Abu Dhabi, Aug 27: Verofax Limited, a Web3 services company, has secured $3 million in bridge funding to enhance its AI and AR offerings, particularly for the tourism and sports sectors.
The funding round was led by prominent investors, including Plug & Play Tech Center, Navig8 Group, and King Abdullah University for Science and Technology.
Verofax specializes in applying advanced Web3 technologies, such as Blockchain, Augmented Reality, and Artificial Intelligence, to create interactive and engaging experiences for tourists, shoppers, and sports fans.
The company aims to drive consumer engagement and brand marketing by turning traditional experiences into interactive ones.
The funds will be directed toward Verofax’s ongoing projects in the Middle East and the European Union, with a focus on AI-powered tourist guides in the GCC and sports fan guides in Europe and North America.
Verofax’s technology is already in use by major brands, including Emirates Airlines and Anheuser Busch Inc.
The company, a Microsoft Native partner, has established a global network of distributors and resellers, offering solutions through platforms like Microsoft Azure Marketplace and Amazon AWS.
CEO Wassim Merheby highlighted that the funding would accelerate the company’s ability to deliver personalized, gamified experiences that enhance marketing efficiency and consumer loyalty.
Investors from the round expressed their support, emphasizing the potential impact of Verofax’s technology on the tourism industry and their commitment to nurturing innovation within the region.
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