Condense, a metaverse company based in Bristol, England, has produced technology that allows events to be streamed into virtual reality applications, and has raised $4.5 million in its latest initial round. The round, led by Localglobe, 7percent Ventures and Deeptech Labs, is giving Condense funding to deepen its relationship with artists, labels, content creators and metaverse platforms in order for its technology to be adopted by more companies.
Condensation raises $4.5 million to deepen adoption of Metaverse flow
Condense, a Bristol, England-based company that provides streaming technology, has announce It raised $4.5 million in its most recent initial funding round. The funding round, led by Localglobe, 7percent Ventures and Deeptech Labs, is said to allow the company to develop deeper relationships with artists, labels, content creators and metaverse platforms to implement its metaverse proposal.
Condense’s proposal is considered an “infrastructure as a service,” meaning that the company offers time-driven transport services, returning 3D data that allows any metaverse to use engines like Unity or the Unreal Engine, to display a place in the real world as it really is. This means that any observer can enjoy the real events as if they were in the place or stadium in which they were being held. This is referred to as “Video 3.0” by Condense.
The company, which was founded in 2019, was spurred by the Covid-19 pandemic and the rise of virtual reality apps for remote events during that time. Subsequently, the company received $820,000 in one of its initial rounds, led by SFC Capital.
Metaverse Streaming Studio
Nick Fillingham, CEO of Condense, has announced that he intends to build a video metaverse study in Bristol. About this he said:
The Bristol scene has always been a world-famous melting pot of different cultures and music, and in the past few years, it has become a hub for game development as well. Now we’ll put Bristol on the map 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.
This is another focus in the metaverse field that seeks to transform real-world events and places into virtual worlds. In the past, the company has worked on joint ventures with BT, the boxing broadcast studio, in order to apply its technology to these transmissions. However, the success of these technologies is linked to the adoption of VR headsets such as the Meta Quest, which Meta also uses to provide access to its main metaverse app, Horizon worlds.
What do you think of Condense and its metaverse video streaming technology? Tell us in the comments section below.
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