Ten million euros for gaming start-up Holoride

The start-up from Munich has successfully completed its Series A. In addition to Audi, a Swedish automotive parts supplier is now also involved.

The VR start-up Holoride from Munich has raised ten million euros in its Series A financing round. The round is led by Terranet, a Swedish automotive parts supplier specializing in driver assistance systems. The money also comes from a consortium of Chinese investors, including Multi-Dimensional Connectivity (MDC) Limited, which also holds shares in Aston Martin. Terranet invested 3.2 million euros and now holds 10.84 percent of the Holoride shares. The largest US game developer for educational and entertainment content, Schell Games, and the previous investor Audi have also given money.

The start-up wants to use VR to develop a new driving experience in computer games. To do this, it combines real-time vehicle data with the games. The technology is intended to offer a "completely new and unique driving experience for passengers", according to a company statement. "This cooperation enables Terranet to expand our addressable market and at the same time gain access to the leading car manufacturers that will offer Holoride," says Terranet CEO Pär-Olof Johannesson.

The start-up intends to use the money to expand its team and drive forward its internationalization in the coming year. "We are very pleased that pioneering automotive technology and first-class content development are represented in our new, expanded group of investors - as well as our company's focus markets with strong partners from Europe, China and the USA," says Nils Wollny, CEO and co-founder of Holoride.