Tag: Verofax Ltd

Verofax and Jawraa Partner to Revolutionize Customer Experience with Holobox AI Agent

Verofax, a leading provider of cutting-edge customer service solutions, today announced the signing of a Memorandum of Understanding (MoU) with Jawraa, a renowned telecom and digital services company in Saudi Arabia. This strategic partnership aims to elevate customer experiences by introducing Verofax’s advanced Holobox AI agent and in-app AI agent solutions, tailored to meet the needs of government institutions and large enterprises.

The collaboration between Verofax and Jawraa is set to redefine customer service in the digital era by enabling seamless, AI-powered interactions that bridge the gap between physical and virtual engagement. The Holobox AI agent provides immersive, holographic support for in-person interactions, while the in-app AI agent delivers intelligent, personalized assistance within mobile applications. Both solutions are designed to enhance customer engagement, streamline operations, and optimize service delivery across industries.

Strength of the Partnership

Jawraa brings a wealth of expertise to the partnership, leveraging its extensive relationships with telecom giants and enterprises in Saudi and across the Middle East. The company’s robust portfolio of digital solutions and telecom services positions it as a key player in driving digital transformation for governments and large-scale enterprises. Known for fostering innovative technology partnerships, Jawraa has consistently demonstrated its capacity to scale and implement sophisticated solutions that meet the dynamic demands of modern businesses.

Verofax, with its innovative AI-powered solutions, aims to transform customer experiences through augmented reality (AR) and artificial intelligence (AI) technologies. Recently, the company secured $3 million in bridge funding, reaffirming its commitment to deploying AI and AR experiences that enhance user engagement across various sectors, including tourism and sports. Verofax’s partnership with Jawraa marks a significant milestone in its growth trajectory as it continues to pioneer advanced customer service technologies.

Enhancing Customer Experience through AI Innovation

Dr Sulaiman Al-Turki CEO of Jawra said: “The introduction of Holobox and in-app AI agents will provide customers with a new level of convenience and interactivity. These AI-driven tools are designed to handle complex inquiries, provide real-time support, and personalize customer journeys, resulting in faster resolution times and improved satisfaction levels. The solutions will be particularly beneficial for sectors that rely on high-touch customer interactions, such as government services, telecom, and large-scale enterprises”

Mr. Wassim Merheby CEO/ Cofounder of Verofax, commented, “Our partnership with Jawraa guarantees elevated customer service for public companies and enterprises to promote sales and awareness on clients’ services. By partnering with Jawraa and showcasing the service on Saudi Export Development authority during Gitex 2024 in Dubai, we received a huge interest from prospects seeking next-generation customer experiences for enterprises and governments alike.”

About Jawraa

Since 2005, Jawraa has been a driving force in digital transformation, empowering businesses and governments with innovative solutions.

As a leading digital services and telecom company, Jawraa partners with global tech giants like SAP and Microsoft to deliver cutting-edge services in cloud computing, AI, and more. Trusted by top enterprises and Saudi ministries, Jawraa plays a pivotal role in shaping the digital future of the Middle East

About Verofax

Verofax is a technology innovator specializing in AI and AR solutions that elevate customer experiences and streamline business operations. By integrating cutting-edge AI tools, Verofax enables enterprises to provide personalized, efficient, and immersive customer interactions. Verofax continues to drive growth and innovation, having recently secured $3 million in funding to expand its AI and AR capabilities across various sectors. Verofax is a portfolio company of Sanabil PIF, KAUST, Plug & Play, 500 startup, Hub71 and other leading VCs globally offering its services to Fortune 100 companies across 50 markets.

Learn more at https://www.jawraa.com/ and https://verofax.com/ or contact info@verofax.com.

Verofax secures $3M in Bridge funding to deploy AI & AR experiences to tourists and sports fans

Verofax Limited, a Web3 services company, today announced closing 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 completing the list of investors.

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. Brands can reach customers directly, thereby increasing consumer intimacy with direct engagement and leveraging gamification for unmatched results from AI & AR experiences. Verofax has won many awards for the application of artificial intelligence for tourism and retail and has achieved sales to date 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. Verofax solutions apply to various industries (Retail, Tourism and Sports) and are already used by leading brands such as Anheuser Busch Inc and Emirates Airlines. Verofax is a Microsoft Native partner and has secured a global network of distributors and resellers, co-selling on enterprise solution platforms such as Microsoft Azure Marketplace, Amazon AWS, and other platforms.

Wassim Merheby, CEO of Verofax, said, “Our solution helps Tourists elevate their experiences, unlock personalized discounts and Offer gamified ‘Explore to win’ sponsored games in Augmented reality. This allows enterprises and brands to sponsor and elevate their marketing efficiency, power direct-to-consumer communication and deliver amazing experiences to drive growth and boost loyalty. We are thrilled to be joined by strategic investors that will help us accelerate our AI guide solution and AR gamified experiences and grow through their collective network and with their advice.”

