Web 3 service provider Verofax completes $3 million bridge financing

On August 30th, according to Assiyaq, UAE-based Web3 service provider Verofax announced the completion of a $3 million bridge financing round. The round was led by investors including King Abdullah University of Technology, Plug & Play Tech Center, Navig8 Group and Trove Capital UK. Other participants in the round include Jawa Brothers Advisory, Alzamil Pedco CVC and Tracecore CVC. In a 2022 round, Verofax raised $1.50 million in a pre-Series A round led by Benson Oak Ventures, with 500 Global, Wami Capital and Vernalis Capital also participating.