Terranet Receives Purchase Order From holoride
Lund, Sweden, Aug 3, 2021 – Terranet AB (Terranet/the Company), (Nasdaq: TERRNT-B.ST), developers of automotive safety technologies including VoxelFlow™, have received a purchase order from holoride in the amount of 160,000 EUR.
The project is part of an engineering service offering by Terranet on the impact of cellular localization for holoride’s in-car entertainment user experience.
holoride is building the world’s first immersive in-vehicle media platform by enabling the processing of motion and location-based data in real-time. Its vehicle localization and high precision positioning software adapts the content to reflect the motion and location of the moving vehicle, extending the passengers’ reality and creating a radically improved, hyper immersive in-car experience.
By processing motion and location-based data in real-time, holoride facilitates the creation of content that adjusts to environment and route, and as a result, is perfectly in sync with the passenger’s journey. Adding cellular localization to the tech stack holds further opportunities for more use cases in the future.
“This deal is a continuation of our collaboration following Terranet’s investment in holoride to explore joint opportunities to design and develop new features across our respective portfolios.” said Terranet CEO, Pär-Olof Johannesson. “Staying focused on its life saving vision within active safety, for Terranet this initiative expands our value-add offering also into the space of comfort and in-car entertainment.”
Terranet led holoride’s recent Series A to fund their innovative, in-vehicle experiences launching in 2022. Terranet continues to work to explore new opportunities to provide the mobility sector with innovative solutions for both navigation systems and in-vehicle entertainment.
About Terranet
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 Sweden’s rich history of bringing innovative safety measures to the automobile industry, Terranet is pioneering breakthrough safety technology for the ADAS and AV industries with offices in Lund, Sweden and Stuttgart, Germany. Terranet AB (publ) is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST). https://terranet.se/en/
VoxelFlow™ is a patented technology that could redefine safety on the roads. Watch the latest revolutionary test results for the technology here.
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For more information please contact:
Marketing Contact
Michaela Berglund – VP Marketing
michaela.berglund@terranet.se
+46 723 388 288
Media Contact
Sam Aurilia
FischTank PR
terranet@fischtankpr.com
Appointed Certified Adviser to Terranet AB is Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se
Important information: This information is such that Terranet AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The information was made public by the Company’s contact person above on August 3rd, 2021 at 8.00 AM CET.
About holoride
German startup holoride creates an entirely new media category for passengers by connecting Extended Reality (XR) content with data points from the vehicle in real time. These data points include physical feedback, like acceleration and steering, traffic data, as well as travel route and time. holoride technology provides a new type of immersion into any kind of VR content, creating a breathtaking, immersive experience, and significantly reducing motion sickness. The tech startup was founded at the end of 2018 in Munich, Germany by Nils Wollny, Marcus Kuehne, Daniel Profendiner, and Audi, who holds a minority stake in the startup. It was hailed “Best of CES” four times (Las Vegas, January 2019), recognized as one of the 100 Best Inventions of 2019 by TIME Magazine and is part of the global innovation platform “STARTUP AUTOBAHN powered by Plug and Play.” In 2021, holoride went on to win the prestigious SXSW Pitch and was also named Best in Show.
For more information, please visit www.holoride.com/
Media Contact
Kiley Ribordy
Walker Sands, for holoride
+1-312-267-0064
holoride@walkersands.com
holoride
Rudolf Baumeister
Director Marketing & Communications
rudi@holoride.com