Condense, a Bristol, UK-based Metaverse company that makes technology to stream events to virtual reality applications, raised $4.5 million in its most recent seed round. The round, led by Localglobe, 7% Ventures and Deeptech Labs, provides Condense with funding to deepen its relationships with artists, labels, content creators and the Metaverse platform to make its technology more adopted by companies.
Condense raises $4.5M to deepen Metaverse streaming adoption
Condense, a Bristol, UK-based company that provides Metaverse streaming technology, announced that it has raised $4.5 million in its latest seed funding round. The funding round, reportedly led by Localglobe, 7% Ventures and Deeptech Labs, will allow the company to build deeper relationships with artists, labels, content creators and the Metaverse platform to implement its Metaverse proposals.
Condense’s proposal is considered an “infrastructure-as-a-service” business, meaning the company provides a time-based transfer service and returns 3D data that would allow any virtual world using engines like Unity or Unreal Engine to display real-world venues. is in reality. This means that any observer can enjoy the real event as if they were in the field or stadium where they were taking place. This is called “Video 3.0” by Condense.
The company was founded in 2019, boosted by the Covid-19 pandemic and the rise of virtual reality apps for remote events. After that, the company raised $820,000 in a seed round led by SFC Capital.
Metaverse Streaming Studio
Condense chief executive Nick Fellingham has announced his intention to set up a metaverse video study in Bristol. On this, he said:
Bristol has long been known around the world as a melting pot of different cultures and music, and over the past few years it has also become a hub for game development. Now we’re putting Bristol on the map again with the world’s first virtual world live studio, combining the energy of a live event with the massive scale of the virtual world.
This is another focus of the metaverse realm, which aims to transform real-world events and places into virtual ones. In the past, the company has worked on joint projects with boxing broadcast studio BT to apply its technology to these transmissions. However, the success of these technologies has been tied to the adoption of VR headsets such as Meta Quest, which Meta also uses to provide access to its flagship virtual world master app, Horizon Worlds.
What do you think of Condense and its Metaverse video streaming technology? Let us know in the comments section below.
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