Metaverse Company Condense Raises $4.5 Million in Its Recent Round

Condense, the world's first company to deliver the power, connection and immersiveness of live, real-world events into the metaverse, has raised a $4.5 million round led by LocalGlobe, 7percent Ventures and Deeptech Labs, alongside angels including a platinum-selling grime artist, former England footballer and sports presenter, Tom Blomfield (Monzo), renowned music manager Grace Ladoja MBE and Ian Hogarth (Song Kick).

Founded in Bristol in 2019, Condense is the only company in the world with the end-to-end capture and streaming technology to live stream real-world events like music and sports events into 3D applications.

The company uses cutting-edge computer vision, machine learning and proprietary streaming infrastructure to capture and embed live 3D video (Video 3.0) into any metaverse game, mobile app or platform created with Unity or Unreal Engine.

In addition to the funding announcement, the company has also opened the world's first metaverse studio in partnership with Watershed – Bristol's cultural cinema and creative technology venue - to give established artists and emerging talent access to the technology. The studio is a "metaverse-first" event space, and can also accommodate a live audience. In partnership with another organisation, a London studio will open soon followed by other studios internationally.

Condense's CEO and co-founder Nick Fellingham said:"The Bristol scene has long been a world-renowned melting pot of different cultures and music and, in the last few years, it's become a hub for games development too. Now we're going to put Bristol on the map once again with the world's first metaverse live streaming studio to bring together the energy of live events with the massive scale of the metaverse. The Video 3.0 infrastructure we've built takes out the technical complexity of streaming live into the metaverse, so people are free to put their creativity in. Video 3.0 is going to change not just how we experience live events online, but fundamentally how we engage with each other."

Source: BUSINESS WIRE