Abdullah Alakeel, Country Director of Plug & Play Saudi, said: “Our recent investment in Verofax demonstrates our unwavering commitment to supporting the most promising startups within the Kingdom and the broader region. As one of the world’s most active and successful early-stage tech investors, we are fully dedicated to nurturing the Kingdom’s entrepreneurial ecosystem. We are thrilled to witness the transformative impact that Verofax will continue to make within the Tourism industry.”

Mr Ian Campbell, Vice President of the National Transformation Institute (NTI), said, “KAUST is mandated to accelerate the digital economy in the Kingdom as part of the University’s forward vision, leveraging KAUST science and innovation to make an impact beyond the walls of the campus itself and to create collaborations and identify opportunities where KAUST can contribute by convening minds and resources together to deliver solutions to benefit the wider Kingdom and beyond. The application of AI in tourism, customer service and beyond are applications that fall within our investment mandate.”

Jamal Jawa, Managing Partner of Brothers Advisory, said, “Our investment thesis is to support growth startups that leverage the latest technologies such as AI / AR and Web3, setting new service categories. We have been incredibly impressed by Wassim and the whole Verofax team and are thrilled to be making this our first investment in a Pre-Series A startup in the GCC region”.

About Verofax
Verofax is a Web3 Asset Digitization and mixed-reality experience solution provider with a presence across North America, Europe, Asia and MEA regions. The Verofax solution is available across multiple cloud marketplaces, such as AWS & Microsoft Azure, to power tourism and retail personalized, immersive experiences with ease to boost customer loyalty and repurchase rates. Verofax boasts investment and support from 500 startups, including Sanabil Investments (PIF), and has received government grants to develop its IP globally. For technical matters, visit Verofax at https://www.verofax.com or contact info@verofax.com.

About Plug & Play Tech Center
Plug & Play Tech Center is the most significant innovation platform in the world, supercharging innovation of over 500 industry-leading corporations by keeping them at the forefront of industry trends through PnPTC corporate Accelerator programs. Plug & Play runs over 100 industry-focused accelerator programs in over 50 locations globally and invests in over 250 companies a year alongside the world’s best VCs. For more information, visit https://www.plugandplaytechcenter.com.

About KAUST
KAUST is an international graduate-level science and technology research university located on the shores of the Red Sea in Saudi Arabia. Home to world-class faculty, scientists, engineers, and students from around the globe, the campus’s 10 research centers focus on solving problems related to water, food, energy, and the environment. Students can access state-of-the-art labs and our eminent faculty while obtaining a diverse graduate study experience. Visit https://www.kaust.edu.sa/en/ or #KAUSTPortfolio for more information.

About Jawa Brothers Advisory
Jawa Brothers Advisory, Owned and Managed by the Jawa Family, has been an Active Investor in the field of Private Equity for more than three decades. The group invests primarily through interests in limited partnership positions, Leveraged Buyout (MBO and LBO), Growth and Expansion Capital Private Equity Funds and Late Stage Venture Capital Funds. Funds are selected based on a clearly defined set of criteria. The company’s disciplined and discerning investment professionals perform exceptional due diligence, studying the industry to identify specific opportunities and trends. Jawa Brothers Advisory is part of Starling Group. Visit https://www.starlinggroup.com/ for more information.

Learn more at https://www.verofax.com or contact Verofax at info@verofax.com.

Verofax facilitates Egyptian EU Export with CBAM Compliance and Lifecycle Assessment Solutions

  • Egyptian Businessmen’s Association (EBA) convenes export symposium on February 9

The Egyptian Businessmen’s Association (EBA) convened a symposium on February 9, chaired by Engineer Majd al-Din al-Manzalawi, Secretary-General and Chairman of the Association’s Industry and Scientific Research Committee, to address the challenges and opportunities presented by the Carbon Border Adjustment Mechanism (CBAM), a law governing manufacturing standards for Egyptian exporters.

The Egyptian Businessmen’s Association (EBA) convened to discuss the importance of technology in keeping factories compliant with export requirements of the EU.

The symposium invited Mr Wassim Merheby, CEO of Verofax and a technology and AI (artificial intelligence) expert, along with Dr. Hossam Ezz al-Din, Director General of the Industrial Pollution Control Program at the Ministry of Environment, and several heads of specialized committees, to focus on the urgent need for Egyptian exports to align with the green economy principles outlined in the CBAM law. 

The discussion emphasized the imperative for Egyptian exports to adhere to the green economy principles outlined in the CBAM law. Key topics included the integration of automated quality data, aggregated across supply chains to streamline compliance processes, access to finance opportunities with prominent European institutions, and enhancing industry performance to support a sustainable economy in Egypt.

Wassim Merheby of Verofax explains how Egyptian exporters could achieve greater profit and seize a greater share of the EU market through compliance with CBAM.

Merheby highlighted the timeline for compliance, noting that registration for the new EU export regulations system would commence on January 1, 2025, with full implementation scheduled for January 2026. Merheby urged Egyptian factories to adapt promptly to the new international legislation, to avoid export bans and hefty tariffs of up to 35%.

