VUZ gets $12M for its immersive video experiences across emerging markets and the U.S.

Summary

VUZ, a startup known for offering immersive video experiences from red carpets and football stadiums, has raised $12 million as it doubles down on its presence in Saudi Arabia and the United Arab Emirates, as well as accelerates expansion into Africa, Asia, and the United States. The pre-Series C funding round, led by the International Finance Corporation (IFC), also drew participation from Al Jazira Capital, CrossWork VC’s Success Fund, multiple existing investors, and several high-profile Saudi family offices, the company said. IFC’s investment is particularly notable. The World Bank Group member, known more for investing in financial infrastructure and logistics across emerging markets, is making a rare bet on consumer tech and specifically, the so-called “immersive internet.” “They are focused on emerging markets and saw us as a company that’s focusing on scaling globally and also into those markets. Our work in the creators and the content space got them very excited and based on our progress and growth, there’s so much potential to build upon that,” founder and CEO Khaled Zaatarah said in an interview with TechCrunch. VUZ, formerly 360VUZ, isn’t just competing locally; it’s up against global giants like YouTube, TikTok, Twitch, and Instagram, platforms that already dominate with massive user bases and strong creator loyalty. But VUZ believes it has a differentiated offering: immersive, 360-degree content that puts users “inside the experience,” whether that’s the Grammys in L.A., a La Liga match in Spain, or a fashion show in Dubai. Users can consume content through mobile apps, the web, VR headsets like Apple Vision Pro and Oculus, as well as smart TVs. The company, which raised a $20 million Series B in 2022, has signed exclusive immersive streaming deals with La Liga and the Professional Fighters League (PFL), and is working with over 100 content creators whose combined audience reach tops 100 million. Streaming goes local, but still global VUZ’s expansion ...