ChainCatcher news, according to Assiyaq, the UAE-based Web3 service provider Verofax has announced the completion of a $3 million bridge financing. This round of financing was led by investors including King Abdullah University of Science and Technology, Plug & Play Tech Center, Navig8 Group, and Trove Capital UK. Other participants in this round of financing include Jawa Brothers Advisory, Alzamil Pedco CVC, and Tracecore CVC.The newly acquired funds will be used to advance Verofax's projects in the Middle East and the EU. These projects include AI guidelines tailored for the Gulf Cooperation Council region and a sports fan guide for audiences in the EU and North America.Verofax was founded in 2018 by Wassim Merheby and Jamil Zablah, leveraging Web3 technologies such as augmented reality, blockchain, and artificial intelligence to enhance the marketing experience for tourists, shoppers, and brands.It is reported that in 2022, Verofax raised $1.5 million in a pre-Series A financing round led by Benson Oak Ventures, with participation from 500 Global, Wami Capital, and Vernalis Capital.

ChainCatcher news, the Web3 compliance tool Verofax will complete a $750,000 financing on the Beban crowdfunding platform, licensed and regulated by the Central Bank of Bahrain. GCC investors can participate in Verofax's $750,000 financing through the Beban crowdfunding platform, with a minimum investment of $100.It is reported that Verofax is incubated by the UAE government-funded project MBRIF and Hub71, headquartered in the UAE, and operates in Europe, North America, Asia, Africa, and the Middle East. Verofax provides a comprehensive set of tools for consumer engagement and compliance verification. By leveraging Verofax solutions, brands can ensure supply chain compliance and sustainability. (Source link)