December 15, 2022
The stage of Webit’s Founders Games has seen startups as diverse and evolving in industries as in solutions. On the quest to find the fastest growing scaleups generating societal and environmental change, we are endorsing and awarding up to $6M to impact companies building the desirable world of tomorrow. Through a bi-annual scaleup challenge gathering 4000+ applicants, the platform brings together the best founders, the world's top investors, corporate leaders and media to identify and support resilient innovations and impact entrepreneurs globally.
Here is part #1 of our recognition shout out to the achievements of the Founders Games finalists 🤘:
VUZ (formerly 360VUZ) is dubbed as the "YouTube of the Metaverse"
VUZ received a $900’000 funding award. The leading immersive social app allows users to stream and experience a new level of immersive realism in XR and Metaverse digital experiences. The investment is part of the company’s $20M Series B round led by international investors including Caruso Ventures, Vision VC Fund, and strategic investors such as e& capital, investment pillar of e& (formerly known as Etisalat Group), DFDF (Dubai Future District Fund), SRMG, and WIN (Webit Investment Network, the financing arm of the Founders Games).
Founded in 2017 in Dubai, the immersive social video application has built the largest library of 360 degree video content in the world. The web3 platform offers more than 20,000 hours of content covering entertainment, live events, concerts, interviews, masterclasses, creators, sports and XR, VR and AR experiences virtually anywhere in the world. It has reached over 1 billion screen views from more than 10 million users since launch. The VUZ users can access and engage with different content through 360-degree live streams on its iOS and Android apps. About 70% of the content is free and VUZ monetizes it with ads shown to users in this category and a $4-8 monthly fee for its exclusive content.
The raised funds will be used to fuel its growth plans such as improving its 10% month-on-month recurring revenue growth, investing in content and new social features, hiring additional senior hires, launching web3 products and NFT projects and scaling with asset-light operations into eight new international markets. The investment will also support the scale of its newly opened Los Angeles office and engage with creators and content in Europe, Asia and the US.
Watch Vuz Pitch from Webit Global Impact Week 2022
Want to be among these success stories? Applications for the Summer Season of the Founders Games are now open. Nominate a company and apply now for the June 2023 edition.