VR streaming on the rise.
Condense, a metaverse company based in Bristol England which creates technology to allow the streaming of events in virtual reality has just raised $4.5M to increase adoption of its technology. The seed round was led by Localglobe , 7percent Ventures, adn Deeptech Labs.
The team announced the funding which will broaden the company’s relationships with artists, labels, content creators, and other metaverse platforms. The team proposes its service as “infrastructure as a service” which means providing transmissions services which are charged by time and returns 3D data that would allow any metaverse that utilizes technology such as Unity or Unreal Engine to display real-world venues as they are in reality. Simply put a user could enjoy an event as if they were actually in the venue or stadium, this was referred to as “Video 3.0”.
This funding comes after an initial round of funding that netted the company $820,000 in a seed round that was led by SFC capital.
The CEO of Condense , Nick Fellingham made the announcement and spoke on intentions of building a metaverse video study in Bristol.
“The Bristol scene has log been a world-renowned melting pot of different cultures and music and, in the last few years, its become a hub for games development too. Now we are 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 company seeks to be the the main gateway to virtual events such as concerts, boxing events, plays, movie premiers and more.