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Ones To Watch 2021

Condense Reality

Condense RealityCondense Reality

Condense Reality is a Bristol based startup, formed in 2019, working at the intersection of deep tech and media. We have a vision of a future where live events are not consumed in 2d on TV's but in 3d inside virtual spaces such as Fortnite and Roblox, VR/AR headsets and mobile games. These virtual social spaces are collectively known at the Metaverse and are authored using Game Engines such as Unity and Unreal Engine.

Vision of the Metaverse

Shared experiences are central to any definition of the Metaverse. However, at present, it is not possible to broadcast live real-world events like sports games, music concerts and theatre productions into social spaces created using Game Engines.

We share Matthew Ball's vision of the Metaverse as ‘the gateway to most digital experiences’ and have created a product that allows content creators to capture and stream live events into Game Engines. This content appears as volumetric video: photorealistic 3D models that replicate the real subjects at such high fidelity that they appear to be high resolution video viewable from any angle.  

https://www.matthewball.vc/all/themetaverse

Our product is aimed at live event rights holders. Our mission is to extend their reach by broadcasting content they already own to audiences who are currently inaccessible to them.

We have gained significant traction over the last 12 months and are working with BT Research to broadcast a live boxing match volumetrically at the end of 2021. This is part of a 5GXR project that is funded by DCMS and led by BT Research. We have also caught the attention of Sony and, after a competitive selection process over a number of months, we have been invited onto their prestigious SSAP programme starting Autumn 2021. Sony has also expressed an interest in investing in Condense Reality via the Sony Innovation Fund. We share Sony’s vision for the metaverse.

https://www.linkedin.com/posts/sony-startup-acceleration-program-europe_ssap-sony-technology-activity-6801508187695579136-WUso/

We are working with CAMERA, part of Bath University, to set up a capture studio in Bristol. CAMERA will offer free access to media companies based in the South West to come into the studio to capture volumetric content to integrate into any projects they wish.

Team

12 full time staff, all with engineering, game dev and design backgrounds. 4 computer vision and machine learning PHDs. Management team has previous exit to Twitter with TV/Video related tech startup. Based in Bristol with deep links into the media/tech industry.

Growth

Our North Star metric is user minutes of volumetric content streamed into game engines. We envisage a world where rights holders of sport, music and all live events see the Metaverse as the primary place where they want their content to be viewed. By 2025 we aim to have our customers streaming 180,000,000 minutes of live content into Metaverse ‘properties’ whatever form they take.

To date we have raised approx. £900k in pre-seed funding and grants. We are looking to raise a seed round of £1.8M in summer 2021.

Being included on the CIC CreaTech One to Watch 2021 would be fantastic PR for us. It would help us raise investment and gain traction with current and future customers.

Organic press  

https://www.linkedin.com/posts/sony-startup-acceleration-program-europe_ssap-sony-technology-activity-6801508187695579136-WUso

https://www.sportspromedia.com/news/condense-reality-bt-hologram-technology-streaming-volumetric-video-boxing

https://www.beauhurst.com/blog/tech-companies-bristol/

https://business.bt.com/insights/the-future-is-now/power-of-innovative-tech/

https://www.businesswire.com/news/home/20210405005291/en/T-Mobile-Accelerator-Kicks-Off-Spring-Program-Fueling-5G-Innovation-in-Immersive-ARVR-Technologies-and-More

https://www.svgeurope.org/blog/headlines/revolutionary-viewing-3d-volumetric-video-streaming-set-to-become-reality-for-sports-fans-with-condense-reality/

https://www.techspark.co/blog/2021/01/22/10-tech-companies-set-to-make-waves-in-2021/

https://www.uktech.news/news/immersive-technology-startup-condense-reality-raises-800k-seed-round-led-by-sfc-capital-to-transform-the-experience-of-watching-live-events-20201008

https://www.techspark.co/blog/2020/08/28/5g-create-project-awards-condense-reality-and-university-of-bristol-1-5m-in-funding/

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