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VUZ, a startup well-known for providing immersive video experiences from various events, has recently secured $12 million in funding as it focuses on expanding its presence in Saudi Arabia, the United Arab Emirates, Africa, Asia, and the United States. The funding round, led by the International Finance Corporation (IFC), also saw participation from Al Jazira Capital, CrossWork VC’s Success Fund, existing investors, and Saudi family offices.
IFC’s investment is significant as it typically focuses on financial infrastructure and logistics in emerging markets, making this a rare venture into consumer tech and the “immersive internet.” Founder and CEO Khaled Zaatarah expressed excitement about the potential for global scaling, especially in emerging markets. VUZ, formerly known as 360VUZ, sets itself apart by offering immersive, 360-degree content that immerses users in various experiences such as live events and shows.
With exclusive streaming deals with La Liga and the Professional Fighters League (PFL), as well as collaborations with over 100 content creators, VUZ is positioning itself as a strong competitor against platforms like YouTube, TikTok, Twitch, and Instagram. The company’s expansion efforts align with the continued growth of video consumption in emerging markets like Egypt, Nigeria, Indonesia, and Kenya, where younger audiences show a growing interest in video content.
VUZ has seen a steady increase in users globally, reaching 15 million users and 3 billion lifetime screen views. The company’s revenue model has evolved to offer a mix of free and premium content, with a focus on subscriptions and partnerships with telecom operators for distribution. By leveraging freelance creators and innovative production methods, VUZ has managed to increase revenue and gross profit while achieving EBITDA profitability in 2024.
To support creators, VUZ offers editing services through its “VUZ Studio” team and live commerce features for influencers to sell products during livestreams. The company faces the challenge of convincing users and creators of the value of immersive content, especially in competitive markets like the U.S. However, in regions where the creator economy is still emerging, VUZ has the opportunity to establish itself as a leading platform for immersive experiences.
Still, Zaatarah is confident that VUZ, aiming for over 5 billion lifetime views by 2026, can stand out by exploring untapped territories.
“We’re not just focusing on YouTube and Netflix,” he explained. “Our goal is to cater to creators in Nairobi or Riyadh, offering a hyper-local product, network, and monetization model with the potential for global expansion.”
The company’s growth is becoming more apparent with offices now established in Saudi Arabia, the UAE, Egypt, Jordan, and the U.S. Additionally, VUZ is in the process of establishing teams in India and Indonesia. In Africa, VUZ is already operational in Egypt, Kenya, and Nigeria, with plans to expand to South Africa later this year.
Farid Fezoua, IFC global director for Disruptive Technologies, Services, and Funds, commented, “VUZ’s technological prowess and international presence are in line with our mission to support scalable platforms that empower creators.”
