QuarkXR Receives Funding From NGI to Bring Cloud XR Closer to Mass Market

June 30, 2021

Our CEO Krasimir Nikolov received a grant from the EU Commission to cooperate with US partners on creating a Cloud XR platform for the mass market.

The idea of Cloud XR, i.e. leveraging the Compute power of the Cloud to deliver high-fidelity, photo-realistic graphics to mobile XR devices, has been a hot topic in recent years. With advancements in Cloud technologies like QuarkXR, as well as wider availability of Edge computing and 5G, Cloud XR is getting closer to mass-market. There is still a long way to go however, and creating an ecosystem of developers, tools, SDK, and compelling content for the Cloud is a huge task. At the same time, XR is a completely new medium, which is meant to bring a more human touch to Personal Computing and the Internet. QuarkXR's goals have always been to create a Cloud XR Platform which respects the fundamental values of privacy, participation and diversity. This brings us to the topic of NGI (Next Generation Internet), a European initiative for a Human Internet, with XR, 5G, and Edge Computing being important focal points.

We are very happy to announce that NGI and the European Commission are supporting QuarkXR in our efforts to bring Cloud XR to a mass market. The NGI Explorers program fosters cooperation between European and US companies, universities, and researchers. It brings the opportunity to connect with a flourishing community of innovators with different backgrounds and the potential to become drivers of change for the Next Generation of Internet, and consequently - XR. The selection of QuarkXR, and our CEO Krasimir Nikolov, is a great sign for the huge impact that Cloud XR can have on the XR industry as a whole.

As part of the NGI program, we are collaborating with Orange Silicon Valley - a US subsidiary of Orange, one of the world’s leading telecommunications operators, serving more than 253 million customers across 27 countries. OSV has created a thriving ecosystem for cooperation with Silicon Valley startups. With its 5G, Edge Compute, and vGPU lab, OSV is fully equipped for the next wave of innovation in Cloud XR.

We will be sharing the progress of our cooperation with OSV and NGI in the following months, so stay tuned for further updates.

Investors in QuarkXR Inc. are New Vision 3 Fund and Vitosha Venture Partners Fund I KD, which are co-financed by the European Structural and Investment Funds under the Operational Programme for Innovation and Competitiveness 2014-2020 managed by the Fund of Funds in Bulgaria