Verofax, a Web3 services company, announced a $3M bridge round led by international investors Plug & Play Tech Center, Navig8 Group, King Abdullah University for Science and Technology, Trove Capital UK follow-on investment, Jawa Brothers Advisory, with Alzamil Pedco CVC and Tracecore CVC.
Verofax applies patented Web3 technologies such as Blockchain, Augmented Reality, and Artificial Intelligence to provide ‘Elevated tourist, shopper, and brand marketing experiences’, enabling destinations, retailers, and sports stadiums to turn their experiences interactive and drive conversion and social virality.
Verofax has won many awards for the application of artificial intelligence for tourism and retail and has achieved sales of over $3M for Fortune 100 companies across 50 markets globally.
The funds will be used to execute the Company’s pipeline of projects in the Middle East and EU, notably AI-powered guides in GCC and Sports fan guides in the EU and North America.
