The early-stage investor Odacio, as well as a total of 16 business angels, part of CEO Angels Club, financially supported the Bulgarian company, developing solutions in the field of virtual and augmented reality – QuarkVR.
QuarkVR has received a total investment of EUR 335,000 to hire additional software developers and QA testers at its Sofia office as well as sales representatives to market their products in the US. Some of the investors in the company are members of CEO Angels Club – a group of managers and entrepreneurs who invest their own funds in start-up companies, and the other big investor, Odacio, is an investment firms with a focus on start-ups as well.
QuarkVR offers a multi-platform VR development tool that allows users to build VR apps, game as well as Intugame VR, which allows users to play games in VR. The company has its own technology for copying and encoding VR and AR content, and is currently testing the application of 5G networks in the transmission of such content. According to analysts, the development of 5G networks and cloud technologies will improve the quality and connectivity of augmented and virtual reality and will thus contribute for their widespread use in industrial and consumer applications.
In the past year, QuarkVR has launched partnerships with industrial leaders such as Deutsche Telekom, Orange, NVidia, Dell and Intel and in 2017 it was selected among the eight start-ups that participated in the VIVE X accelerator organized by HTC in San Francisco, where it showcased its wireless solution.