UAE Web3 Startup Verofax Raises $3m Bridge Round Backed by KAUST and Plug and Play
Abu Dhabi-based Verofax has secured $3 million in bridge funding to advance its Web3 solutions for tourism, retail and brands.
Verofax, the Abu Dhabi-based Web3 services provider, has raised $3 million in bridge funding from a group of investors led by the King Abdullah University of Science and Technology (KAUST), Plug and Play Tech Center, Navig8 Group and Trove Capital UK.
The company uses patented technologies spanning augmented reality, blockchain and artificial intelligence to deliver enhanced experiences for tourists, shoppers and brands, including product authentication and engagement tools.
Verofax said the capital will support the continued rollout of its Web3 solutions across the Middle East and Europe.
The round reflects sustained investor appetite for enterprise-focused Web3 platforms that tie digital assets to real-world products and experiences.