VUZ secures $12 million from IFC to fuel global immersive media expansion
Founded in 2017 by Khaled Zaatarah, VUZ is a next-generation media platform offering immersive live content across XR, VR, AR, and AI-powered streaming.
The funding will accelerate VUZ's global expansion across Saudi Arabia, the UAE, Africa, Asia, and the US, and further develop its AI-driven streaming technologies and live spatial experiences.
In October 2022, VUZ closed its Series B round at $20 million from Caruso Ventures, Vision VC Fund, e& Capital, and others.
Press release:
VUZ, the world's leading immersive media company, has secured the International Finance Corporation (IFC), a member of the World Bank Group, to invest in its $12M Pre-Series C funding round. This strategic investment positions VUZ for accelerated global growth in immersive live streaming and content, AI-driven streaming technologies, and live spatial experiences, building on the next generation of media, the creator economy, sports, and entertainment.
The IFC and the World Bank Group collectively manage over $1 trillion in global assets and investment commitments, operating in more than 100 countries. In fiscal year 2024, IFC committed a record of over $56 billion to private companies and financial institutions to drive sustainable development through the private sector.
This round also includes participation from Al Jazira Capital, Crosswork VC Success fund (a pre-IPO venture capital fund), multiple existing investors, and several high-profile Saudi family offices, bolstering VUZ's presence in key markets across the world.
IFC's Strategic Role in Telecom and Media Expansion
The investment marks a pivotal collaboration between VUZ and IFC, which is known for its selective backing of global winners, including Souq.com (acquired by Amazon). With over 100 investments in telecom and communications companies across Africa, Asia, and Latin America, IFC brings unmatched expertise in market entry and infrastructure scaling across frontier economies.
Through this partnership, VUZ will scale further in Saudi Arabia and the UAE and accelerate expansion, particularly in Africa, the USA, and Asia, where demand for immersive experiences and next-generation media is rising rapidly. The move aligns with IFC's mission to advance digital inclusion and economic growth through media innovation and connectivity.
A Profitable, Scalable Media Powerhouse
In 2024, VUZ achieved EBITDA profitability, with 80% year-over-year gross profit growth, a significant milestone for a tech streaming scale-up. The company's platform — home to 30,000+ hours of premium immersive exclusive content — blends XR, VR, AR, and AI-powered media across sports, entertainment, and creator ecosystems. VUZ has a pipeline of partnerships with some of the largest football clubs, giga projects, and global athletes, as well as A-list artists, creators, and ambassadors.
'We are honoured to welcome IFC as a strategic investor,' said Khaled Zaatarah, founder of VUZ. With IFC and the World Bank Group's track record in scaling telecom and digital media companies globally and over $1 trillion in assets under management, this partnership sets the stage for massive global scale. Together, we'll bring immersive media to the world's fastest-growing markets.'
Key highlights:
3 billion+ screen views to date; targeting over 5 billion by 2026
Exclusive immersive content partnerships with LaLiga, Serie A, PFL, and more
The largest exclusively owned immersive premium content library of over 30,000 hours
Over 40 global telecom integrations, with 20+ in progress
Strategic launches across TV Devices, Apple Vision Pro, Oculus, and VUZGo, a new web-embedded immersive tech layer
4 global patents powering proprietary streaming technologies
'This investment reflects IFC's commitment to creative industries as a driver of jobs and income in emerging markets. VUZ's tech edge and global reach align well with our mandate to support scalable platforms that empower creators', said Farid Fezoua, IFC Global Director for Disruptive Technologies, Services, and Funds.
A Magnet for Global Creators and Partners
VUZ empowers a creator network with a combined global reach exceeding 100 million, offering monetisation tools, immersive production capabilities, and a deeply engaging fan experience. Its technology now sits at the centre of conversations with device manufacturers, sports federations, and media conglomerates seeking to deliver content that transcends physical limitations.
'This is the scale-up stage we've been building toward for years,' Zaatarah added. 'With a solid foundation, patented tech, and profitability achieved, we are ready to scale globally and define the future of media.'
