VUZ gets $12M for its immersive video experiences across emerging markets and the U.S.

VUZ, a startup known for offering immersive video experiences from red carpets and football stadiums, has raised $12 million as it doubles down on its presence in Saudi Arabia and the United Arab Emirates, as well as accelerates expansion into Africa, Asia, and the United States. The pre-Series C funding round, led by the International Finance Corporation (IFC), also drew participation from Al Jazira Capital, CrossWork VC’s Success Fund, multiple existing investors, and several high-profile Saudi family offices, the company said. IFC’s investment is particularly notable. The World Bank Group member, known more for investing in financial infrastructure and logistics across emerging markets, is making a rare bet on consumer tech and specifically, the so-called “immersive internet.” “They are focused on emerging markets and saw us as a company that’s focusing on scaling globally and also into those markets. Our work in the creators and the content space got them very excited and based ... Read full article.