Startup aimed at VR entertainment in cars files for insolvency
Holoride, a startup that wanted to bring Virtual Reality entertainment to cars, has filed for insolvency. CEO Nils Wollny broke the news on LinkedIn in a heartfelt post that made it clear that this was very unexpected.
Founded in 2019, Holoride envisioned backseat passengers being able to enjoy VR experiences during their trips. These experiences would be designed to take into account the movement of the vehicle for truly immersive entertainment.
According to Wollny, an investment that “appeared secure” suddenly fell apart. Wollny says these negotiations had been taking place for months and contracts had been finalized before the unfortunate news.
Founded in 2019, Holoride envisioned backseat passengers being able to enjoy VR experiences during their trips. These experiences would be designed to take into account the movement of the vehicle for truly immersive entertainment.
So, after months of negotiations, instead of celebrating holoride's next funding round to boost our new strategic direction and release new product versions, we were forced to file for insolvency.
— Nils Wollny, LinkedIn, May 2024
Wollny explains that Holoride was a bold swing at the car market. Holoride, according to Wollny, was too early and made mistakes. I guess there’s truth to this: the XR industry is still a budding market. Virtual Reality devices like the Meta Quest 3 are not nearly as common as Holoride would have needed them to be for a successful business model.
The idea, to me, seems pretty interesting. Not every car ride passes by magnificent vistas for you to marvel at. Holoride was bringing personalized games and its own custom cinema app to make boring car rides a lot more enjoyable.
The idea, to me, seems pretty interesting. Not every car ride passes by magnificent vistas for you to marvel at. Holoride was bringing personalized games and its own custom cinema app to make boring car rides a lot more enjoyable.
I'm all for it.
Insolvency doesn’t mean the company will cease to exist, however. And Wollny is optimistic that this challenge will allow the company to restart with new investors and owners. I hope so too, because this is quite the novel idea that I’d love to see get adopted en masse.
However, until then, we’ll have to make do with other amazing VR games. And if you want to do your part in helping the XR industry grow, our list of the best VR headsets in 2024 is sure to help.
However, until then, we’ll have to make do with other amazing VR games. And if you want to do your part in helping the XR industry grow, our list of the best VR headsets in 2024 is sure to help.
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