World-Class Investor Backing
In addition to the International Finance Corporation (IFC), a member of the World Bank Group, and other recent strategic investors, VUZ is backed by a distinguished and globally diverse group of institutional partners. These include e& capital, KBW Ventures, Al Jazira Capital, DFDF, SRMG Ventures, Caruso Ventures, Shorooq Partners, Plug and Play Ventures, Hala Ventures, Vision Fund, Knollwood Investment Advisory, Panthera Capital, Faith Capital, WIN, Elbert Capital, Yasta Partners, AlTouq Group, Impact46, Media Visions, 500 Startups, DAI, Al Falaj, and DTEC Ventures (Oraseya Capital), along with notable tech leaders including Magnus Olsson, Samih Toukan, and Jonathan Labin — reflecting strong international conviction in VUZ's vision, performance, and global growth potential.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Ammon
8 hours ago
- Ammon
Universities without AI: Preparing graduates for yesterday, not tomorrow
In an era where artificial intelligence is reshaping not only professions but the very nature of work itself, universities that fail to embed AI across all disciplines risk preparing graduates for a world that no longer exists. This is not a distant scenario; AI is already transforming fields well beyond computer science, from medicine and engineering to law, education, and the arts. Institutions that continue to rely on outdated curricula are rapidly losing relevance in the eyes of both students and employers. Reports such as the World Economic Forum's Future of Jobs Report 2023 confirm that nearly half of the skills demanded in the labor market will shift within the next five years due to advances in AI and automation. Similarly, data from McKinsey's 2023 annual AI survey underscores that AI is no longer optional but integral across diverse industries including healthcare, finance, and manufacturing, emphasizing the urgency for higher education to integrate AI as a foundational element across its programs. The urgency of integrating AI into all areas of study has been emphasized by leading educators and economists alike. Economists have called for dedicating up to one-third of college curricula to teaching students not only how to use AI, but critically how AI operates, its limitations, and how to collaborate with it effectively. Across the United States, prestigious universities including Barnard, Columbia, NYU, and MIT are actively embedding AI literacy and access into their campuses, offering students early exposure to tools and forging pathways into AI leadership. Beyond elite institutions, broader educational leaders urge a complete strategic overhaul. A recent Forbes contribution makes it clear that the real question for academia is not whether AI will impact higher education, but how institutions will respond. It calls for mandatory AI literacy across majors, curriculum redesign, ethical governance, and industry partnerships to truly prepare students for the AI-driven workplace. The warning is explicit: those who delay this digital transformation risk being left behind in an increasingly competitive and technologically demanding world. The risks of ignoring AI extend beyond future employability. Institutions that do not integrate AI see lower student engagement, diminished retention, and rising operational inefficiencies. In contrast, universities that deploy AI tools adaptive learning systems, predictive analytics, and AI-powered support report improved outcomes. One case study cited a reduction in dropout rates and increased academic success tied to AI adoption. With global EdTech investments projected into the hundreds of billions, universities that lag now jeopardize both their students' futures and their own viability. Some institutions are leading by example. The University of Florida has taken a bold step by requiring all students to complete foundational AI courses plus ethical AI instruction, regardless of major, thereby fostering AI literacy across disciplines. Similarly, Clemson and Georgia Tech are creating ethical, practical, and collaborative AI models on campus that educate students on both the potential and caveats of AI-enabled innovation. Universities that avoid integrating AI risk more than becoming outdated; they risk producing graduates unprepared for a world where AI is the default, not the exception. On the other hand, institutions that embrace AI responsibly and ethically position themselves, and their students, at the forefront of innovation. The choice is simple: educate for yesterday, or equip for tomorrow.
Al Bawaba
10 hours ago
- Al Bawaba
AW Rostamani Group & Chery UAE Allocate AED 225,000 to Cover School Tuitions
Chery UAE, through its official sole distributor AW Rostamani, has launched its Back-to-School campaign, reinforcing its commitment to supporting families with more than just high-quality from August 15th to October 31st, 2025, the campaign will award 9 lucky winners among Chery car buyers an AED 25,000 prize each that will go toward their children's school tuitions through raffle draws held by Chery UAE. A total of nine draws will take place over the three-month Sabbagh, Director of Chery UAE, AW Rostamani Group, emphasized the brand's deeper commitment to its customers: 'At Chery UAE, AW Rostamani Group, we believe innovation should serve people's lives. Our back-to-school campaign reflects our dedication to putting families first, supporting education, and making a positive impact where it matters most. In addition to reliable and intelligent vehicles, we're proud to offer peace of mind, convenience, and life-changing value. This is the Chery way of standing with its customers, on and off the road.' Complementing its back-to-school campaign benefits, Chery UAE, through its official sole distributor AW Rostamani, is also offering 0.99% interest rate for two years, up to 6 years warranty, 2 years of complimentary service, and 1 year of free insurance, in addition to roadside assistance. This package combines innovative automotive offerings with financial facilities and life-enhancing incentives, reinforcing Chery UAE's role as a trusted partner in every family's journey.
