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UK-based Metaverse Startup Condense Raises $4.5M in Seed Round

Worldwide Adoption

Condense, a Bristol, UK-based startup that produces live-streamed volumetric video technology for the Metaverse, has just announced raising $4.5 million in a Seed round. Led by VCs Localglobe, 7percent Ventures and Deeptech Labs, the funding allows the startup to strengthen its relationship with artists, labels, content creators, and metaverse platforms for its technology to be adopted by more companies across the world.

This comes after the £800,000 Condense raised in October 2020 from another Seed funding round led by SFC Capital and RLC Ventures.

Infrastructure as a Service

Founded in 2019 by Nick Fellingham and Dan Fairs, Condense’s goal has always been to make the Metaverse the number one destination for real-world live events via its “infrastructure as a service” platform. However, realizing they can’t do this singlehandedly without the support from strategic partners — both creative and visionary in scope — the investment will assist the Bristol-based team to move the technical complexity of its IP for live events in the Metaverse forward.

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Putting Bristol on The Map

“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,” said Nick Fellingham, CEO of Condense, in an announcement on the Seed round.

While LocalGlobe partner Ziv Reichert, said:

“Demand for live entertainment inside 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.”

Having worked with BT in a DCMS-funded project to investigate the potential of 5G for immersive live sport aided with virtual and augmented reality technology, Fellingham’s vow to “put Bristol on the map” will be significantly increased now after the funding.

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James Dargan Is A Writer And Researcher At The Metaverse Insider. His Focus Is On The QC Startup Ecosystem And He Writes Articles On The Space That Have A Tone Accessible To The Average Reader.

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

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