Metaverse Startup Condense Nabs $4.4M To Bring Live Events into Metaverse

July 28, 2022 | 3 minutes read

Bristol-based  Metaverse startup Condense gathered funding of €4.4 million to provide audiences with an immersive experience by bringing live events into the metaverse.

Europe in recent months has emerged as the land of metaverse with many  metaverse startups sprouting from every nook and corner. Startups with their promise of providing immersive experience to their users are also gaining traction of stakeholders, users as well as investors.

For instance in this ongoing year- many startups have fetched huge investments such as Virtex, Tomorrow’s Education and Football company . Now a new startup Condense bringing the real world into the digital sphere, and doing so whilst maintaining the power, connection and immersive quality of live events has picked up funding of  $4.4M.

The startup with an aim to transform how music, sports and in person events are experienced-collected this investment in a round led by LocalGlobe. In addition to 7percent Ventures, Deeptech Labs, alongside angels including platinum selling grime artist, former England footballer and sports presenter, renowned music manager Grace Ladoja MBE known music manager and Ian Hogarth (Song Kick).

The reason the startup successfully gathered funding is because of it being on the forefront of emerging metaverse tech.  It wants to live stream real-world events like sports and music events into 3D applications and is utilizing machine learning and propriety streaming infrastructure to capture and embed live 3D video (Video 3.0) into metaverse game, platform or mobile app manufactured with Unity or Unreal Engine.

It is true that metaverse because of its aim of inclusivity and enhanced connection has established itself in the market. But on the other hand before Mark Zuckerberg adoption of  metaverse- it was not even considered a reality. Also, it is amazing to see that the industry with no physical presence  has worth  of $1.5 trillion. And is forecasted to grow at CAGR of 47.6%. However,  Morgan Stanley predicts that Metaverse is going to be an $8 trillion worth market.

Founded by  Nick Fellingham and Dan Fairs-taking the startup’s cutting edge tech to the next step will use this capital to boost and accelerate commercial relationships with artists, labels, and content creators and metaverse platforms. In short, expanding the startup’s reach and presence in the market. As of today the startup is also planning to open the metaverse studio.

Condenses CEO and co-founder Nick Fellingham describing the future plans said:

“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.”