
“Our objective is to produce a hyperconnected device to transport, empower, and entertain millions of consumers globally.” We are grateful to have some of the world’s most influential international investors join us on our journey to build a global social immersive platform while leading the new technology revolution, accelerating the future of media and trends like the Metaverse and XR (AR and VR), and building robust and sustainable growth.
More about the company:
Following its partnership and integration with VUZ, the funds will be used to fuel VUZ’s expansion plans in growing its core, accelerating the growth of 10% month over month in its recurring subscription revenue, investing in top content, hiring additional critical senior hires, new social features, launching Web3 products, NFT projects to own and trade virtual assets derived from the metaverse, and scaling with asset-light operations into eight additional new international markets.
Immersive media is one of the most significant use cases for 5G, and it represents the future of video streaming, according to telecoms. The funds will also help VUZ expand its Los Angeles office and work with producers and content in the United States, Asia, and Europe.
The team and culture have been key drivers in VUZ’s success, with more than 90% of workers on an ESOP shared equity plan, since a worldwide success story requires a team of owners focused on one purpose and a robust culture.
360VUZ is backed by investors such as Knollwood Investment Advisory, AlTouq Group, Impact46, Shorooq Partners, KBW Ventures, Media Visions, Hala Ventures, 500Startups, DAI, Al Falaj, Magnus Olsson, Samih Toukan, Jonathan Labin, DTEC Ventures, Plug and Play Ventures, Al Rashid family, and other strategic angel investors, in addition to the new investors.
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, DFDF (Dubai Future District Fund), SRMG, and WIN (Website Investment Network).){kind=link}