Condense Reality secures £3.7m seed investment led by LocalGlobe, 7percent Ventures and Deeptech Labs
The seed funding will accelerate commercial partnerships with creators and metaverse platforms.
Condense Reality develops metaverse infrastructure that captures and streams live three-dimensional video into virtual worlds and gaming platforms. The company enables real-world events to be broadcast live into digital environments without requiring virtual reality headsets.
Condense Reality has secured £3.7m in seed funding to expand its live streaming technology for virtual worlds. The investment round was led jointly by LocalGlobe, 7percent Ventures and Deeptech Labs, alongside a group of angel investors including prominent figures from the music and sports industries. The capital will be directed towards growing commercial partnerships with artists, record labels, content creators and metaverse platforms following the launch of the company's first dedicated streaming studio in Bristol.
From the founder
"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."
Nick Fellingham
CEO and co-founder at Condense Reality
Investor perspective
"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."
Ziv Reichert
Partner, LocalGlobe
Use of funds
- 01Accelerate go-to-market
Investors
Categories
About the company
Condense Reality
Condense Reality builds infrastructure to stream live real-world events into virtual environments.