Vuz secures IFC investment in $12m pre-series C round
IFC investment supports VUZ's international expansion, following precedent in scaling telecom and media ventures across the world.
Vuz, the immersive media platform, has announced a strategic investment from the International Finance Corporation (IFC), a member of the World Bank Group, as part of its $12m Pre-Series C funding round. This marks a significant milestone for Vuz as it accelerates its global push in immersive live streaming, AI-powered content delivery, and spatial media experiences spanning sports, entertainment, and the creator economy.
With more than $1tn in global assets and commitments, the IFC joins a lineup of key investors including Al Jazira Capital, Crosswork VC Success Fund, several existing backers, and major Saudi family offices. This round strengthens Vuz's global footprint and positions the company to scale in fast-growing markets such as Saudi Arabia, the UAE, Africa, Asia, and the United States.
The partnership with IFC—known for backing transformative companies like Souq.com—brings deep market expertise and a global track record in telecom and digital media, particularly across emerging economies. It aligns with IFC's goal of advancing digital inclusion and supporting creative industries that drive sustainable economic development.
Vuz, which achieved EBITDA profitability in 2024 and recorded 80% year-over-year gross profit growth, now hosts over 30,000 hours of immersive content that blends extended reality (XR), virtual reality (VR), augmented reality (AR), and AI-powered streaming. The platform features exclusive experiences with top-tier football clubs, sports leagues, global athletes, artists, and creators. It boasts more than 3bn screen views to date, with a target of surpassing 5bn by 2026.
With 40 telecom integrations globally and 20 more underway, VUZ continues to expand its tech ecosystem through platforms like Apple Vision Pro, Oculus, TV devices, and its proprietary web-based immersive layer, VuzGo. Its innovations are protected by four global patents.
Khaled Zaatarah, Founder of Vuz, added: 'We are honored to welcome IFC as a strategic investor. With IFC and the World Bank Group's track record in scaling telecom and digital media companies globally, and over $1tn 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.'
'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', added Farid Fezoua, IFC Global Director for Disruptive Technologies, Services, and Funds.
Vuz's creator network spans over 100 m people worldwide, with tools that support monetization, immersive storytelling, and fan engagement. With a strong investor base that includes e& capital, KBW Ventures, SRMG Ventures, Vision Fund, and other global institutional backers, Vuz is now pset to shape the future of immersive media at a global scale.
'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.'
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
9 hours ago
- Zawya
GE Vernova's H-Class gas turbines to expand Qurayyah power plant
GE Vernova has announced it has secured an order for five 7H-Class gas turbines - three 7HA.03 and two 7HA.02 units – from Técnicas Reunidas and Orascom Construction (TR & Orascom Construction). The two companies have signed, under a 50-50 joint venture, the engineering, procurement and construction (EPC) contract for Qurayyah Independent Power Plant (IPP) Expansion Project in the Eastern Province in Saudi Arabia. This expansion project, a 3 gigawatt (GW) combined cycle gas-fired power plant with readiness to build a carbon capture unit, aims to bolster electricity production capacity and enhance operational efficiency in Saudi Arabia. Expanding Saudi Arabia's fleet of combined cycle power plants plays a crucial role in Saudi Arabia's plan to generate half of its electricity from gas by 2030 and half from renewables, paving the way to net-zero greenhouse gas (GHG) emissions by 2060, a statement said. Hajr Two Electricity Co, a company owned by ACWA Power, the Saudi Electricity Company (SEC), and Haji Abdullah Alireza & Co signed a Power Purchase Agreement (PPA) for the Qurayyah Independent Power Plant (IPP) Expansion Project with the Saudi Power Procurement Company (SPPC – Principal Buyer) in February 2025. Hajr Two Electricity Co commented: 'The QIPP Expansion Project is a very ambitious project and we are proud to support its development. We look forward to working with TR & Orascom Construction and GE Vernova to contribute to Saudi Arabia's enhancement of its electricity supply as the Kingdom transitions its power generation mix to incorporate more renewable energy in alignment with Saudi Vision 2030 and its ambitious sustainability targets.' 'QIPP project is evidence of Saudi Arabia's strong belief in the future of gas as it emits less CO2 and other pollutants than oil-fueled power plants,' said Joseph Anis, President & CEO of GE Vernova's Gas Power business in Europe, Middle East & Africa. 