Automotive technology leaders join forces as Terranet leads the two-digit investment round in Holloride worth € 1 million and forms a strategic alliance.
Munich, Germany and Lund, Sweden – April 22, 2021 Holoride, the company developing the future of in-car media and winners of the SXSW Pitch 2021, today announced that it has ramped up its Series A round, raising € 10m in its first close and earning € 30m.
The tour was led by Terranet AB, developers of advanced driver assistance programs (ADAS) who place special emphasis on safety and comfort through accurate, fast and intelligent sensor technology. Terranet has invested the equivalent of € 3.2 million in the issue of Holoride Shares, equivalent to 10.84% of the total number of shares and votes. Other investors participating in this round included a group of Chinese financial and auto technology investors, led by Jingjing Xu, an investment specialist who specializes in partnerships and market entry strategies for China. Among them is Multi-Dimensional Connectivity (MDC) Limited, a leading automotive investor and shareholder in Aston Martin. The investor tour complements Schell Games, the largest full-service educational and entertainment game development company in the United States and current shareholder Audi.
Holoride will use the capital raised to accelerate the talent acquisition process, expand its offerings to the creator community and strengthen its international profile as it prepares for the market launch next year.
“We are passionate about introducing advanced automotive technology and creating premium content in our new and expanding group of investors as well as major markets for our business with strong partners from Europe, China and the United States.” Said Niels Wolney, CEO and co-founder of holoride. “Incorporating Terranet’s capabilities to generate global vision with low latency into our technology suite can greatly enhance the holoride experience and become another step in changing in-vehicle experiences forever.”
Holoride builds the world’s first immersive vehicle multimedia platform. With real-time motion and location-based data processing, holoride enables the creation of content that adapts to the travel time and route and, as a result, is fully synced with the passenger’s journey.
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 in-vehicle real-time XR experience by integrating aspects of its versatile sensor technology program to ensure accuracy, speed and intelligence as vehicles move safely and quickly. Across their environments. Collaboration between respected class leaders opens a new avenue for Terranet’s VoxelFlow ™ technology by reusing 3D event data for XR applications, such as augmented reality (AR) and virtual reality (VR).
Terranet’s attractive investment site in the fast-growing car entertainment industry expands the VoxelFlow ™ steerable market beyond ADAS into information and entertainment. In addition to providing super-fast vehicle data points to keep occupants and pedestrians safe, VoxelFlow ™ can send these data points to smart devices that support holoride technology, reducing Terranet’s marketing time when building an XR technology subset application. This opens opportunities for Terranet to provide the automotive industry with a software suite for navigation systems and sensors as well as in-vehicle entertainment systems, expanding the brand beyond ADAS.
“Since we met Holoride, Niles, and Woolney at their launch and joint beta release with Disney and Audi during CES 2019, we knew there was a great opportunity to collaborate on joint campaigns and product launches,” He said Olof Johansson barTerranet CEO. “This collaboration allows Terranet to expand our steerable market by also reaching out to major vehicle manufacturers that will use holoride. The combination of ultra-fast 3D sensor technology with holoride gaming experiences and XR experiences will revolutionize our daily car journey, providing more Benefit experiences As a lead investor (and collaborating partner), we firmly believe in holoride as a cutting edge investment. Return on capital. ”
As part of the deal, Johansson will join the advisory board of Hollywood. Terranet’s Nomination Committee Chair has also pledged to ensure Wolney is elected to the company’s board of directors.
“With the introduction of the highly anticipated holoride product on the market and our ambition to integrate it into our cars in 2022, we are taking the driving experience to the next level and benefiting from the way we satisfy our customers.” Sven Schwerth, Audi’s Senior Vice President in Digital and Business Experience commented. “This fits perfectly with Audi’s strategy to expand our digital ecosystem and our ambition to provide the best experience for our customers.”
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German startup Holoride is creating a whole new class of media for passengers by connecting Extended Reality (XR) content to vehicle data points in real time. These data points include physical reactions, such as acceleration, steering, traffic data, path, and time. Holoride technology offers a new kind of immersion in any type of VR content, which creates an amazing and immersive experience and drastically reduces motion sickness. The tech startup was founded in late 2018 in Munich, Germany by Niels Wolney, Marcus Cohen, Daniel Provendner and Audi, who own a minority stake in the startup. It has been hailed four times as “The Best of CES” (Las Vegas, January 2019), recognized as one of the Top 100 Inventions of 2019 by TIME Magazine and is part of the global innovation platform “STARTUP AUTOBAHN Powered by Plug and Play”. In 2021, holoride won the prestigious SXSW Pitch Award and was also awarded Best in Show.
For more information, visit https://www.holoride.com/
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Terranet develops software for wireless solutions and 3D image analysis for advanced driver assistance systems and autonomous vehicles (ADAS and AV). In keeping with Scandinavia’s rich history of providing innovative safety measures for the automotive industry, Terranet is a pioneer in advanced safety technology for the ADAS and AV sectors, headquartered in Lund, Sweden, and development sites in Kiev, Ukraine and Stuttgart, Germany. Terranet Holding AB (publ) is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST). https://terranet.se/en/
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Schell Games is the largest full-service educational and entertainment game development company in the United States. Founded in 2002 by award-winning game designer and author Jesse Shell, the company boasts a highly talented group of artists, engineers, producers, and game designers. Schell Games creates interactive experiences for virtual / augmented reality, computer, mobile, console, mobile, online systems, and social systems; Entertainment on the basis of the location and attractions of the park; Connected games and virtual worlds. In addition to creating original games, the company considers clients of the most well-known brands in the world, including Walt Disney Company, Google, Facebook, Microsoft, Lego, Yale University, Yale Studios, Universal Studios, Fred Rogers Productions, the Smithsonian Institution and the Ministry. American Education.
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