– Verofax Limited closed a $3M bridge round led by international investors to enhance its Web3 technology offerings, including Blockchain, AR, and AI.

– The funds will support Verofax’s project pipeline in the Middle East and EU, focusing on AI-powered guides and sports fan engagement.

– Verofax’s solutions are used by major brands like Anheuser Busch Inc and Emirates Airlines, with over $3M in sales to Fortune 100 companies globally.

Verofax Limited, a Web3 services company, has closed a $3M bridge round led by international investors. Utilizing patented Web3 technologies like Blockchain, Augmented Reality, and Artificial Intelligence, Verofax enhances tourist, shopper, and brand experiences, turning destinations, retailers, and sports stadiums into interactive spaces that drive conversion and social engagement.

The funding round attracted investors including Plug & Play Tech Center, Navig8 Group, King Abdullah University for Science and Technology, Trove Capital UK, Jawa Brothers Advisory, Alzamil Pedco CVC, and Tracecore CVC.

With these funds, Verofax will advance its project pipeline in the Middle East and EU, focusing on AI-powered guides in the GCC and sports fan guides in the EU and North America. Verofax’s solutions are already in use across various industries, including retail, tourism, and sports, by leading brands like Anheuser Busch Inc and Emirates Airlines.

Verofax has received multiple awards for its AI applications in tourism and retail and has generated over $3M in sales for Fortune 100 companies across 50 global markets.

Wassim Merheby, CEO of Verofax, said, “Our solution helps Tourists elevate their experiences, unlock personalized discounts and Offer gamified ‘Explore to win’ sponsored games in Augmented reality. This allows enterprises and brands to sponsor and elevate their marketing efficiency, power direct-to-consumer communication and deliver amazing experiences to drive growth and boost loyalty.

“We are thrilled to be joined by strategic investors that will help us accelerate our AI guide solution and AR gamified experiences and grow through their collective network and with their advice.”

Abdullah Alakeel, Country Director of Plug & Play Saudi, said: “Our recent investment in Verofax demonstrates our unwavering commitment to supporting the most promising startups within the Kingdom and the broader region.

“As one of the world’s most active and successful early-stage tech investors, we are fully dedicated to nurturing the Kingdom’s entrepreneurial ecosystem. We are thrilled to witness the transformative impact that Verofax will continue to make within the Tourism industry.”

Ian Campbell, Vice President of the National Transformation Institute (NTI), said, “KAUST is mandated to accelerate the digital economy in the Kingdom as part of the University’s forward vision, leveraging KAUST science and innovation to make an impact beyond the walls of the campus itself and to create collaborations and identify opportunities where KAUST can contribute by convening minds and resources together to deliver solutions to benefit the wider Kingdom and beyond.

“The application of AI in tourism, customer service and beyond are applications that fall within our investment mandate.”

Jamal Jawa, Managing Partner of Brothers Advisory, said, “Our investment thesis is to support growth startups that leverage the latest technologies such as AI / AR and Web3, setting new service categories. We have been incredibly impressed by Wassim and the whole Verofax team and are thrilled to be making this our first investment in a Pre-Series A startup in the GCC region”.