WeVR Receives $25M to Launch YouTube of Virtual Reality

Published by , February 15, 2016 1:20 am

(Fortune) WeVR has raised over $25 million from strategic investors to help build Transport, what some are seeing as the YouTube of virtual reality. Content for Transport–currently in private beta–will be accessible online via app to owners of any headset, including Google Cardboard, Samsung Gear VR, HTC Vive, Facebook’s Oculus Rift, and Sony’s PlayStation VR. WeVR is building out the Transport technology, which includes the app, the cloud service to store the content, and the engine to create virtual reality content.  NOTE:  Tony Parisi, VP or Platform Technologies for WeVR will be keynoting at Virtual Reality Summit in New York City on April 11.
The company is also working with independent virtual reality filmmakers and established a $1 million virtual reality fund last year as part of this initiative. Four Wevr experiences were selected for the 2016 Sundance Film Festival’s exhibit this year: Waves, Irrational Exuberance, Hard World for Small Things, and theBlue: Encounter, which it developed with Valve for HTC Vive.

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