Tetavi Closes Venture $20 M Round with Insight Partners
LOS ANGELES, Aug. 10, 2021 /PRNewswire/ -- Tetavi, a world-leading volumetric technology platform, announced today it has closed its latest venture round led by New York-based global private equity and venture capital firm Insight Partners, with participation from OurCrowd, Nimble Ventures and additional private investors.
The investment will enable Tetavi to significantly increase its presence in North America, expanding its partnerships and immersive content platform across the U.S. with specific locations in Los Angeles and New York. Tetavi's Los Angeles studio location will function as a collaborative space for the entertainment industry. The New York location will assist in business development and market outreach.
Tetavi CEO Gilad Talmon stated, "We're excited to welcome Insight Partners as a collaborative force in our journey to democratize personalized immersive content creation for the Metaverse. With the support of our additional new and existing partners, we plan to move forward with our expansion plans to build a new platform to bring high-end immersive content to consumers worldwide. By opening this social entertainment technology to anyone, for anyone, anywhere, Tetavi seeks to empower the next dimension of creativity and human connection."
On the partnership with Tetavi, Jeff Horing, Managing Director at Insight Partners, notes: "Tetavi's highly technical team and advancements in social entertainment technology make the company well positioned to create a market-leading consumer centric volumetric video software solution, unlocking endless applications across gaming, entertainment, fashion, and more. As the company continues to expand in North America and APAC, we're looking forward to our partnership in their next stage of growth."
John Medved from OurCrowd states: "OurCrowd prides itself on investing in, and helping nurture startups and companies that have real application in multiple vertical markets. Tetavi are very literally helping build the metaverse in which many of these markets will exist. The virtual reality that we find is more and more real under the restrictions of living in a pandemic are helping companies reenvision how they engage with their customers, and generate content. Seeing a fund like Insight come on board is true testament to the importance and potential impact of this exciting technology."
Tetavi is disrupting the immersive content market and is currently in advanced discussions with major creative artists and production companies for projects anticipated to release in 2022.
Founded by Dr. Miky Tamir and Micha Birnboim in 2016, Tetavi is working on highly reproducible hologram creation technology for immersive media, games and virtual content with the aim of completing and popularizing ideal volumetric video capture. The company has offices in Tel Aviv, New York, Los Angeles and Tokyo.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
Since its inception in 2013, the investment platform OurCrowd has raised $1.8 billion in investment committed across 250 portfolio companies and 27 funds, recording 46 exits, as well as the NASDAQ launches of Beyond Meat and Lemonade, and a number of high profile acquisitions including, Jump Bike by Uber, Briefcam By Canon, Argus by Continental, Crosswise by Oracle, Replay by Intel, Corephotonics by Samsung, and CyberX by Microsoft. Today, OurCrowd's investment platform has 93,500 qualified investors from 195 countries, including: hundreds of venture capital funds, hundreds of multinational companies and thousands of private investors.