ⓘ Featured Image: Khaled Zaatarah; Founder & CEO of 360VUZ founder
Dubai-based 360VUZ, an immersive video mobile app has reportedly raised funding in a bridge round in which Knollwood Investment Advisory, Impact46, AlFalaj Investment, and Dubai Angel Investors (DAI) participated.
The fresh funds will help the company to further develop its immersive video app proprietary technology and innovative features, expand its global reach, and offer more personalised experiences to build a hyper-connected world.
Founded in early 2017 by Khaled Zaatarah, 360VUZ is a mobile app that give people access to various happenings around the world using its 360º Live Technology. The company has its users across 25 countries.
Speaking of the development, Chris Rogers, a mobile industry expert and a board member at 360VUZ, said,
“360VUZ is uniquely positioned to build a global success story. The company has already demonstrated success in building an innovative product that is capable of being highly scalable to different geographies globally.”
Khaled Zaatarah, Founder & CEO of 360VUZ, stated,
“Giving users an unparalleled social immersive experience while building a highly scalable and lucrative business is our focus. We are as well very thrilled that we had the strongest and most profitable quarter to date. Our aim is to elevate our innovative technologies and features to continue in removing the constraints of people. We believe that now more than ever our mission is vital to help people and businesses from all around the world by removing barriers of TTA (Travel, Time and Access) using our immersive platform and technologies.”
Abdulaziz Alomran, Founding Partner at Impact46, added,
“With the rise of the entertainment sector in Saudi Arabia, 360VUZ is in a great position to capitalize on this opportunity with its innovative technology and offer a full virtual experience. We’re excited to share the journey with the 360VUZ team, and admire their desire and determination to explore various areas of partnership with both local and international enterprises and introducing a product to serve a global scale.”
In April, 360VUZ raised $5.8 million in Series A round led by Shorooq Partners, with participation from KBW Ventures, Media Visions, Vision Ventures, Hala Ventures, 500 Startups; and also some strategic investors including the founder and managing director of Careem, Magnus Olsson, Samih Toukan, and Jonathan Labin.
In Q3 2020, 360VUZ signed agreements with over 25 new Telcos from around the world covering markets such as the UK, Spain, Malaysia, Indonesia, Kuwait, Turkey, Morocco, Algeria, and South Africa. The new agreements were set to ease out the subscription for 360VUZ users around the globe and enhance their immersive experience.