The symposium underscored the importance of automating the processes in exporting factories to efficiently meet carbon footprint standards, thereby enabling Egyptian exporters to provide high-quality and validated data. This automation is made possible through Verofax’s comprehensive Lifecycle Assessment Solution, which integrates over 130 systems, ensuring seamless verification of recycled goods, emission reductions, and quality data aggregation for exports to the EU.

Hossam Ezz El-Din, Director General of the Industrial Pollution Reduction Program at the Ministry of Environment, outlined the program’s objective to incentivize industries to adopt environmentally compliant and sustainable practices through finance packages of loans and grants, funded by the European Union.

El-Din elaborated on available financing programs, detailing two types of program: loans, and grants. The Central Bank of Egypt has directed these programs to local banks, including the Ibad program, valued at 135 million euros and expected to conclude by the end of the year. Additionally, a new program named Green, valued at 268 million euros, will commence in 2025, offering a grace period of one to two years and repayment over 5 years. This program also allows borrowing in foreign currency and repayment in Egyptian pounds.

The symposium concluded with a call for continued collaboration among government bodies, financing institutions, and industries to facilitate smooth transition towards environmentally compliant production practices, thereby ensuring Egypt’s competitiveness in international markets.

YouTube: https://youtu.be/i88vJzpjPsM
source: Symposium on Carbon Tax – Egyptian Businessmen’s Association discusses the importance of technology in factory compatibility with EU export requirements; Elmahrousa News, February 9th, 2024.

About Verofax
Verofax is a blockchain-enabled Asset Digitization & Traceability Solution provider, assisting various industries in automating data validation for EU commodity exporters, integrating a Lifecycle Assessment Solution that automates data aggregation across supply chains for seamless EU Carbon Border Compliance. Integrated with Microsoft IoT hub, validated on Azure Cloud, and in compliance with ISO 14064/14067. Our patented computer vision prevents double counting, and our digital passport on an immutable ledger enables validated data for smooth exports to the EU. Learn more about our automated Lifecycle Assessment Solution at www.verofax.com, or contact us at info@verofax.com.

About Egyptian Businessmen’s Association (EBA)
The Egyptian Businessmen’s Association (EBA) is a leading organization dedicated to advancing economic development, entrepreneurship, and sustainable business practices in Egypt. With a diverse membership representing various industries, the EBA catalyzes innovation, advocacy, and partnership-building to drive inclusive growth and prosperity. Visit www.eba.org.eg.

For media inquiries:
Wassim Merheby, CEO, Verofax
Email: info@verofax.com

Verofax is among the Top UAE Future100 to Positively Impact the Nation’s Future Economy!

Verofax, a leading compliance and commerce SaaS solution provider, has earned distinction as one of the top Future100 pioneering startups, selected by the Ministry of Economy and the Ministry of State for Government Development and the Future. This recognition underscores Verofax’s pivotal role in contributing positively to the UAE’s economy and enhancing its preparedness for the future.

The prestigious unveiling of the Future100 took place at the Award Ceremony hosted at the Museum of the Future, symbolizing a momentous occasion in recognizing and celebrating innovation. Future 100 has recognized Verofax for its innovative technology in decarbonizing industries and boosting the competitiveness of the country’s Industrial sectors.

H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, said “We congratulate the 100 companies that successfully made it to the final stage of the initiative’s first edition to become the best 100 companies of the future, possessing pioneering capabilities for growth and healthy competition,” Al Marri added “ We believe this is a turning point that will enable these companies to achieve more sustainable commercial success and access to regional and global markets.” 

H.E. Ohood bint Khalfan Al Roumi, UAE Minister of State for Government Development and the Future, said: “Future100 has uncovered numerous startups and scaleups venturing into new sectors, receiving over a thousand applications from various targeted sectors over three months.” 

Over 45 evaluators and experts across different sectors evaluated the applications, conducting interviews with company officials using a predefined set of criteria. These criteria encompassed the capacity for innovative business models leveraging new technologies, the potential of the target market, the ability to engage key customers through a well-defined business plan supported by clear financial data, the feasibility of the business with a strategy for securing future financing, and consideration of the impact of environmental and social governance in both the UAE and global contexts.

Verofax’s automates compliance, traceability and verificationAs more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across the supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.

Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on the interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling thresholds are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”

Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, and commodity provenance, prevents recycling double counting, across a tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.

About Future100Future100 is a collaborative initiative between the Ministry of Economy and the GovernmentDevelopment and the Future Office, united in their mission to foster the growth of 100 pioneering startups pivotal to shaping the trajectory of the UAE’s future economy. This innovative initiative focuses on sectors of strategic importance, including space exploration, renewable energy, and emerging technology, with the overarching goal of establishing novel benchmarks for the country’s economic landscape. Beyond its immediate objectives, Future100 aspires to propel the UAE’s standing in global competitiveness, entrepreneurship, and investment rankings, thereby solidifying the nation’s position as a frontrunner in the ever-evolving landscape of innovation and economic dynamism.

About VerofaxVerofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.

For media inquiries, please contact:Wassim Merheby, CEO, VerofaxEmail: info@verofax.com

Verofax is selected by PwC Middle East among Top Future50 climatech start-up

Verofax a compliance and commerce SaaS solution provider has been selected among the top Future50 climate tech start-ups by PwC Middle East to help enterprises’ accelerate on their path to Net Zero.

