September 26, 2024
Mawari Network, a decentralized physical infrastructure network (DePIN) built on Solana and specializing in spatial computing, has secured $10.8 million in a strategic funding round. The round was co-led by Anfield Ltd, Borderless Capital, and 1kx, with additional investments from Accord Ventures, Animoca Brands Japan, Blockchange Ventures, Draper Dragon, Samsung Next, and others. Angel investors such as Helium co-founder and Borderless Capital partner Sean Carey, The Tie co-founder and CEO Joshua Frank, Techstars Web3 leader Pete Townsend, and former Galaxy Digital chief information security officer Ivan Brightly also participated.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Mawari Network | $10.8M | September 26, 2024 | Strategic Funding | $17.3M | Borderless Capital, 1kx, Anfield | DePIN |
As part of the agreement, Carey has become a member of Mawari Network’s board of directors. According to Ramirez, Mawari started raising funds for the strategic round in March and concluded it last week. He mentioned that the round was organized as a simple agreement for future equity (SAFE) with token warrants. Ramirez did not disclose Mawari’s valuation.
This strategic funding round increases Mawari’s total capital raised to $17.3 million, following a $6.5 million raise in February 2023.
About Mawari Network
Mawari is a company that specializes in delivering high-quality, real-time 3D content for augmented reality (AR) and virtual reality (VR) applications. They achieve this through their advanced streaming technology, which minimizes latency and enhances interactivity. Mawari’s platform supports popular development environments like Unity and Unreal Engine, making it easier for developers to create immersive experiences. Their decentralized network, known as the Mawari Network, leverages global compute nodes to efficiently stream 3D content to various devices, including MagicLeap, Meta Quest, and Snapdragon Spaces. This innovative approach allows for scalable and flexible AR/VR applications, providing users with seamless and engaging experiences.
Website: https://www.mawari.io/
About Investor
The round was co-led by Anfield Ltd, Borderless Capital, and 1kx, with additional investments from Accord Ventures, Animoca Brands Japan, Blockchange Ventures, Draper Dragon, Samsung Next, and others. Angel investors such as Helium co-founder and Borderless Capital partner Sean Carey, The Tie co-founder and CEO Joshua Frank, Techstars Web3 leader Pete Townsend, and former Galaxy Digital chief information security officer Ivan Brightly also participated.
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