Condense Raises $4.5 Million to Bring Its Metaverse Vision to Reality
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Condense Raises $4.5 Million to Bring Its Metaverse Vision to Reality

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The Bristol-based metaverse technology specialist, Condense, has raised $4.5 million in its latest seed funding round. The funding round was led by Localglobe, 7percent Ventures, and Deeptech Labs. The company plans to use the funds to establish connections with artists, labels, content creators, and metaverse platforms and bring its metaverse vision to reality.

Condense is working on an ‘infrastructure as a service’ business for the metaverse. The company would provide transmission services charged by time and return 3D data to enable metaverse environments using engines like Unity or Unreal Engine to showcase a real-world venue as it is in reality. The technology would allow users to enjoy real events as if they were physically present at the location. Condense calls it the ‘Video 3.0’.

The company was founded back in 2019 and experienced quick success with the onset of the coronavirus pandemic as the demand for virtual reality applications saw a massive uptick. It had previously raised $820,000 in a prior seed round led by SFC Capital.

Nick Fellingham, CEO of Condense, expressed his vision of creating a metaverse video study in Bristol.

“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,” said Fellingham.

Transforming real-world events into buzzing virtual hotspots within the metaverse is a top priority for developers worldwide, with numerous applications in the arena coming up in the past year. Condense had also collaborated with a boxing broadcasting studio, BT, to explore applications of its technology for such transmissions.

Nevertheless, the success of this space is directly linked to the adoption of VR headsets like the Meta Quest, as they continue to be a significant barrier of entry for new users wanting to explore applications within the metaverse.

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