PWC had scoured the region and short-listed from 500 businesses across 11 categories of impact. Verofax was selected among top 6 Climate Change Management and Report (CCMR) startups for its sustainable traceability solution to help decarbonize industries and enable validated exports in line with recent regulations like EU’s Carbon Border Tax (CBAM).

PwC Middle East revealed the 50 pioneering start-ups in the Middle East at Net Zero Future50′ launch event highlighting the groundbreaking technologies and achievements in climate management and carbon emissions reporting, in addition to opportunities and challenges in growing and scaling climate tech businesses.

Dr Yahya Anouti, Partner at Strategy& and Sustainability Leader at PwC Middle East, said: “Climate tech innovation in the Middle East is being driven by some of the most dynamic entrepreneurs in our region, championing new technologies to accelerate the path to net zero. As we stand just days away from the world’s most important climate conference — COP28, taking place here in the United Arab Emirates, we are excited to shine a light on regional innovators whose organisations, we feel, are making the biggest difference in reducing emissions and accelerating decarbonisation in our region. The PwC Net Zero Future50 – Middle

East report identifies leading organisations in this space, and discusses the challenges they face in their ambition to grow and scale. Their range and diversity highlights the vibrancy of the start-up and small companies scene in the region. “

Verofax’s automates compliance, traceability and verificationAs more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO 14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at

European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.

Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling threshold are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum, and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”

Patricia Keating, Scale Lead at PwC Middle East, mentioned “In our analyses of the Middle East climate technology landscape, we see the founders of climate tech companies driving innovation that’s helping to reduce emissions and accelerate decarbonisation. We found that the largest share of our NetZero Future50 companies are working ontechnologies within the sectors responsible for most GHG emissions: With Industry, Manufacturing and Resource Management contributing 29% of Middle East GHG emissions and Energy at 46%.”

Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, commodity provenance, prevent recycling double counting, across tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.

About PwCAt PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with nearly 328,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

Established in the Middle East for 40 years, PwC Middle East has 30 offices across 12 countries in the region with around 10,000 people. (www.pwc.com/me)

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

About VerofaxVerofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune 100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.

For media inquiries, please contact: Wassim Merheby, CEO, Verofax Email: info@verofax.com 

Verofax Wins at Emirates Global Aluminum Ramp-Up Programme 2023

Verofax, an award-winning product validation and traceability solution provider, is thrilled to announce its selection as one of the top three winners of the Emirates Global Aluminum (EGA) Ramp-Up Programme. The programme attracted over 600 startups from around the globe, all vying for a chance to make a significant impact in the industry.

About the EGA Ramp-Up Programme
Emirates Global Aluminum, the largest industrial company in the United Arab Emirates outside of oil and gas, initiated the EGA Ramp-Up Programme to nurture the next generation of entrepreneurs. These businesses are expected to contribute to economic growth and job creation, particularly in the realm of low-emission commodity exports.

The programme, supported by C3, consisted of a three-month series of customized workshops focusing on business and impact for 20 finalist startups. These workshops were aligned with EGA’s strategic objectives of promoting growth and sustainability.

Verofax’s Unique Contribution
Verofax’s commodity validation and traceability solution empowers exporters to automate compliance and streamline border clearance at customs in regulated markets. This is particularly crucial given the European Union’s recent introduction of Carbon Border Tax regulations, which impose tariffs of up to 35% on non-compliant exporters of high-emission commodities like steel and aluminum.

Wassim Merheby, CEO of Verofax, said, “We are very excited to have won the EGA challenge for Growth and Impact. This win underscores EGA’s commitment to low-emission commodity manufacturing. We are thrilled to promote regional exports from the Middle East with our seamless validation and traceability solutions. The EU imports of targeted high-emission commodities amount to over $80 billion, mostly catered today by China and Russia. The new regulations open doors for near-shore exporting countries like the UAE and Saudi Arabia to benefit and increase exports.”

A Commitment to Sustainability and Growth
Abdulnasser bin Kalban, Chief Executive Officer of EGA, said, “Our goal with EGA Ramp-Up is to contribute further to the UAE’s economic diversification and development by supporting innovative young entrepreneurs to launch their impact-driven and sustainability-focused businesses. We hope our support will enable these companies to thrive and that some may even become EGA suppliers, further increasing our local procurement and supporting ‘Make it in the Emirates’ and achieving the UAE’s Operation 300bn industrial growth strategy.”

As part of the Entrepreneurial Nation strategy, EGA Ramp-Up supports achieving the Centennial 2071 goal of increasing entrepreneurship in the UAE.

“These startups represent some of the most promising talent in the UAE, and C3 is thrilled to have partnered with EGA to equip them with the tools needed to accelerate their businesses. Through our tailored mentorship programme, we have nurtured their growth trajectory, enabling them to create lasting impact,” said Kevin Holliday, Managing Director of C3 – Companies Creating Change.

