Condense Raises $4.5 Million and Opens the First Live Metaverse Studio

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Bristol-based Condense, one of the first companies to deliver power, connection and immersive experience of live, real-world events into the metaverse recently announced that it has raised $4.5 million in an investment 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).

Grace Ladoja MBE, co-founder of METALLIC INC and renowned artist manager said: “Culture and community are what drives music forward. It’s how we connect with where we’ve come from and where we want to go. Condense’s technology is opening up a new platform for these communities and cultures, diversifying the voices in the metaverse by making it live and accessible. It’s got the potential to inspire and empower a new movement of artists and fans. This is both exciting, and significant.”

Ziv Reichert, partner at LocalGlobe (recently ranked the UK’s number one seed investor by Dealroom) said: “Hundreds of millions of people are hanging out in immersive 3D platforms like Roblox, Rec Room, Fortnite, Sandbox, Decentraland and VRChat; attending virtual events, socialising and being creative. At the same time, player demand for live entertainment inside these virtual worlds has never been greater. Condense has built the infrastructure to connect the two – now music artists, sports stars and creatives can perform and play live in the metaverse, to the largest stadium audience imaginable.”

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Andrew Gault, founding partner of 7percent ventures said: “When I invested in Oculus nearly 10 years ago, the dream was to deliver experiences that seamlessly merge the digital and the physical. Condense has now made that possible inside all video games and platforms, without the need for VR headsets. What they have built is already a reality and it’s going to change the way the whole world engages online.”

Miles Kirby, CEO of Deeptech Labs said, “The metaverse requires a new infrastructure, much of it breaking new ground and requiring next-generation machine learning and machine vision. Condense has the deeptech experience and vision to make the metaverse the number one destination for live events.”

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.”


 

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