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.
Munich-based VR startup Holoride has raised ten million euros in its Series A funding round. Leading the round is Terranet, a Swedish auto 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 Holoride's shares. Also given money have the largest U.S. game developer for educational and entertainment content, Schell Games, and the previous investor Audi completed.
The start-up wants to use VR to develop a new driving experience in computer games. To do so, it combines real-time vehicle data with the games. The technology is expected to provide a "completely new and unique driving experience for passengers," according to a company statement. "This cooperation enables Terranet to expand our addressable market while gaining access to the leading car manufacturers that will offer Holoride," Terranet CEO Pär-Olof Johannesson said.
The start-up plans to use the money to expand its team and push ahead with internationalization in the coming year. "We are very excited to have forward-looking automotive technology and world-class content development represented in our new, expanded investor base - as well as our company's focus markets with strong partners from Europe, China and the US," says Nils Wollny, CEO and co-founder of Holoride.
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