About EGA
EGA is a global leader in aluminum production, with operations in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine and associated export facilities in the Republic of Guinea. EGA is committed to reaching net-zero greenhouse gas emissions from its operations and supply chain by 2050. Visit www.ega.ae/en/ramp-up.

About Verofax
Verofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding four patents on AI analytics that enable intelligent supply chain and operations. Fortune 100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.

For media inquiries, please contact:
Wassim Merheby
CEO, Verofax
Email: info@verofax.com

Verofax wins GITEX Supernova Web3 & Blockchain Award 2023

Verofax, an innovator in Brand & Retail solutions, was selected among 521 startups globally as the best solution offering for Web3 & Blockchain, at the GITEX 2023 Expo,  Supernova Challenge in Dubai.

Verofax, a UAE-based startup and service provider for turning shopping & products interactive, has emerged as the winner of the 2023 Supernova Challenge at Expand North Star Dubai, the world’s largest startup event. The startup received the prize after rounds of pitching against global finalists.

Verofax’s groundbreaking solution combines interactive Product IDs with cutting-edge product recognition, enabled by advanced computer vision. This innovation has empowered consumers to:

  • Discover & Validate: Check before you buy product properties, ensuring complete transparency in terms of price, quality, and sustainability.
  • Engage Intimately: Through augmented reality, experience custom interactions that redefine brand loyalty.
  • Reap Rewards: Earn meticulously curated, personalized discounts anchored in individual purchase histories and preferences.

Verofax is on a mission to strengthen the bond between consumers and brands. This direct connection, established at the moment of purchase, accentuates trust and fosters unprecedented loyalty.

Wassim Merheby, CEO of Verofax, conveyed his gratitude, “We are profoundly honored by this recognition from the GITEX committee. It further fuels our mission – ‘Never trust, always verofax.’ As we look to the future, our resolve is only strengthened to bring forth innovations that redefine the consumer landscape.”

The Supernova Challenge is the biggest pitch competition in the Middle East, Africa and South Asia . The challenge is a key feature of Expand North Star Dubai, which hosted its biggest edition this year. It attracted over 1800+ startups from over 100 countries to explore the emerging opportunities in Dubai’s dynamic, diverse and tech-driven digital economy.

One of the judges at Supernova, Sharif El-Badawi, CEO of Dubai Future District Fund, commented, “The pitches we witnessed here at the Supernova Challenge are brimming with promise, unique innovations, and inspiring ideas.”

The Supernova Challenge Pitch Competition, a highlight of GITEX Global, in partnership with the Dubai Future District Fund, is the largest pitch competition in the Middle East, Africa, and South Asia. Startups vie for top honors in a range of categories, aspiring to become the next unicorn in the tech world.

Overall, thirteen category winners representing the USA, India, UAE, South Korea, France, UK, Nigeria, Switzerland, China and Bangladesh took home prize money:

Blockchain and Web3 Disruptor: Verofax from the UAE, a platform enabling real-time immersive shopper experiences instore and product quality validation.

Sustainability and ESG Disruptor: Zenerate from the USA, a platform providing AI-powered feasibility solutions for real estate development.

AI Disruptor: Knorish, a platform that enables hobbyists, professionals and niche experts to build, launch, market and sell online courses powered by their own knowledge and as an extension of their own brand.

Fintech and E-commerce Disruptor: Appro Technologies from the UAE, a digital platform simplifying retail banking onboarding.

Mobility and Smart Cities Disruptor: Innocel from France, a company providing clean energy solutions for a net zero future.

Healthtech and Wellness Disruptor: Skia from Korea, a digital surgery guide solution using augmented reality (AR) technology.

Martech Disruptor: Smartzer from the UK is a SaaS platform brands use to make live streams and videos interactive and shoppable to drive sales.

Female Founder Award: Matis from Switzerland, a platform empowering art market stakeholders with accessible and quantifiable tools for art authentication.

Africa Fast Award: Gifty from Nigeria, an app that helps people easily share gift lists with family and friends and avoid duplicating purchases.

Asia Fast Award: Urtopia from China, a company dedicated to revolutionizing urban transportation with its smart, sleek, and stealthy e-bikes.

India Fast Award: EyeROV from India, a marine robotics company providing underwater ROVs (remotely operated vehicles) to various industries.

Insurtech Disruptor: InsureCow from Bangladesh, a platform offering a 360° technology-powered cattle insurance and wellbeing monitoring solution.

MENA Award: Jalebi.io from the UAE is the world’s first restaurant operating system that helps restaurants save 5% on the cost of every order served.

The Supernova Challenge featured 40 finalist startups selected from the Expand North Star global roadshow, a series of international pitch competitions held by the Dubai World Trade Centre and DCDE to attract startups to Dubai and foster collaborations with digital ecosystems in various countries.

Expand North Star hosted by Dubai Chamber of Digital Economy (DCDE) is the powerhouse startup show of GITEX Global, organized by the Dubai World Trade Centre (DWTC) concluded this week marking its largest-ever edition at its new Dubai Harbour venue.

About Verofax
Verofax is a blockchain-enabled Brand and Retail solution provider with a presence across North America, Europe, Asia and MEA regions. Verofax’ solution is available across multiple cloud environments, helping Brands and retailers turn products connected for meaningful engagements with customers in store.

