Mixed reality startup Volta awarded £400,000 grant by Innovate UK

A £400,000 grant has been awarded to mixed reality startup Volta by Innovate UK, a government agency. Volta is a self-serve XR creation platform that enables musicians, artists, and creators to create and broadcast 3D, immersive content. Volta was named One of TIME Magazine’s Best Inventions of 2021. 

The grant money will be used to research and develop audience interaction tools that can unite spectators from around the world at live events. In addition to generating a new source of revenue for artists and assisting them in engaging with their fans in ways other than emoji overlays and donations, the goal is to enable both online and offline audiences to have an impact on the actual experience of a live event in real-time. 

With audience participation being a significant component, Volta gives people a reason to watch and interact with the stream rather than just listening to it. Audience interaction not only brings fans together, but engagement boosts brand recognition.

By incorporating gaming mechanics with in-app purchases and remote user interaction into live events, Volta hopes to add value to the music industry for the long trail of artists who historically haven’t been able to make a living from their work. The grant will also help Volta create the ability for audiences to interact in a way that benefits artists of all levels. 

Additionally, it will be used to hire behavioural experts who will study the psychological effects of interactive events and the reasons why people attend concerts. 

Volta CEO, Alex Kane adds: “This money not only gives us Government funding but the opportunity to methodically learn how to translate the best parts of live events into hybridised ones”. 

Volta deployed its technology last month at the music festival Glastonbury. Its co-founder Mitchell Bayer-Goldman said: “We are trying to make an incredibly powerful creative visual tool for a market that isn’t necessarily visually artistically driven but who recognises the necessity of having visual components to their brand and performance.” 

Since its founding in 2019, the startup has acquired funding from well-known angel investors, such as Deadmau5’s Joel Zimmerman and Post Malone’s artist services firm, Electric Feel Ventures. Before a larger Series A next year, Volta wants to raise an additional $1.5 million (£1.2 million), bringing its total capital to $4 million (£3.2 million). 

Volta seems to be an enticing and innovative startup. It will revolutionise the way audiences around the world experience and participate in live events. I’m certain this startup will succeed in its venture. Best wishes to the entire Volta team. I’m sure the future has great things in store for Volta.

Shishir Gupta, Founder and CEO, StartupLanes

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