360VUZ secures funds from new investors to gear up for Series B round
360VUZ, the immersive video mobile app, has raised new funds from Knollwood Investment Advisory, Impact46, AlFalaj Investment, and DAI. The additional funds will help the startup to gear up for their Series B round.
360VUZ is a mobile app that teleports people in time to top happenings around the world using the latest 360º Live Technology to enable Teleportation using Teleporters. Founded in 2017, the app has established a strong global rollout, connecting users in more than 25 countries with a significant increase in user engagement and revenues month over month.
Chris Rogers, 360VUZ Board Member and mobile industry expert 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 and CEO of 360VUZ commented, "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.”
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360VUZ has been releasing innovative features on a monthly basis such as the Celebrity Voice Chat Feature and VIP Chat Feature in line with the vision to give an unmatched experience to connect users, fans, and celebrities together and revolutionizing the immersive social experience.
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. 360VUZ believe that Telecoms are seeing immersive media and 5G as the future of video broadcasting. Immersive media such as VR, AR and XR will disrupt the market and will change leadership in telecommunications.
The new funding will be used to advance the development of the immersive video app proprietary technology and innovative features, expand its global reach, and offer more personalized experiences to build a hyper-connected world. This investment brings the startup’s total amount raised to $8.4M.
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