Mawari Raises $6.5 Million in Oversubscribed Seed Round To Build a Decentralized XR Streaming Network
SAN JOSE, Calif.–(BUSINESS WIRE)–Hailed “The $20 Billion CODEC” (Forbes), “The MP3 of AR” and “The Akamai of the Metaverse” (AR Insider), Mawari Corp., announces the close of a $6.5 Million oversubscribed seed round co-led by Blockchange Ventures and Decasonic, with additional investments from Abies Ventures, Accord Ventures, Anfield Ltd., Outlier Ventures, Primal Capital, and other notable investors in the space.
Mawari has pioneered in cloud rendering and XR streaming technologies since 2017. This strategic investment enables Mawari to expand its existing R&D team and to accelerate the launch of the Mawari Network: a cutting-edge, decentralized XR content delivery platform based on best Web3 principles and powered by the Mawari Engine – Mawari’s proven, proprietary, interactive real-time 3D rendering and streaming technology.
“Mawari has developed a fundamental backbone technology that delivers the highest quality augmented-reality content in the Web3 and metaverse era, significantly evolving the community environment and experience,” said Paul Hsu, Founder and CEO of Decasonic, a Web3 native venture and digital assets fund.
“The trillion dollar opportunity represented by XR will not be realized until consumer-grade content can be efficiently streamed simultaneously to large numbers of mobile devices. There is no infrastructure today that can enable this. This is what we are building.” said founder and CEO Luis Oscar Ramirez Solorzano.
The Mawari Network is the only solution to one of XR’s biggest problems that limits its mainstream adoption: delivery at scale. Mawari delivers speed, quality and light-weight 3D content through the Mawari Engine, a patent-pending 3D Streaming CODEC and split-rendering technology. Delivery at scale is achieved via a decentralized 3D content delivery platform that is powered by a network of GPU-powered nodes.
“What Mawari is building isn’t just better. It’s also faster. And cheaper.” said Ken Seiff, Managing Partner of Blockchange Ventures. “We were initially drawn to the Mawari team by their vision for leveraging decentralized compute with all the implications for spreading the technology broadly and making it more accessible to a much larger market. Then we learned from customers and partners that they were using Mawari simply because it was better. We love Mawari’s combination of forward vision and present practicality.”
“We believe our technology and decentralized approach is a major breakthrough, and will be a game-changer for the XR and Metaverse industries, redefining how immersive content is delivered.” said Aleksandr Borisov, Co-Founder & CTO of Mawari.
Mawari is the global leader in XR streaming technology, having bootstrapped since its founding in 2017 and with over 40 deployments worldwide, Mawari’s global customers and partners include 8th Wall, BMW, Ericsson, KDDI, Immersal, Niantic, Qualcomm, Sapporo Breweries and T-Mobile.
Fred Speckeen, COO