holoride has completed a Series A funding round of EUR 10 million from an investment consortium led by Terranet with its EUR 3.2 million investment. At the time of the investment, holoride earned a EUR 30 million valuation, and Terranet's investment is corresponding to 10.84% of the shares in the company.
German startup holoride takes everyday journeys and transforms them into hyper-immersive experiences by combining navigational and car data with Extended Reality (XR). In 2021, holoride won the prestigious SXSW Pitch and was also awarded as Best in Show.
Terranet develops software for radio-based solutions and three-dimensional image analysis for advanced driver-assistance systems and autonomous vehicles (ADAS and AV). In line with Scandinavia’s rich history of bringing innovative safety measures to the automobile industry, Terranet is pioneering breakthrough safety technology for the ADAS and AV industries at its headquarters in Lund, Sweden and its development sites in Kyiv, Ukraine and in Stuttgart, Germany.
Baker McKenzie acted as legal advisor to Terranet in connection with its investment. The firm's team consisted of Carl Svernlöv and Peder Oxhammar from Stockholm as well as Marcus Meese, Tino Marz and Eva Kriechbaumer from Munich.