VUZ, an immersive social app that allows users to stream and experience immersive eXtended Reality (XR), raises $20 million in a Series B funding round led by Caruso Ventures, Vision Ventures VC Fund, and strategic investors such as e& capital, Dubai Future District Fund (DFDF), SRMG, and Webit Investment Network (WIN).
Investors in the round included three strategic funds from Europe including WIN, Elbert Capital, and Yasta Partners. Additional Investors that joined the Series B round are Faith Capital, and Panthera Capital, and seven of the existing previous investors followed on.
“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,” Khaled Zaatarah, the founder of VUZ, stated.
The funds will be used to fuel VUZ’s expansion plans to accelerate its growth, invest in top content, hire additional key senior talents, launch new social features and Web3 products, and scale with asset-light operations into 8 additional new international markets, following its partnership and integration with 45 telecom operators globally.
Funds will also support the startup to further scale its Los Angeles office and scale with creators and content in the USA, Asia, and Europe.
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