Mawari Network, a decentralized physical infrastructure network (DePIN) leveraging the Solana blockchain, has raised $10.8 million in a strategic funding round aimed at enhancing spatial computing capabilities. The funding round was co-led by Anfield Ltd, Borderless Capital, and 1kx, with additional participation from notable firms such as Accord Ventures, Animoca Brands Japan, and Samsung Next.
Angel investors, including Sean Carey, co-founder of Helium, and Joshua Frank, CEO of The Tie, have also contributed to the funding. As part of the investment agreement, Carey will join Mawari Network's board of directors. Mawari's co-founder and CEO, Luis Oscar Ramirez, mentioned that the funding round began in March and concluded last week, structured as a simple agreement for future equity (SAFE) with token warrants.
This latest funding brings Mawari's total capital raised to $17.3 million, following a previous raise of $6.5 million in February 2023.
Mawari is focused on scaling spatial computing, which integrates the physical and digital worlds through advanced technologies like augmented reality (AR), virtual reality (VR), and extended reality (XR). The term "Mawari" translates to "your surroundings" in Japanese, highlighting its mission to enhance user interaction with their environments.
Founded by Ramirez and Takeo Yatabe in 2016, Mawari addresses the challenges of data intensity and computing power in creating real-time, immersive content. The team has developed the Mawari Engine to stream interactive 3D content to XR devices, effectively shifting the processing workload from user devices to powerful cloud-based systems.
Mawari currently holds three patents related to 3D streaming technology, with eleven more pending. The network serves approximately 40 clients, including major brands like T-Mobile, Netflix, and BMW, achieving an average annual revenue of $1.5 million.
The Mawari Network is actively developing on Solana's devnet and plans to launch its mainnet in the first quarter of next year. Additionally, the network is preparing for a node license sale in the fourth quarter of this year, which will include various node types to enhance its infrastructure.
The Mawari leadership emphasizes a focus on decentralization and adequate supply for the initial launch phase.
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