'We have developed a productive and successful relationship with TR & Orascom Construction building on our proven expertise in natural gas combined cycle plant engineering, operability, and plant integration, and we are delighted to deploy some of our most advanced power generation technologies, with the potential to integrate carbon capture solutions to help significantly reduce carbon dioxide emissions in QIPP's and other gas power plants in Saudi Arabia.' GE Vernova has been playing a pivotal role in fostering the evolution of the Kingdom's energy infrastructure for almost 90 years, supporting economic diversification, localization, high value exports, and talent development efforts and still does so today in support of Saudi Vision 2030. The company currently employs approximately 850 people in Saudi Arabia. GE Vernova's investments in the Kingdom include the Khobar Integration Facility (KIF) for grid solutions, as well as the GE Manufacturing and Technology Center (GEMTEC) campus in Dammam, which encompasses a Services and Repairs Center for gas turbines, the GE Saudi Advanced Turbines (GESAT) facility for the manufacturing of gas turbines, components and accessory modules, the GE MENA Decarbonization Center of Excellence, and a Monitoring & Diagnostics Center for the remote monitoring of power generation assets. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
TECHx
21 hours ago
- TECHx
Huawei ICT Global Final 2024-25 Concludes in Shenzhen
Share The 9th Huawei ICT Competition Global Final 2024-2025 concluded in Shenzhen, China, with a vibrant closing ceremony and awards presentation. Huawei revealed that 16 teams from nine Middle East and Central Asia (ME&CA) countries took part in the final round. The countries included Pakistan, Saudi Arabia, Uzbekistan, Qatar, Kazakhstan, Bahrain, Iraq, Jordan, and Lebanon. Participants competed across two categories—Innovation Track and Practice Track. The teams won four first prizes, four second prizes, and eight third prizes. Huawei reported that the finalists advanced from a regional selection process that drew over 31,000 university students and faculty from more than 640 institutions across 19 ME&CA countries. In total, 62 students and faculty made up the 16 qualified teams. These participants demonstrated strong technical skills and innovation capabilities at the Global Final. The Comsats University Islamabad team from Pakistan secured first prize in the Innovation Track. Qatar University of Doha for Science and Technology received second prize for its 'BeMySense' project. The AI-driven platform uses computer vision and natural language processing to support real-time sign language and voice interaction. Third prizes went to team Volta from Uzbekistan and team NABEEH from Saudi Arabia. A member of the Qatar team shared their appreciation, stating the Huawei ICT platform was a valuable learning and competition experience. The team also praised the opportunity to engage with international participants. Huawei presented the 'Women in Tech' award to the all-female NABEEH team from Saudi Arabia. The company also revealed its Green Development Awards, recognizing teams using technology to tackle environmental challenges. In the Practice Track: First prizes in the Network category went to teams from Bahrain, Kazakhstan, and Jordan. Pakistan secured third place in the same category. Kazakhstan and Pakistan won second prizes in the Computing Track. Lebanon and Iraq earned third place in the Computing Track. Lebanon also claimed second place in the Cloud Track, with Pakistan, Iraq, and Kazakhstan receiving third. Huawei announced that diplomatic officials attended the awards ceremony. Representatives from the Embassy of Kazakhstan and the Saudi Consulate General in Guangzhou presented awards to their national teams. A roundtable forum, led by Tavsultanova Tamara of Huawei's ICT Talent Partner Development Department, explored educational trends and innovation. It featured experts from government, academia, and industry, including Dr. Omar Alzubi from Al Balqa Applied University, Jordan. Additionally, the 2025 Huawei Most Valuable Instructor Forum was held on May 21. Huawei reported that the event brought together nearly 200 ICT Academy teachers and industry experts. They shared teaching practices and discussed school-enterprise collaboration. Mardin Anwer from Salahaddin University showcased her achievements after a global selection process. Huawei awarded 18 instructors from 10 countries the title of Most Valuable Instructor. Aigul Izdenova from the Ministry of Education and Science of Kazakhstan delivered a keynote. She highlighted how the 'AI-Sana' program supports AI startups and educational reform. Dr. Mohamed Madkour, Vice President of ICT Strategy & Marketing at Huawei ME&CA, said the competition demonstrated how students use emerging technologies to solve global challenges. He emphasized the role of AI, cloud computing, and big data in transforming industries while promoting sustainability and digital inclusion. Huawei also hosted the AI Accelerating Education Transformation Summit during the event. It announced the AI Capability of the Huawei ICT Academy Intelligent Platform. Participants visited Huawei's Ox Horn Campus and Exhibition Hall to explore its latest research and ICT practices. Since its launch in 2015, the Huawei ICT Competition has engaged over 960,000 students and faculty members. Participants have come from more than 2,000 institutions across 100 countries and regions. Huawei revealed that the competition is listed on China's national university competition list and is part of UNESCO's Global Skills Academy. It aims to meet the growing demand for professionals in AI, big data, and cybersecurity through multi-track contests, academic collaboration, and curriculum development.
