VUZ, the leading immersive social app, that allows users to stream and experience a new level of immersive realism in XR and Metaverse digital experiences, raises $20 million in series B funding led by international investors including 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 (Webit Investment Network).
Three significant European funds, including WIN, Elbert Capital, and Yasta Partners, participated in the round as investors. Faith Capital, Panthera Capital, and seven of the existing prior investors all participated in the round as additional investors. With this round, VUZ is now supported by a variety of investors from the US and EMEA who will be crucial in aiding VUZ in its global expansion.
With more than 20,000 hours of immersive content covering entertainment, creative, and sports segments as well as XR, VR, and AR experiences from nearly everywhere in the world, VUZ, formerly known as 360VUZ, bridges the gap between the real world and the virtual one. By offering genuine immersive experiences and reducing the restrictions of (TTA) Travel, Time, and Access for billions of people worldwide, VUZ’s aim is to unite people and link the world.
“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 the Metaverse, and XR (AR and VR) while building strong sustainable growth.”
“Our plans for the future are 10X stronger than what we have been building for the past 6 years. We have built the base and now we are ready for sustainable scalability and growth at a scale-up stage. Special thanks to everyone that believed in us and to every member of our team.”
Khaled Zaatarah, the founder of VUZ.
The funds will be used to support VUZ’s expansion plans for growing its core, accelerating the growth of 10% month over month in its recurring subscription revenue, investing in top content, hiring additional key senior hires, launching Web3 products, NFT projects to own and trade virtual assets derived from the metaverse, and scaling with asset-light operations into 8 additional new international markets, after its partnership and integration with One of the most compelling use cases for 5G, and the future of video streaming, is immersive media, according to the telecom industry. Additionally, funds will help VUZ expand its Los Angeles headquarters and scale with content creators in the USA, Asia, and Europe.
The immersive augmented reality platform VUZ has reached over 1 billion screen views and aims to reach 3 billion screen views by 2023. VUZ brings users and top creators worldwide the Latest immersive technologies, realistic different perspectives and the best immersive experience. The collaboration of rich content creators is a key driver for VUZ, where it prides itself on top creators with a total reach of more than 100 million globally.
VUZ, a global Endeavor Network company, has established a lean and scalable business model that delivers a significant revenue mix, drives value and growth, and has strong plans. to expand its platform. Some of VUZ’s big plans to build on their existing iOS and Android social mobile apps are new features like rich live video chat, in-app social giveaways, social commerce, and more. creator meeting, creator monetization and games, XR virtual technology, launch of its SDK, expansion of the ecosystem complete with META/Oculus and Qualcomm, Immersive Avatar , as well as launching a web platform expected to reach 2 billion screen views per year and a Smart TV platform.
“We are very thrilled for leading the Series B for VUZ, VUZ is uniquely positioned to continue building a global platform and to partner with top telecom operators globally. We will use our deep scale-up experience to support VUZ achieve its global vision.”
Dan Caruso, Managing Director of Caruso Ventures.
“We are excited about investing in a tech company like VUZ that supports the creation of virtual content as well as enables futuristic immersive experiences. This is in line with our commitment to collaborate with visionary tech businesses that we believe will contribute to building a better and brighter digital future. We will continue to invest into the company’s success, partnering with them to help them achieve growth and enable meaningful progress that moves this digital world forward.”
Kushal Shah, Head of Venture Capital, e& capital.
This year VUZ also won as a finalist in the Webit Founders Game, winning over 3,000 large-scale companies worldwide in over 140 countries and selected by a panel of judges. Famous judges like Tim Draper. The Webit Investment Network will help VUZ grow globally through an extensive network of partners and investors.
Team and culture have been key drivers of success at VUZ, where more than 90% of employees benefit from the ESOP stock ownership plan because global success requires a team of owners that can very strong purpose and culture.
In addition to new investors, 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.