Cultos Global, a web3 venture headquartered in Dubai, has successfully secured an undisclosed sum in their ongoing funding round.
The investment comes from a distinguished group of backers including Sameer Mehta, the Founder and Chief Executive Officer of India’s unicorn boAt Lifestyle; Tarun Katial, Media Tech veteran and Founder and Chief Executive Officer of web3 based social crypto community platform for women Coto; Ashwath Bhat, Finance Head at Fractal Analytics.
Vijay Ratnaparkhe, Software Industry Veteran and Head of Bosch Southeast Asia, also joins the Advisory Board along with his investment.
These prominent names join forces with a list of several San Francisco based investors and existing stakeholders that continue to support the vision of Cultos Global as they look to transform the way brands engage their customers.
These luminaries join a consortium of Bay Area investors and existing stakeholders, all aligned with Cultos Global’s vision to revolutionize brand-customer engagement.
According to the statement, the funds raised will primarily bolster the expansion of Cultos Global’s product and engineering teams across the UAE and India as well as expanding its platform development by introducing several new innovative functionalities.
“Cultos Global is reshaping brand-customer engagement by introducing an elegant, unified platform that seamlessly combines digital marketing and customer rewards programs, transforming passive consumers into a network of active nano-influencers,” said Cultos Global Co-Founder and Chief Commercial Officer Adib Samara.
Cultos Global provides brands with the tools to create their own brand token and set up their rewards systems in a matter of minutes and drive adoption from the bottom up, leading to greater efficiencies, better conversion rates and increased sales.
“Cultos Global is thrilled and excited to have industry leaders on board as we scale up in our journey to provide brands with the ability to effectively bring their rewards, loyalty and influencer marketing to Web3,
“This will give brands access to first-party data, but with advanced security and enhanced privacy for end consumers,” said Cultos Global Co-Founder and Chief Executive Officer Pavan Govindan.
“With strategic investors to support our vision, we are now even more confident in establishing Cultos Global as the preferred Web3 wallet for some of the biggest brands globally,” he added.
Tarun Katial, a staunch advocate of Web3 Technology, said that Cultos Global operates within an ecosystem that prioritizes end-user privacy while providing incentives and empowers brands to engage more effectively.
“I firmly believe that next-generation loyalty will be pivotal, and Cultos Global stands at its core with its proven web3 technology,” he said.
Cultos Global is a web3 rewards platform that allows businesses to launch branded tokens, incentivizing their customers, fans, or followers to take specific actions.
The platform also provides custodial wallets, non-fungible token (NFT) minting, and liquidity off-ramps for branded tokens through application programming interface (API) or e-commerce integrations.
Earlier this year, TATA Elxsi announced its partnership with Cultos Global to integrate blockchain mechanisms into its TETHER connected vehicle platform (TCVP), creating a driver rewards program aimed at positively influencing driver behavior and road safety through gamification and incentivization.
Cultos Global collaborates across verticals, partnering with businesses in retail, automotive, and hospitality to drive customer acquisition, engagement, and retention, thus enabling the full end-to-end customer journey.