360VUZ, a Dubai, UAE-based immersive video app, raised $5.8M in Series A funding.
Backers included Shorooq Partners (lead investor), KBW Ventures, Media Visions, Vision Ventures, Hala Ventures, 500Startups, Magnus Olsson and Samih Toukan, and Jonathan Labin. The latest round brought the startup’s total amount raised to $7m to date. Previous investors included Al Touq Group, DTEC Ventures, Plug and Play Ventures, Al Rashid family angel investors, Tareq Jalabi and Mohanad Alwadiya.
The company intends to use the funds to further develop its immersive video app technology, scale the business, expand its global reach and offer more personalized experiences along with additional proprietary technologies.
Led by Khaled Zaatarah, Founder and Chief Executive Officer, 360VUZ provides a live stream 360° VR video app, connecting users in more than 15 countries.
The company plans to offer additional proprietary technologies on top of the latest patent that has been fully granted from the United States Patent and Trademark Office related to augmented reality, artificial intelligence, machine learning, virtual control, as well as new advertising solutions.
The company has offices in Dubai, UAE, Los Angeles, California, and Riyadh, Saudi Arabia, where it employs a team of more than 30 people.