The seed funding will accelerate commercial partnerships with creators and metaverse platforms.
"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."
The pre-seed round was provided by 7percent Ventures to support platform development.
"We are delighted to have the support of 7percent Ventures, a fund and team with an impressive track record of supporting the most innovative, futuristic and ground breaking technologies."
The seed round was led by Pi Labs with participation from Sugar Capital, 7percent Ventures and notable angel investors.
"Our vision is that every physical space will become digitally connected, enabling an entirely new type of interaction with the world around us. These 'smart spaces' will unlock rich information and transform billions of daily interactions for shoppers and retailers. Right now, the biggest players in tech are working on building next-generation augmented reality wearables, and we’re building the killer consumer use-cases for this transformative technology. In the future, providing a frictionless digital experience in a physical location will become as essential for every business as having a website is today."
The funding round was co-led by Pentech and Outward to support infrastructure development and team expansion.
"When raising capital, VCs are obliged to undertake a countless number of time-consuming, long-winded and expensive processes. This deter many prospective managers from raising a fund, and therefore prevent many founders from getting funded."
The seed round was led by Founders Fund with participation from several investors and a public grant.
"We are thrilled to back this innovative group out of the UK, there have been many attempts at small satellite propulsion innovation over the past decade, but they have been marginal improvements on pre-existing technology, Magdrive is the first step-change improvement offering the best of chemical and electric propulsion in a single system."
The funding round was backed by venture funds including 7percent Ventures alongside nearly two thousand retail investors.
"We are currently seeing a significant interest in sustainable assets. There is a positive dynamic for those companies that have green products and are well run, with the right governance,"
The seed round drew backing from a group of digital and blockchain focused venture firms, including Alameda Research and CoinFund.
"Getting our FCA regulation in place and building the exchange platform were huge first milestones for us. But we obviously also needed the funding in place to meet our regulatory capital requirements to launch. To successfully close our seed raise, and beat our target in the process, was amazing – even more so when you consider the calibre of the VCs who have invested in us."
Lunar Ventures and Techstart Ventures co-led the pre-seed round for the computer vision start-up.
"I want to thank our team for the hard work they’ve put in to get us where we are today. Like most companies, we’ve hit a rough patch at the start of the pandemic and we wouldn’t have made it without each and every individual contribution."
The Y Combinator alumni have raised £1.8m from Episode 1, Seedcamp, 7percent Ventures, Y Combinator, and Kima Ventures.
"We’re building an open source database for time series data, and time series databases are a multi-billion-dollar market because they’re central for financial services, IoT and other enterprise applications. And we basically make it easy to handle explosive amounts of data, and to reduce infrastructure costs massively,"
