HTC invests $10m in open VR tech platform WEVR

HTC invests $10m in open VR tech platform WEVR
Craig Chapple

By Craig Chapple

July 31st 2015 at 11:36AM

Mobile firm gearing up for release of Vive headset

HTC has invested $10 million into open VR technology platform WEVR.

The deal gives HTC a 15 per cent stake in the firm, valuing it at around $66m. WEVR is described as a VR community and media player for creatives. The idea is to develop an open platform enabling creators to make and publish their projects across all VR headsets.

In May, WEVR also launched a $1m grant programme to help get virtual reality projects to market.

The move comes as HTC gets closer to launching the Vive VR headset, developed in collaboration with Valve. The hardware is currently expected to launch in November, a few months before Oculus releases its own rival headset, the Rift.

You can read about Develop's hands-on with the Vive VR headset here.