Holoride is building an immersive in-vehicle media platform that is able to connect virtual reality and other immersive content to vehicle data points in real time
➨ The funding round values holoride at €30 million
➨ The company will invest in recruitment, content and international expansion, ahead of a 2022 launch
➨ As part of the deal, holoride will integrate aspects of Terranet VoxelFlow
Holoride, the Audi spinoff bringing virtual reality and other immersive content to the in-car experience, has closed a series A funding round worth €10 million.
The funding round values the company at €30 million and enables it to invest in recruitment, expand its offering for content creators, and strengthen its international position as it prepares for market launch next year.
Terranet, a developer of advanced driver-assistance software (ADAS) that specifically addresses safety and comfort, led the funding round with a €3.2 million investment in exchange for a 10.84% stake in the Germany-based company, which spun off from automotive manufacturer Audi, also a shareholder.
Other participants in this funding round include a group of Chinese financial and automotive technology investors, and Schell Games, an educational and entertainment game development company based in the US.
Commenting on the funding round, Nils Wollny, chief executive officer 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 US.”
Holoride is building an immersive in-vehicle media platform. It is able to connect virtual reality and other immersive content to vehicle data points such as acceleration and steering, as well as traffic data and travel route, in real time. The company also claims its technology significantly reduces motion sickness.
The company is focusing on entertainment, educational, mindfulness and similar content for in-car experiences. So far, it has partnered with the likes of Disney and Universal Pictures, along with automotive manufacturers, to demonstrate its technology.
‘Significantly enhance the holoride experience’
As part of its investment, Terranet, whose VoxelFlow was originally designed to address safety concerns for ADAS vehicles, will work with holoride to enhance the real-time, in-car immersive experience by incorporating aspects of its sensor tech software to ensure precision, speed, and intelligence as vehicles move safely and quickly through their environments.
Wollny comments: “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, chief executive officer of Terranet, adds: “Ever since we met holoride and Nils Wollny at its launch and joint demo with Disney and Audi during CES 2019, we’ve known there’s great opportunity to collaborate on joint campaigns and product rollouts.”
“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 revolutionise 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.”