For technical matters, visit Verofax at https://www.verofax.com or contact info@verofax.com. 

Verofax’ Transformative Brand & Retail Martech Solution achieves FTR approval on Amazon AWS Marketplace

Verofax, an award-winning Brand & Retail Martech solution provider, has been awarded AWS’ Full Technical Review (FTR) and approved for Amazon’s AWS Marketplace. As a result, Verofax services will now be available directly for retail and for global brands on the Marketplace, leveraging the unparalleled capabilities of AWS, and turning brand managers into advocates.

Verofax wins The Artificial Intelligence Award at the Rocket Fuel Startup Competition during LEAP 2023 in Riyadh, Feb 21, 2023.

Specializing in brand-customer direct engagement by transforming products into a brand’s greatest marketing channel with patented technologies such as computer vision, Artificial Intelligence (AI) and product digitization, Verofax enables a direct, seamless connection to customers and accesses first-party, real-time customer data to offer personalized brand experiences. The result: brands are able to reduce their cost of customer acquisition, increase promotional marketing ROI (conversion rate) and improve brand loyalty (NPS).

With the AWS FTR approval, Verofax’s advanced solutions have received the seal of validation and endorsement from AWS Solutions Architects. This recognition showcases Verofax’ commitment to delivering exceptional performance, security, and scalability with their Brand, ‘Asset management and traceability platform,’ and Retail, ‘Verofax omni channel retail automation solution,’ worldwide.

Brands that are choosing innovation in working with Verofax benefit from a range of advantages, circumventing traditional marketing channels and elevating customer acquisition rates by up to 60% with costs reduced 20-fold when compared to online Ads. Verofax successfully partners with renowned Fortune 100 brands, including industry giants like Budweiser & Corona, to power global marketing campaigns and create attractive direct-to-consumer experiences.

Rodrigo Cabaleiro, Global Director of Premium Brands, AB InBev said, “Verofax’ solution for interactive packaging improved acquisition and engagement during our FIFA World Cup promotion. By turning our products into a direct-to-consumer communication channel we observed higher ROI on promotional marketing and better data-driven decisions.”

Moreover, Verofax empowers brands with refreshingly new consumer insight from point of purchase through modality of engagement and the entire customer life-cycle. By leveraging this invaluable, previously unreachable data, brands can deliver exceptional marketing strategies, customer experiences, focus on building unwavering loyalty, and achieving unparalleled commercial success.

“We are incredibly proud to have achieved AWS Full Technical Review (FTR) status, which further solidifies Verofax’ position as a leading provider of martech solutions. Collaborating with AWS has been instrumental in our journey, and this approval underscores the exceptional capabilities and performance of our software services. Together with AWS, we look forward to delivering unparalleled benefits to our enterprise clients by increasing Marketing ROI, enhancing customer satisfaction, and turning operations data-driven in real-time,” said Wassim Merheby, CEO of Verofax.

Amazon’s comprehensive FTR approval involves a rigorous assessment of Verofax’ (AWS) architecture, infrastructure and software usability, helping to prove why Verofax is the partner of choice for unlocking revolutionary marketing potential, achieving unmatched cost optimization, and delivering exceptional and unique customer experiences.

Verofax on Amazon’s AWS Marketplace:
https://aws.amazon.com/marketplace/seller-profile?id=3f648a7a-3bfe-485d-8e1d-8c967f3f2e4b

About Verofax
Verofax is the leader in product digitization, providing innovative solutions that empower brands, retailers, and governments to secure supply chains and transform customer engagement. Utilizing latest technologies such as blockchain and AI, Verofax offers a comprehensive suite of tools, immersive omni-channel consumer engagement and compliance validation. By leveraging the Verofax solution, brands can ensure supply chains are compliant and sustainable and customers are engaged through every step of the product lifecycle. Please visit www.verofax.com.

Instagram: https://www.instagram.com/verofaxltd/
YouTube: https://www.youtube.com/@verofaxlimited8482
Promo Video: https://youtu.be/tmekYUuRDjI
FaceBook: https://www.facebook.com/verofax
TikTok: https://www.tiktok.com/@verofaxlimited
Twitter: https://twitter.com/VEROFAXLTD
LinkedIn: https://www.linkedin.com/company/verofax-limited/

For more information:
Rhea Sherring, Verofax
Head of Martech Solutions
Email: rhea@verofax.com

AWS Approves And Lists Verofax Martech Solution For Brands & Retail On Global Marketplace

Verofax, an award-winning Brand & Retail Martech service provider, achieved Full Technical Review (FTR) approval on Amazon Web Services (AWS) marketplace. Verofax services are now available for direct acquisition by retail and for global brands, leveraging the unparalleled capabilities of AWS.

Verofax specializes in brand-customer direct engagement by transforming products into powerful marketing tools. With patented technologies such as computer vision, Artificial Intelligence (AI), and product digitization, Verofax enables brands to seamlessly connect directly to customers and access real-time first-party customer data to offer personalized brand experiences. The result? brands are able to reduce their cost of customer acquisition, and increase promotional marketing ROI (conversion rate) and brand loyalty (NPS).

