Mawari has raised USD 6.5 million in a seed financing round co-led by Blockchange Ventures and Decasonic, with participation from Abies Ventures and Accord Ventures among others.

The funding will be used to expand Mawari's R&D team and speed up the launch of its decentralized 3D and XR content delivery platform, the Mawari Network, which is based on Web3 principles and powered by the Mawari Engine.

Mawari specializes in cloud streaming technology for AR applications, with its technology enabling real-time rendering and streaming to AR glasses and smartphones through its Mawari Network which leverages machine learning, compression, and blockchain technologies.

Analyst QuickTake: The funding received by Mawari comes after a series of recent developments in the AR industry, including Google's announcement of Immersive Stream in February 2023 , the funding round received by AR glass manufacturer New Forge in the same month , and the technological breakthroughs achieved by Dispelix and VividQ in January 2023 . The increased activity in the AR space highlights the growing importance and interest in technology.