Verofax, an Abu Dhabi, UAE-based Web3 services company, raised $3M in Bridge funding.
The round was led by Plug & Play Tech Center, Navig8 Group, King Abdullah University for Science and Technology, with participation from Trove Capital UK, Jawa Brothers Advisory, Alzamil Pedco CVC and Tracecore CVC.
The company intends to use the funds to execute its pipeline of projects in the Middle East and EU, notably AI-powered guides in GCC and Sports fan guides in the EU and North America.
Led by CEO Wassim Merheby, Verofax applies patented Web3 technologies such as Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Elevated tourist, shopper and brand marketing experiences’, enabling destinations, retailers and sports stadiums to turn their experiences interactive and drive conversion and social virality. Brands can reach customers directly, thereby increasing consumer intimacy with direct engagement and leveraging gamification for results from AI & AR experiences.
Verofax solutions apply to various industries (Retail, Tourism and Sports) and are already used by leading brands such as Anheuser Busch Inc and Emirates Airlines.
FinSMEs
27/08/2024