holoride, the Munich-based in-car media provider has closed the first round of their Series A raise to the tune of €10 million, with a €30 million valuation now placed on the Entertainment, Gaming, and Content SXSW Pitch 2021 winners.
The round was led by Terranet, developers of advanced driver-assistance software (ADAS) and saw the participation of a syndicate of Chinese financial and automotive technology investors including Multi-Dimensional Connectivity, an Aston Martin shareholder. Rounding out the investment group is Schell Games, a shareholder in Audi.
As part of the deal Terranet “will work with holoride to enhance the real-time, in-car XR experience by incorporating aspects of its versatile sensor tech software to ensure precision, speed, and intelligence as vehicles move safely and quickly through their environments.”
And in a cross-pollination move, Terranet CEO Pär-Olof Johannesson will join holoride’s advisory board while “Terranet’s Chairman of the Nomination Committee has also undertaken to ensure that [holoride CEO Nils] Wollny is elected to the company’s board.”
“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,” comments holoride CEO Nils Wollny.
Founded in 2018 by Daniel Profendiner, Marcus Kühne, Nils Wollny, and Audi (a minority stakeholder) holoride harnesses real-time data points from a traveling vehicle and integrates them into a virtual reality experience for passengers.
“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 Audi’s Sven Schuwirth. “That perfectly fits to the Audi strategy to extend our digital ecosystem as well as our ambition to offer our customers the best experience.”