With the AWS FTR approval, Verofax’s advanced solutions have received the seal of validation and endorsement from AWS Solutions Architects. This recognition showcases Verofax’s commitment to delivering exceptional performance, security, and scalability for brands worldwide.

Verofax’s solutions go beyond traditional marketing. By assigning a unique web link to each product, Verofax’s technology becomes a powerful tool for product traceability and counterfeit management. This added advantage brings significant value to brands, safeguarding their reputation and enhancing customer loyalty in their offerings.

Brands that choose to work with Verofax benefit from a range of advantages. By leveraging Verofax’s solution, brands can circumvent traditional marketing channels and elevate customer acquisition rates by up to 60% while reducing costs of customer acquisition by an impressive 20-fold, when compared to online Ads. Verofax has successfully partnered with renowned Fortune 100 brands, including industry giants like Budweiser & Corona, to power global marketing campaigns and create frictionless direct-to-consumer experiences.

Rodrigo Cabaleiro, Global Director of Premium Brands, AB InBev said, “Verofax solution for interactive packaging improved acquisition and engagement during our FIFA World Cup promotion. By turning our products into a direct-to-consumer communication channel we observed higher ROI on promotional marketing and better data-driven decisions.”

Moreover, Verofax empowers brands with real-time consumer insights, enabling data-driven decision-making and personalized marketing strategies in real-time. By leveraging this invaluable data, brands can deliver exceptional customer experiences, build unwavering loyalty, and achieve unparalleled commercial success.

Verofax’s achievement of AWS Full Technical Review approval demonstrates its dedication to excellence and its ability to deliver top-tier software services. By partnering with Verofax, brands can unleash the full potential of their marketing efforts, accessing real-time consumer insights, driving customer engagement, and transforming their products into powerful marketing tools.

One of the key benefits of Verofax’s AWS FTR approval is the assurance it provides to brands seeking exceptional software services. The rigorous FTR process involved a comprehensive assessment of Verofax’s AWS infrastructure, architecture, and adherence to best practices. By achieving this status, Verofax demonstrates its ability to deliver superior solutions, ensuring optimal performance and security for its clients.

“We are incredibly proud to have achieved AWS Full Technical Review (FTR) status, which further solidifies Verofax’s position as a leading provider of martech solutions. Collaborating with AWS has been instrumental in our journey, and this approval underscores the exceptional capabilities and performance of our software services. Together with AWS, we look forward to delivering unparalleled benefits to our enterprise clients by increasing Marketing ROI, enhancing customer satisfaction, and turning operations data-driven in real-time. — Wassim Merheby, CEO of Verofax.

Experience the transformative power of Verofax’s solutions and join the ranks of global brands revolutionizing customer engagement. Discover why Verofax is the partner of choice for unlocking unparalleled marketing potential, achieving remarkable cost savings, and delivering exceptional customer experiences.

Verofax to raise US$750,000 on Beban Crowdfunding Platform

  • Offering GCC retail investors interactive access to private equity investment opportunities

Verofax, the leader in brand marketing and AI-powered solutions for enterprise, was featured on Beban 2 (Episode 9, Mar 1, 2023), the hit entrepreneur & investment-themed reality TV program airing on Bahrain TV, Alrai TV and Dubai TV, as well as Shahid, the region’s largest video-on-demand platform.

Wassim Merheby, CEO & Co-Founder, and Jamil Zablah, CMO & Co-Founder, Veromax, a product winning SaaS provider helping brands achieve growth by turning offline products interactive for immersive experiences & engagements.
One of the four Professional Investors to be pitched during episode 9, Khalid Almahfouz was clearly impressed with the Verofax story, encouraging them. “I can tell that we will celebrate Verofax as a Unicorn one day.”
Beban Crowdfunding platform, for entrepreneurs to pitch retail investors. Wassim Merheby, Verofax CEO & entrepreneur, addressing Crowdfunding investors across the GCC, “We would like to become a leading tech company that started in the Middle East.”
Verofax, winning award for ground-breaking Artificial Intelligence at LEAP Saudi Arabia (Feb 2023), announced setting-up in Ryadh, key 2023 growth market, with Saudi (MCIT) Tech Champions, a soft-landing accelerator powered by Plug and Play.

Beban is the world’s first TV show to provide an interactive crowdfunding element – Beban Crowdfunding, a secure platform licensed and regulated by the Central Bank of Bahrain which offers retail and accredited investors a unique interactive access to private equity investment opportunities, such as Verofax.

GCC investors can participate in Verofax’ US$750,000 fundraising round through the Beban Crowdfunding platform, with investments beginning as reasonably as $100. The new investors will be joining leading VC investors including 500 Startups, Dubai Angel Investors, Dubai Silicon Oasis, Benson Oak Ventures, Privity FZ LLE and Wami Capital.

An alumnus of government-sponsored programs MBRIF (Mohammed Bin Rashid Innovation Fund & Accelerator) and Hub71, the UAE-based Verofax is a growth-stage startup serving a diverse clientele including Fortune 100 brands and sustainable enterprise through operations in Europe, North America, Asia, Africa and the Middle East.

