Bulgaria's QuarkVR Attracts Fresh Funding, Plans Staff Increase
Bulgarian software developer QuarkVR said on Tuesday that it has attracted two new investments worth more than 500,000 levs (3,000/256,000 euro) in total, as it won the trust and support of local investor CEO Angels Club, reports SeeNews.
The startup's most pressing issue currently is the expansion of its team of specialists, QuarkVR said in a statement.
Among the company's main achievements in the past year have been the partnerships with Deutsche Telekom and France's Orange. QuarkVR also partners with companies such as HTC, NVidia, Dell and Intell.
QuarkVR is building out the AR/VR Cloud service for 5G and the Edge Cloud. The QuarkVR solution provides low-latency compression and wireless transmission. The company's B2B model envisages partnering with telecoms to deliver QuarkVR to other enterprises.
CEO Angels Club invests in early stage, post-accelerator startups. It typically expects companies to break-even or achieve a clear meaningful mile stone within 12-24 months of CEO Angels Club's initial investment.
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