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 on our progress and growth, there’s so much potential to build upon that,” founder and CEO Khaled Zaatarah said in an interview with TechCrunch.
VUZ, formerly 360VUZ, isn’t just competing locally; it’s up against global giants like YouTube, TikTok, Twitch, and Instagram, platforms that already dominate with massive user bases and strong creator loyalty.
But VUZ believes it has a differentiated offering: immersive, 360-degree content that puts users “inside the experience,” whether that’s the Grammys in L.A., a La Liga match in Spain, or a fashion show in Dubai. Users can consume content through mobile apps, the web, VR headsets like Apple Vision Pro and Oculus, as well as smart TVs.
The company has signed exclusive immersive streaming deals with La Liga and the Professional Fighters League (PFL), and is working with over 100 content creators whose combined audience reach tops 100 million.
Streaming goes local, but still global
VUZ’s expansion push comes at a time when global streaming growth is plateauing in mature markets. YouTube and TikTok dominate mobile-first video consumption in the U.S., while Netflix and Disney+ are fighting churn and focusing on profitability.
However, in emerging markets like Egypt, Nigeria, Indonesia, and Kenya, user growth is still accelerating, particularly among younger, mobile-savvy audiences with an appetite for video and live content.
Zaatarah says VUZ is ready to meet that demand. The platform has crossed 15 million users globally, up from 10 million in 2022, and now logs nearly 3 billion screen views, up from 1 billion at the time (when we last covered the startup). Its user base spans the Middle East, the U.S., Asia, and Africa.
To accelerate its U.S. push, the company is shifting from organic growth to paid marketing, aiming to convert viewers of events like the Oscars and music premieres into long-term users. Meanwhile, in Africa and Asia, VUZ is investing in local partnerships, particularly with telecom operators, to expand its distribution. It has over 40 such partnerships globally.
VUZ’s monetization model has evolved since its earlier days, when the platform offered about 70% of its content for free and generated revenue through ads. Now, that ratio has shifted to 60% free and 40% premium content, accessible via an annual subscription or bundled telecom offers.
The company says it has doubled revenue over the past two years and posted an 80% increase in gross profit last year. While it declined to share exact numbers, Zaatarah says the company reached profitability in 2023.
That’s partly thanks to an Uber-like content model: instead of deploying large production crews, VUZ trains and equips freelance reporters and creators, often with proprietary cameras, to shoot and upload content. Creators often have the cost of equipment deducted from their future earnings.
In addition, the startup supports creators via its “VUZ Studio,” an internal team that helps edit and package immersive content quickly. According to Zaatarah, this saves creators hours of editing time. It also offers creators live commerce features, allowing influencers, especially female creators, to sell beauty products or fashion items directly during live streams.
To succeed, VUZ must convince users that immersive content isn’t just a gimmick and convince creators that monetizing on VUZ is better than TikTok or YouTube. In the Middle East and parts of Africa, where the creator economy is still early and distribution partners matter, that may be achievable.
But in the U.S. and other developed markets, competition is tougher.
Still, Zaatarah believes VUZ, which is targeting over 5 billion by 2026, can carve a niche by going where others don’t.
“YouTube and Netflix are great, but they’re not building for creators in Nairobi or Riyadh,” he said. “We’re building a product, network, and monetization model that’s hyper-local—with the infrastructure to scale globally.”
That scale is coming into focus: the company now has offices in Saudi Arabia, the UAE, Egypt, Jordan, and the U.S. It’s actively building out teams in India and Indonesia. In Africa, VUZ is already live in Egypt, Kenya, and Nigeria, and says it will launch in South Africa later this year.
“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.