Verofax recently won the award for ground-breaking use of Artificial Intelligence at LEAP Saudi Arabia (Feb, 2023), and announced the setting-up of operations in Ryadh, a key growth market for 2023, with the Saudi Ministry of Communications and Information Technology (MCIT) Tech Champions, a soft-landing accelerator powered by Plug and Play.

Wassim Merheby, CEO of Verofax, said “Participating in the Beban program provided us with a platform to showcase our technology, and through the Beban Crowdfunding Platform, to offer retail investors an opportunity to invest in our solutions which disrupt online marketing, and deliver unmatched results to customers and amazing experiences to end consumers.

“Investors in Verofax will benefit from the potential disruption to online marketing, and turning the products into a brand’s best marketing channel. At Verofax, our aim is to empower brands to connect with their customers in new and innovative ways,” said Merheby.

Fatima Al Naqbi, Chief Innovation Officer at the Ministry of Finance and MBRIF representative, said: “We are thrilled to see such progress at Verofax, a company that we have proudly supported throughout its growth journey. Moreover, it’s exciting to offer retail investors the chance to share in the growth of a dynamic company, transforming the online marketing industry through its innovative solutions.

“MBRIF is committed to accelerating innovation by providing startups with the necessary resources to achieve the goals of expansion and growth. Through our Accelerator program, we offer tailored support, paving the way for these companies to succeed. Our role in Verofax’ journey is testament to our unwavering support of innovative and ambitious companies as they strive to impact the community. We look forward to continuing our support,” said Ms Al Naqbi.

Verofax has developed a proprietary, patented AI-powered product winning service that provides enterprises with increased supply chain transparency, reduced operational cost, and enhanced customer engagement. By leveraging Verofax’ award-winning, scalable technology with low-cost rapid deployment, businesses can begin to accrue benefits immediately with:

* MarTech solutions: Turning every product into an interactive direct communication channel to consumers, allowing brands to acquire and retain customers by providing relevant and personalized recommendations. By simply scanning unique identities on primary packaging, brands can convert the 60% of consumers that decide on a purchase in multi-branded stores while lowering acquisition costs by 20X vs. online marketing channels.

* Web3 rewards: helping brands to build lasting relationships with consumers and increase Customer Lifetime Values (CLTV) by adopting Web3 rewards such as brand NFTs that cost a fraction of loyalty programs.

* Retail and eCommerce virtualization: Delivering immersive and personalized shopping experiences with in-store Augmented Reality and 3D shopping experiences in e-commerce marketplaces, offering delight to 83% of consumers that expect an upgraded shopping experience vs. the current flick & click experience.

* Supply Chain transparency: providing brands with end-to-end inventory traceability to optimize availability and prevent price dilution. Counterfeiting and product diversion eats up to 30% of some industries, damaging brands’ reputations and posing severe threats to public health.

* Sustainable passporting: Helping brands become sustainable by measuring and certifying their products across complex multi-tiered supply chains and engaging directly with consumers for loyalty and advocacy.

Verofax’ solution is validated and available on partner platforms, including Oracle, Microsoft, Ant Group, Zebra, SAP and AWS. Discover the benefits of partnering with Verofax at www.verofax.com.

Investors interested in learning more about the fundraise and participating in Verofax’ journey through the Beban Crowdfunding platform should visit the Beban website at www.beban.me, and refer to the Verofax crowdfunding page at www.beban.me/campaign/verofax-.

Contact Verofax, and register for social updates:
Website: https://verofax.com/contact-us/
Instagram: https://www.instagram.com/verofaxltd/
YouTube: https://www.youtube.com/@verofaxlimited8482
Promo Video: https://youtu.be/tmekYUuRDjI
FaceBook: https://www.facebook.com/verofax
TikTok: https://www.tiktok.com/@verofaxlimited
Twitter: https://twitter.com/VEROFAXLTD
LinkedIn: https://www.linkedin.com/company/verofax-limited/

About Verofax
Verofax is the leader in product digitization, providing innovative solutions that empower brands, retailers, and governments to secure supply chains and transform customer engagement. Utilizing latest technologies such as blockchain and AI, Verofax offers a comprehensive suite of tools, immersive omni-channel consumer engagement and compliance validation. By leveraging the Verofax solution, brands can ensure supply chains are compliant and sustainable and customers are engaged through every step of the product lifecycle. Please visit www.verofax.com.

About MBRIF Accelerator
The MBRIF Innovation Accelerator program focuses on innovation and cooperation and provides world-class services and training to founders to accelerate their business, raise capabilities and expertise, boost standards, and create added value. Its objectives are in line with the Dubai National Innovation Strategy as it aims to help innovative companies realize their potential and contribute to shaping the future of the national economy. Visit www.mbrif.ae.

For additional information, visit:
CB Insights: https://www.cbinsights.com/company/verofax
CrunchBase: https://www.crunchbase.com/organization/dhonor
StartUp Buffer: https://startupbuffer.com/startup/verofax-limited