Dubai’s rising tech firm, Cultos Global, has announced a significant boost in its ongoing funding round, securing a strategic investment from a consortium of high-profile industry figures. While the exact amount of the investment remains undisclosed, the infusion of capital is poised to fast-track Cultos Global’s aggressive expansion plans, particularly focusing on the United Arab Emirates (UAE) and India.
The fundraising round saw substantial contributions from notable investors, including Sameer Mehta, the Founder and CEO of boAt Lifestyle, an Indian consumer electronics unicorn. Joining him were other distinguished investors like Tarun Katial, the media tech pioneer and Founder and CEO of Coto, and Ashwath Bhat, Finance Head at Fractal Analytics. Adding gravitas to this investment lineup, Vijay Ratnaparkhe, a software industry veteran and the Head of Bosch Southeast Asia, also committed to the round and will lend his expertise by joining the advisory board.
In addition to the new investors, Cultos Global continues to enjoy steadfast support from its existing stakeholder base, including a number of investors based in San Francisco, a globally recognized hub for technology and innovation. This broad spectrum of investment highlights the faith and confidence that the industry has in the startup’s vision and capabilities.
The newly acquired funds will serve a dual purpose. First, they will augment Cultos Global’s already thriving Product and Engineering departments, enabling them to scale operations more seamlessly in the UAE and India. Secondly, the investment will be channeled into the development of a range of groundbreaking functionalities on the Cultos Global platform. These new features are expected to revolutionize how brands interact with their consumers, leveraging the potential of web3 technologies to create more secure, transparent, and efficient experiences.
The impact of the funding will be particularly palpable in the engineering and product development sectors of the company. “The investment will help us attract top talent and accelerate our roadmap for delivering a suite of innovative solutions that can redefine customer engagement,” said a spokesperson for Cultos Global. By focusing on the UAE and India—two rapidly growing tech markets—the company aims to tap into an extensive talent pool and engage with a diverse set of consumers to test and refine their pioneering solutions.
The involvement of esteemed investors, like Sameer Mehta and Tarun Katial, who bring their wealth of knowledge and networks in the Indian tech ecosystem, is a boon for Cultos Global. Likewise, the inclusion of Ashwath Bhat adds financial acumen to the mix, ensuring that the startup remains on a strong fiscal footing. With Vijay Ratnaparkhe on the advisory board, Cultos Global can benefit from decades of software industry experience, which can be invaluable in navigating the challenges and opportunities in the Southeast Asian market.
The investment round signifies more than just financial backing; it serves as a testament to the validity and promise of Cultos Global’s web3 solutions. With its multi-disciplinary advisory board and strong financial backers, the company is well-positioned to bring about transformative changes in the way brands and consumers interact in the digital space.
As the company sets its sights on future milestones, the completion of this successful funding round marks a pivotal moment for Cultos Global. The additional resources will not only allow the firm to broaden its geographic footprint but also enable it to forge ahead in its quest to redefine the boundaries of customer engagement in an increasingly digital world.