Hollywood-based TetaVi USA Inc. raised $20 million in a Series A funding round toward the development of its hologram technology.  

Insight Partners, a global venture capital and private equity firm, led the round. Other investors include Nimble Ventures and venture investment platform OurCrowd.

“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,” John Medved, founder and chief executive of OurCrowd, said in a statement.

With the funding, the startup said it would grow its presence in North America, and Forbes reported, double its number of employees.

TetaVi said its Los Angeles studio will serve as a “collaborative space for the entertainment industry,” while its New York offices will serve as location for market outreach and business development.

The raised brings total funding to $35 million for TetaVi, which was founded in 2016. The company's technology is designed for use in immersive games, media and virtual content.

“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,” TetaVi Chief Executive Gilad Talmon said in a statement.

TetaVi said it is in talks with production companies and  artists for projects  to be released next year.