QuarkXR secures €1.5 million for enterprise AR and VR software

QuarkXR claims its cloud-to-edge software product effectively turns "any XR headset" into a super computer.
QuarkXR secures €1.5 million for enterprise AR and VR software

Sofia-headquartered enterprise AR/VR startup QuarkXR is looking to raise €1.5 million in an ongoing round of funding that's already covered €725,000 toward that goal.

The initial €725,000 sum was provided by VC fund Vitosha Venture Partners and unnamed backers.

QuarkXR has launched an angel funding campaign on the SeedBlink angel network, in a bid to reach a first "milestone" of €875,000.

The startup wants to hitch a ride on the coming wave of enterprise XR use cases that need super powerful specs and interfaces.

QuarkXR's software product uses cloud-to-edge compute to render high-fidelity graphics and 3D modelling. It claims it effectively turns "any XR headset into a super computer".

Since it was founded six years ago, QuarkXR has signed up clients such as Deutsche Telekom, Telnet and Orange's regional subsidiaries for France and Silicon Valley.

Teaming with Orange in California represents traction in the US, home to some 135 million AR/VR users as of 2020, making it fertile ground for XR-led enterprise innovations.

Virtual reality is often used for specialised training courses - in medicine, for instance - while augmented reality can bring IT-driven context into real work environments, classrooms and lecture theatres.

Together the two technologies are known as extended reality (or XR), representing the crossover between physical and virtual worlds.

QuarkXR has earned plaudits with its product. Cited as a cloud XR "pioneer" by NVIDIA, the startup was also recently accepted into the Bosch Startup Harbour ecosystem, opening further potential to apply its XR in future-of-work, AI and IoT settings.

Krasimir Nikolov, co-founder and CEO of QuarkXR, said: "In order to further develop the potential of our technology and enter new markets, we are in the process of raising the remaining €150,000 from SeedBlink members.

"We are extremely happy to have the support of strong associates  like Vitosha Venture Partners and to have been among the approved companies to join SeedBlink."

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