Condense Reality raised $4.5 million from investors led by LocalGlobe, 7percent Ventures and Deeptech Labs.

Condense Reality, a Bristol, UK-based software development startup, completed a funding round dubbed seed and closed at $4.5 million

The money was raised from UK-based investors led by LocalGlobe, 7percent Ventures and Deeptech Labs, joined by angel investors Tom Blomfield (Monzo), music manager Grace Ladoja and Ian Hogarth (Song Kick).

Condense Reality, founded in 2019 by CEO Nick Fellingham, developed an end-to-end capture and streaming hologram-style 3D “volumetric video” (a three-dimensional image that can be viewed by multiple people from different angles) of live events alongside a normal television broadcast. The tech uses computer vision, machine learning and proprietary streaming infrastructure to capture and embed live 3D video (Video 3.0) into any metaverse game, mobile app or platform created with Unity or Unreal Engine. Use cases include entertainment and sport events complemented with the on-screen action streamed directly into the virtual worlds and games platforms without the need for VR headsets.

Prior to this round, Condense Reality raised around $1 million in grants and equity, with other investors chipping in including SFC Capital and RLC Ventures (now Concept Ventures).