• Verofax Limited

  Participated · Convertible Note · Aug 2024

  Verofax is an Abu Dhabi, UAE-based Web3 services company that applies patented Web3 technologies—blockchain, augmented reality and artificial intelligence—to provide elevated tourist, shopper and brand marketing experiences. Its core product combines AI-powered guides, AR experiences and blockchain-enabled engagement to turn destinations, retailers and sports stadiums interactive and drive conversion and social virality. The company leverages gamification and direct brand-to-customer engagement to increase consumer intimacy and measurable results from AI and AR experiences. Verofax serves retail, tourism and sports sectors and is used by brands such as Anheuser Busch Inc and Emirates Airlines. Led by CEO Wassim Merheby, it raised $3M in bridge funding to execute a pipeline of projects across the Middle East and EU, including AI-powered guides in the GCC and sports fan guides in the EU and North America. The funding is intended to support commercialization and deployment of its solutions across venues and brands. Verofax provides asset digitization and 'Traceability as a Service' using patented technology that incorporates blockchain, augmented reality and artificial intelligence. Its platform enables brands to turn offline products interactive, manage supply chains, fend off counterfeit activity and improve manufacturers' productivity. Brands can extend reach directly to end consumers, increase consumer intimacy through direct engagement, and leverage NFTs and metaverse experiences. The company's solutions target industries such as retail and CPG and are already used by leading brands including Anheuser Busch Inc. Verofax is a Microsoft Gold partner, has a global network of distributors and resellers, and co-sells on enterprise platforms including Microsoft Appsource, Amazon AWS and Ant Group Antchain. Led by CEO Wassim Merheby, Verofax closed a $1.5M pre-Series A round and plans to use the funds to expand global sales and marketing ahead of a planned Series A later in 2022. Verofax provides an automation and traceability platform that enables Item ID serialization, traceability, and transaction certification on a private blockchain to prevent counterfeiting, boost manufacturer-consumer engagement, and increase staff productivity through data insights. Founded in 2018 and led by Wassim Merheby and Jamil Zablah, the company is headquartered in Abu Dhabi and also maintains an office in Kuala Lumpur. Verofax has established partnerships with a sustainable retailer in Asia and set up joint ventures across Asia, Africa and the GCC. It has been approved as a co-sell partner by Microsoft, Oracle and AntGroup. The company secured $1.2M in seed funding and intends to use the proceeds to serve its pipeline of projects, launch a marketing campaign targeting the food, healthcare and apparel industries, and hire 20 additional team members, mainly software developers and business development managers.

No current team members are available.