Condense has closed a £3.7 million funding round led by venture capitalists LocalGlobe, 7percent Ventures, and Deeptech Labs.

Founded in Bristol in 2019, the metaverse infrastructure company uses computer vision, machine learning and proprietary streaming infrastructure, and captures and embeds live 3D video (Video 3.0) into any metaverse game, mobile app or platform created with the graphical engines Unity or Unreal Engine.

In addition to the funding announcement, Condense has also opened what it claims to be the world's first metaverse studio in partnership with Watershed, a Bristol-based cinema and creative technology venue.

The studio is conceived as a ‘metaverse-first’ event space and will give established and emerging artists access to metaverse technology. Condense also said it has further plans with another organisation, to open a London-based studio, with international studios also planned in the near future.

Nick Fellingham, chief executive and co-founder of Condense, said, “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.”

He added: “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.”

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