Condense, a Bristol, England-based metaverse company that produces technology for streaming events to virtual reality applications, raised $4.5 million in its latest funding round. The round, which was led by Localglobe, 7percent Ventures and Deeptech Labs, provides funding for Condense to deepen its relationships with artists, labels, content creators and metaverse platforms so that its technology is adopted by more audiences. companies.
Condense Raises $4.5M to Deepen Metaverse Streaming Adoption
Condense, a Bristol, England-based company that offers metaverse streaming technology, has announcement it raised $4.5 million in its last seed funding round. The funding round led by Localglobe, 7percent Ventures and Deeptech Labs would 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” company, which means the company provides time-based transmission services and returns 3D data that enables any metaverse world using engines like Unity or Unreal Engine to display a real place as it really is. This means that any observer can enjoy real events as if they were in the place or stadium where they took place. This is called “Video 3.0” by Condense.
The company, which was founded in 2019, was boosted by the Covid-19 pandemic and the rise of virtual reality applications for remote events during this time. Subsequently, the company received $820,000 in one of its funding rounds, led by SFC Capital.
Metaverse Streaming Studio
Nick Fellingham, CEO of Condense, has announced plans to create a metaverse video study in Bristol. In this regard, he said:
The Bristol scene has long been a melting pot of world-renowned culture and music, and in recent years has also become a hub for game development. Now we will put Bristol back on the map 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 goal in the realm of the metaverse that seeks to transform real-world events and places into virtual worlds. In the past, the company has worked on joint projects with BT, a boxing broadcast studio, to apply its technology to such transmissions. However, the success of these technologies is linked to the adoption of VR headsets like the Meta Quest, which is also used by Meta to offer access to its flagship metaverse main application, 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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