holoride in a €10 million Series A round backed by TerraNet.

Holoride, a Munich, Germany-based software developer of the automotive industry, announced completing a Series A investing round, totalling €10 million ($12M) in first closing.

The deal, which puts value the company at €30 million, was made with investors led by the Sweden-based Terranet AB, developers of advanced driver-assistance software (ADAS) that specifically addresses safety and comfort through intelligent sensor technology.

Other co-investors in this round include a group of Chinese financial and automotive technology investors, orchestrated by Jingjing Xu, an investment professional specializing in partnerships and go-to-market strategies for China.

Amongst this syndicate is Multi-Dimensional Connectivity (MDC) Limited, an automotive investor and shareholder of Aston Martin.

The round of investors is completed with Schell Games, the largest full-service educational and entertainment game development company in the United States, and existing shareholder Audi.

As a part of the deal, Pär-Olof Johannesson, CEO of Terranet, will join holoride’s Advisory Board. Terranet's Chairman of the Nomination Committee has also undertaken to ensure that CEO Nils Wollny is elected to the company's board.

Holoride, founded in 2018 as a spioff from Audi by Daniel Profendiner, Marcus Kühne and CEO Nils Wollny, is building an immersive in-vehicle media platform. By processing motion and location-based data in real-time, holoride enables the creation of content that adjusts to travel time and route, and as a result, is perfectly in sync with the passenger’s journey.

As part of its investment, 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. The cooperation opens a new vertical for Terranet’s VoxelFlow technology by reusing 3D event data for XR applications, like augmented reality (AR) and virtual reality (VR).