Campaign ME
a day ago
- Campaign ME
GoSpike launches as GoWit, Spike Media unite to power retail media in Saudi Arabia
GoWit, a global adtech company specialising in commerce and retail media technology, has announced a strategic partnership with Spike Media, the force behind Saudi Arabia's largest in-app media network, to unite as GoSpike Retail Media. The partnership aims to combine GoWit's technology with Spike Media's local reach to redefine the advertising landscape across the Kingdom. 'Our partnership with Spike Media reflects a shared belief in the transformative power of omnichannel advertising,' said Emrah Adsan, CEO of GoWit. 'Saudi Arabia is rapidly becoming one of the most exciting digital retail markets in the world,' Adsan continued. 'As retailers look for new ways to monetise their ecosystems and advertisers seek more accountable, data-driven performance, retail media sits at the intersection of both.' By combining GoWit's global retail media technology with Spike's local market expertise and in-app scale, GoSpike Retail Media aims to build the infrastructure to help Saudi businesses unlock new revenue, reach more customers, and shape the future of commerce media in the region.' GoWit's all-in-one, self-serve retail media ad (RMA) platform aims to empower retailers, agencies, brands, and publishers to launch omnichannel ad campaigns that connect with customers at every step of the journey. By leveraging first-party data, real-time insights, and seamless quick integrations, GoWit aims to help businesses increase visibility, drive incremental revenue, and unlock the full monetization potential of their owned media, both online and in-store. Spike Media claims its platform SpikeCom is the largest in-app media network in Saudi Arabia & GCC, simplifying the process of in-app advertising by connecting publishers and advertisers on a single, intuitive platform. This collaboration aims to be where the best of both worlds meet. 'We've always been committed to simplifying in-app advertising and creating real value for our partners,' said Osama Bukhari, CEO of Spike Media. 'This partnership with GoWit allows us to expand that value into the world of Retail Media, bringing together our in-app reach and local power in the Kingdom.' For retailers, retail media represents a high-margin business model, often delivering profit margins of over 70 per cent, according to GoWit. The adtech company claims that the Saudi Arabian retail sector is experiencing rapid digital transformation, and the need for targeted, performance-driven advertising solutions has never been greater. With the MENA retail media market projected to exceed $1bn by 2027, according to GroupM, the region is quickly becoming a hotspot for digital advertising innovation. According to McKinsey, 73 per cent of global advertisers expect to increase their investment in retail media in the coming year, a trend now extending into the Kingdom as businesses seek more accountable, ROI-driven marketing strategies. This partnership aims to directly address the rising demand for advanced retail media advertising capabilities in the region. 'We're excited to give retailers and advertisers the tools to build smarter and impactful advertising campaigns, monetise more touchpoints, and ultimately grow faster in a rapidly evolving market,' said Looking ahead, the launch of GoSpike Retail Media aims to marks a significant milestone in Saudi Arabia's digital advertising evolution. From awareness to consideration and conversion, the partnership aims to allow brands to be able to engage consumers at every step of their journey, across multiple channels, with accuracy and high performance.
