- New international investment participation from Knollwood, Impact46, AlFalaj Investment and DAI
- 360VUZ partners with over 25 new Telcos in Q3 2020
DUBAI, UAE, Dec. 15, 2020 /PRNewswire/ -- 360VUZ, the immersive video mobile app attracts top international investors and confirms that it secured an additional round of investment to gear up for a strong Series B round. This investment brings the startup's total amount raised to $8.4 million.
The round had new investors participation from Knollwood Investment Advisory, Impact46, AlFalaj Investment and DAI. 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.
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."
"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 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." said Khaled Zaatarah, founder and Chief Executive Officer, 360VUZ.
360VUZ has been releasing major innovative features on monthly basis such as the Celebrity Voice Chat Feature and VIP Chat Feature in line with the vision to give users an unmatched experience to connect users, fans and celebrities together and revolutionizing the immersive social experience by building on the Entertainment value curve and making the platform not just a viewing experience but an immersive social experience.
In Q3 2020 alone, 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. Telecoms are seeing that immersive media and 5G are the future of video broadcasting. Immersive media such as VR, AR and XR will disrupt the market and will change leadership in telecommunications. 5G is enhancing the user experience of the new media industry.
"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." Added Abdulaziz Alomran, Founding Partner at Impact46.
The new investment is gearing the startup for a strong Series B investment round and positioning 360VUZ as one of the most well capitalized startups in the media and entertainment space.
In addition to Knollwood, Impact46, and DAI investment participation, 360VUZ is backed by investors such as Shorooq Partners, KBW Ventures, Media Visions, AlTouq Group, Vision Ventures, Hala Ventures, 500Startups, Magnus Olsson, Samih Toukan, Jonathan Labin, DTEC Ventures, Plug and Play Ventures, Al Rashid family and other strategic angel investors.
Founded in 2017, The 360VUZ Teleporter mobile 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.
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360VUZ was founded in 2017 by entrepreneur Khaled Zaatarah. 360VUZ has offices in Dubai, UAE, Los Angeles, California, and Riyadh, Saudi Arabia, counts a team of more than 30 people with specialties in various types of innovation and product development expertise across multiple technology sectors.