TetaVi, developer of an industry-leading AI-based volumetric video capture technology, today announced the close of a $6 million “A” round. The funding, from new and existing investors, brings TetaVi’s total funding to $11.3 million. The funds will be used to expand TetaVi’s studio network, widen its geographic reach and advance new products that address the future of consumer volumetric video capture.
Volumetric video is a process that captures a real 3D space and can be viewed from any angle in a real (AR) or simulated (VR) environment, creating immersive and interactive realistic 3D content. While a greater number of companies are incorporating 3D content into their platforms, the video capture and development process is often slow, expensive and time-consuming.
TetaVi’s technology comes bundled as an end-to-end solution, including cameras, software-as-a-service, portable studio, post-production and training, enabling customers to quickly generate high-fidelity 3D digital holograms, for an endless array of applications.
The holograms can be used to add celebrities to games, to enhance the e-commerce experience for customers and as part of the experience on social media platforms like TikTok. Production studios using TetaVi are able to prepare immersive media, enabling accurate and portable VR, AR, and XR production 50%-70% faster than traditional methods.
Additionally, companies from a wide range of industries, including media and entertainment, telecom operators, professional sports clubs, musicians and record labels and fashion designers, are using Tetavi’s technology to enhance their respective offerings and deepen the engagement among customers and users.
“TetaVi’s technological innovations are well-timed given rapidly increasing demand for immersive and interactive applications that amplify consumer experiences with brands and content broadly,” said Aaron Stone, Angel Investor, TetaVi BOD member, and Senior Partner, Apollo Global Management. “We are excited to support the team as they accelerate their expansion and bring volumetric video to a mass audience.”
“This strategic investment will strengthen TetaVi’s relationships within APAC, an important region for spearheading the company’s advancement,” said Sean Lee, Global Business Strategy Executive Officer at ADWAYS INC. “We are witnessing immersive media, virtual entertainment and concerts becoming part of the mainstream culture and we have chosen to invest in TetaVi because of its market approach and technological progress.”
“TetaVi’s ability to sustain significant growth over the last several months has reinforced our belief that the company has truly built something unique and disruptive,” said Stephan Ibaraki, Chairman and Managing General Partner, REDDS Capital and Founder AI for Good. “We are pleased to be leading this round and look forward to working closely with the TetaVi team as it expands its global footprint.”
“We view this latest funding round, raised during a time of significant financial uncertainty, as a vote of confidence by our existing and new investors in the growth of the immersive experience market and our ability to cater to its evolving needs,” said Gilad Talmon, TetaVi’s CEO. “The funding will allow TetaVi to enhance our current capture studio offering and will enable us to add highly qualified personnel required in order to widen the scope of our volumetric video capture solutions.”
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