Audi-backed German start-up holoride has completed its Series A investing round, collecting €10 million and earning the company a €30 million valuation. Holoride is building the world’s first immersive in-vehicle media platform.
The new capital will be used to ramp up talent acquisition, expand its offering for the content creator community and strengthen its international position as it prepares for market launch in 2021.
The round was led by Sweden’s Terranet AB, developers of advanced driver-assistance software (ADAS). The round of investors is completed with Schell Games, the largest full-service educational and entertainment game development company in the U.S. and existing shareholder Audi.
Nils Wollny, CEO and co-founder of holoride, says: “We’re excited that cutting-edge automotive technology and premium content creation are represented in our new, expanded group of investors, as well as the core markets of our business with excellent partners from Europe, China, and the U.S.. Integrating Terranet’s capabilities to generate a low latency view of the world into our tech stack can significantly enhance the holoride experience and become our next leap forward in changing in-vehicle experiences for good.”
Pär-Olof Johannesson, CEO of Terranet, adds: “This collaboration enables Terranet to expand our addressable market while also getting access to the leading automotive manufacturers that will be using holoride. Combining our ultra-fast 3D sensor technology with holoride’s gaming and XR experiences will revolutionize the everyday car trip, providing more meaningful experiences for passengers. As a key investor (and collaborating partner) we strongly believe in holoride as a superior risk-return investment.”
“With the upcoming market introduction of holoride and our ambition to integrate it in our cars in 2022, we are taking the in-car experience to the next level and leverage the way of how we are delighting our customers,” comments Sven Schuwirth, Senior Vice President Digital Experience & Business at Audi.
To read our full interview with Nils Wollny, follow the link below.