Al Bawaba
11 hours ago
- Al Bawaba
Kuwait's Status as an 'AI Practitioner' Presents Opportunities in Building a Future-Ready Ecosystem: BCG Study
Kuwait has been recognized as an 'AI Practitioner' in a recent study by Boston Consulting Group (BCG). This positions the country among 30 forward-looking economies actively integrating AI across key sectors, according to the report titled "GCC AI Pulse: Mapping the Region's Readiness for an AI-Driven Future" by BCG. The report, based on BCG's 2025 AI Maturity Matrix, revealed that Kuwait has earned the designation of AI Practitioner alongside 30 economies worldwide, including Qatar, Bahrain, and Oman. The maturity matrix identified four economic archetypes based on their AI readiness, ranging from AI Emergents at the lower end of the scale, followed by Practitioners, then Contenders, and Pioneers at the high end. With GCC countries yet to achieve AI Pioneer status, which includes the likes of the US, UK, and China, the report highlights substantial opportunities for advancing AI readiness and leadership in the region. Dmitry Garanin, Managing Director and Partner, BCG, said: "Kuwait's commitment to integrating AI across pivotal sectors showcases a visionary stride towards digital transformation. The National AI Strategy underlines a significant ambition that, if supported by a concerted effort in skilling, policy innovation, and targeted investment, can transform Kuwait into a regional AI powerhouse. The challenge now is to evolve from strategy to execution, ensuring that initiatives like the AI Center of Excellence and enhanced data governance frameworks lead to tangible outcomes. Bridging the current gaps in investment and research is crucial for Kuwait, not just to catch up, but to lead." Building a Competitive Edge in the Digital Era The Kuwait National Strategy for Artificial Intelligence, developed by the Central Agency for Information Technology (CAIT), outlines a comprehensive framework to responsibly harness AI for national development to help advance Kuwait's AI goals under Kuwait's Vision 2035. It emphasizes building a robust digital infrastructure, fostering AI talent, and ensuring ethical governance. The strategy aims to enhance public services, boost economic diversification, and position Kuwait as a regional leader in AI innovation. It also includes recommendations for policy, education, and collaboration with international partners to ensure sustainable and inclusive AI adoption across sectors. Efforts to build AI capabilities include the National Skilling Program, which focuses on training government employees, though expanded initiatives are needed to cultivate a robust AI workforce. On policy and regulation, Kuwait is developing an AI governance framework to ensure ethical and responsible AI implementation. While there exists a $7 billion public fund for SMEs, it does not specifically allocate resources to AI, revealing the necessity of targeted financial investment. To accelerate research and innovation, Kuwait plans to establish an AI Center of Excellence that fosters AI studies and collaboration between academia and industry, though additional measures are required to scale innovation. In terms of infrastructure, the country is enhancing its cloud and AI ecosystem, with Microsoft and Google Cloud spearheading efforts to build AI-powered data centers. However, Kuwait's progress across various AI dimensions remains uneven, as illustrated by key metrics: ambition scores the highest at 5, while investments and research lag at 0.67 and 0.33, respectively. To improve AI readiness, Kuwait needs to strengthen data governance, increase investments in startups, and intensify workforce development initiatives. "Kuwait's emergence as an AI Practitioner is a critical first step in the broader journey towards becoming a leader in the AI domain. The stark contrast between its ambitious goals and the current state of skills, investment, and innovation underscores a pivotal moment for policy and decision-makers. By doubling down on developing a deep talent pool, fostering a vibrant AI startup ecosystem, and ensuring responsible AI deployment, Kuwait has the potential to set a benchmark for AI integration not only regionally but globally. The foundation is set; now is the time for bold, decisive action to leverage AI for sustainable growth," said Dr. Lars Littig, Managing Director and Partner at BCG. Approaches to Foster AI Maturity in the Gulf BCG's GCC AI Pulse report supports the strategic advancement of national visions aimed at enhancing countries' global competitiveness. The expansion of the AI talent pipeline through dedicated upskilling programs and the acquisition of global talent will broaden the existing talent pool and infuse the regional market with international expertise and perspectives, critical for innovative leaps in AI. In addition, governance structures must be realigned to better adhere to evolving AI ethics frameworks and international standards, ensuring responsible and sustainable AI development. Advancements in policies will solidify Kuwait's reputation as a leader in ethical AI practices, a benchmark against which global counterparts are measured. Moreover, there is significant room for intensifying research and development investments to foster stronger academia-industry collaborations. This will spur innovation and cement Kuwait's position as a hub for cutting-edge technological advancements, matching and potentially surpassing global AI leaders such as the US, China, Singapore, the UK, and Canada in certain areas.
