Condense Reality Secures £ 3.7m Seed Investment Led by LocalGlobe, 7percent Ventures and Deeptech Labs – UK Technology Investment News

Metaverse Condense Infrastructure Company Raises $ 4.5 Million and Opens World’s First Studio to Stream Live Events in the Metaverse

  • Condense technology captures and broadcasts live 3D video in games and metaverse platforms, creating completely new audience experiences
  • $ 4.5 million seed round will be used to accelerate business relationships with artists, labels, content creators and metaverse platforms
  • Today the company opens the first of an international network of streaming studios to capture and broadcast Video 3.0 live in the metaverse

Bristol, July 28, 2022 // Condense – the first company in the world to provide the power, connection and immersion of real-world live events in the metaverse – raised a $ 4.5 million round led by LocalGlobe, 7% of companies And Deeptech laboratoriesalongside angels including a platinum grime artist, former English footballer and sports presenter, Tom Blomfield (Monzo), famed music manager Grace Ladoja MBE and Ian Hogarth (Song Kick).

Founded in Bristol in 2019, Condense is the only company in the world with end-to-end capture and streaming technology for live streaming of real-world events such as music and sports events in 3D applications. The company uses state-of-the-art computer vision, machine learning, and a proprietary streaming infrastructure to capture and embed live 3D video (Video 3.0) into any game, mobile app, or metaverse platform built with Unity or Unreal Engine .

This means that realistic live performances can be streamed directly to virtual worlds and gaming platforms used by billions of people around the world, without the need for VR headsets. As events are streamed live as three-dimensional “real world” video, each player’s perspective is as unique and dynamic as if they were at a live physical event and their experience just as memorable.

In addition to the funding announcement, the company also opened the world’s first metaverse studio in partnership with Watershed, Bristol’s cultural cinema and creative technology headquarters, to offer established artists and emerging talent access to technology. The studio is a metaverse-first event space and can also host a live audience. In collaboration with another organization, a London studio will soon be opened followed by other international studios.

With Condense, broadcasting live in three dimensions in the metaverse is as natural and easy as performing in front of a conventional camera, with no need for green screens or post-production, allowing immediate connection with the audience in real time.

The Bristol-based singer and producer Grove, who was among the first artists to pioneer the Condense technology, said: “The minds behind the technology are pushing the boundaries of technology-informed performance sharing. This is great for l ‘accessibility and opens up exciting new opportunities for fans to connect with their favorite artists “

Video 3.0 offers fans completely new online experiences. The public can attend concerts or sporting events with friends, with the freedom to move through the virtual crowd and get closer to the action. Because the performances are live, fans can interact with the artist – a digital step up from holding a banner at a concert – and performers can respond in real time, shouting, answering questions or performing a requested track.

Condense harnesses the feelings of connection you experience seeing your favorite band, artist, team or sports star perform live, while introducing an unprecedented level of access, participation and inclusion never seen before, all while providing the opportunity for artists. , rights holders and metaverse platforms to create entirely new revenue streams.

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

LocalGlobe partner Ziv Reichert (recently ranked UK’s number one seed investor by Dealroom) said: “Hundreds of millions of people attend immersive 3D platforms such as Roblox, Rec Room, Fortnite, Sandbox, Decentraland and VRChat; participate in virtual events, socialize and be creative. At the same time, player demand for live entertainment within 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 imaginable audience in the stadium. ”

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 blend digital and physical. Condense has now made it possible within all video games and platforms, without the need for VR headsets. What they have built is already a reality and will change the way the whole world engages online. “

Miles Kirby, CEO of Deeptech Labs, said, “The metaverse requires a new infrastructure, largely opening new horizons 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. “

Condenses CEO and Co-Founder Nick Fellingham said, “The Bristol scene has long been a melting pot of world-renowned diverse cultures and music, and has also become a hub for game development in recent years. Now we’ll 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 huge scale of the metaverse. The Video 3.0 infrastructure we built eliminates the technical complexity of live streaming in the metaverse, so people are free to put their creativity into it. Video 3.0 will change not only the way we experience live events online, but fundamentally the way we engage together. “

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Condense Reality Secures £ 3.7m Seed Investment Led by LocalGlobe, 7percent Ventures and Deeptech Labs – UK Technology Investment News

Source link Condense Reality Secures £ 3.7m Seed Investment Led by LocalGlobe, 7percent Ventures and Deeptech Labs – UK Technology Investment News

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