he Audi co-founded startup Holoride is developing systems to bring immersive AR and VR into everyday car travel. The company has recently announced that it has raised a €10 million Series A investment round.
Holoride initially revealed its tech at CES in 2019, showcasing its platform which integrates a car’s movement with VR content. The initial concept was that backseat passengers would be able to use the VR headset, playing games and videos which have been synced up to the car’s movement. The concept was not only fun, but it also added a comfortable experience since the movement the user is feeling is in the real world is mimicked in the digital one.
The first round of funding was led by Terranet AB, developers of advanced driver-assistance software (ADAS). Other co-investors include Multi-Dimensional Connectivity (MDC) Limited, Schell Games, Audi, and a group of Chinese financial and automotive technology investors organized by investment professional Jingjing Xu.
Holoride states that the company will be using its funding to recruit more talent and attract more content creators. They also comment that they are preparing for its international launch which Holoride hopes to be next year.
Holoride’s most recent round of funding brings the company’s estimated value to €30 million. Pär-Olof Johannesson, CEO of Terranet, will be joining Holoride’s advisory board as part of the deal.
Terranet, a creator of advanced driver-assistance systems (ADAS), says it 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.”