Condense, a metaverse streaming technology provider situated in Bristol, England, has raised $4.5 million in its most recent seed fundraising round. According to the business, the fundraising round headed by Localglobe, 7percent Ventures, and Deeptech Labs will enable it to forge closer ties with artists, labels, content producers, and metaverse platforms to carry out its metaverse plan.
For any metaverse environment employing engines like Unity or Unreal Engine to present a real-world venue as it is in reality, Condense’s proposal is deemed an “infrastructure as a service” business. The company provides transmission services priced by time and returns 3D data.
Any observer can now take in current events as if they were in the arena or stadium where they were taking place. Condense refers to this as “Video 3.0.” The Covid-19 epidemic and the development of virtual reality apps for remote events during that time period served as catalysts for the company’s founding, which took place back in 2019. After that, SFC Capital, the company’s seed round leader, gave it $820,000.
Condense CEO Nick Fellingham declared his ambition to construct a metaverse video study in Bristol. Regarding this, he 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.”
Another area of interest in the metaverse is the conversion of physical locations and events into virtual ones. The business has previously collaborated with BT, a boxing broadcasting studio, on projects to include its technologies in these transmissions. The adoption of VR headsets like the Meta Quest, which Meta also uses to provide access to its major metaverse software, Horizon Worlds, is necessary for these technologies to succeed, though.
