Abu Dhabi’s Verofax Raises $3M to Expand AI and AR-Powered Solutions 

Abu Dhabi-based Web3 services provider, Verofax, recently secured $3 million in bridge funding to support its upcoming projects across the Middle East and Europe.

The funding round was led by King Abdullah University of Science and Technology, Plug & Play Tech Center, Navig8 Group, and Trove Capital UK. Additional investors included Jawa Brothers Advisory, Alzamil Pedco CVC, and Tracecore CVC.

Verofax plans to use the capital to roll out AI-powered solutions in the GCC and develop sports fan engagement tools in the EU and North America. The company, led by CEO Wassim Merheby, integrates cutting-edge Web3 technologies like augmented reality, blockchain, and artificial intelligence to enhance tourist, shopping, and brand marketing experiences.

These advanced technologies help businesses in retail, tourism, and sports sectors create interactive experiences, boost engagement, and foster social media virality. By incorporating gamification and direct user engagement, Verofax enables brands to strengthen their customer relationships and improve the effectiveness of AI and AR-driven initiatives.

Top-tier companies such as Anheuser Busch Inc. and Emirates Airlines already leverage Verofax’s solutions to transform their customer interactions. The company’s products are versatile, catering to industries from retail and tourism to sports.

Commenting on the development, CEO Wassim Merheby stated, “Our solution enhances the tourist experience by offering personalized discounts and gamified 'Explore to Win' experiences through augmented reality. This enables brands to improve their marketing efficiency and connect directly with consumers, creating memorable experiences that drive growth and loyalty. We're excited to have strategic investors on board who will support the expansion of our AI-driven guide solutions and AR gamified experiences, helping us grow through their networks and expertise.”

Verofax's innovative use of AI has garnered recognition in retail and tourism, and its solutions have generated over $3 million in sales for Fortune 100 companies across 50 countries.