Meet the YouTube of Virtual Reality

In a recent announcement, virtual-reality (VR) company Wevr has revealed that it has secured a new venture funding of $25 million from investors like Samsung and HTC; and that the funds will be used for developing a cross-platform VR content network.

Virtual Reality is slowly and gradually hitting its mark.

The Wevr team consists of industry experts Neville Spiteri, Scott Yara, and Anthony Batt, and they’ve already proven there’s significant interest in their efforts with an impressive $25,000,000 venture capital cash infusion.

The company is now testing out its Transport service with a number of testers, using its own content and from its investors to help give the platform a distinctive edge prior to its roll out for the public.

Today it announced it’s building a network that will feature content for Oculus Rift, Samsung’s Gear VR, HTC’s Vive, Sony’s PlayStationVR, and Google’s Cardboard-and will enable content creators to build once and have their projects work on each of those platforms.

The Transport app will be made available on each of the respective headset’s native stores, such as Google Play, and will allow creators to publish across multiple VR platforms more efficiently, its creators said. Also, projections include that consumer virtual reality technology revenue will spike from $108.8 million in 2014 to $21.8 billion globally by 2020, which is a compound annual surge of 142%.

Samsung’s Gear VR has without a doubt become the leading virtual reality device in terms of units sold. “Through our collaboration with startup KaleidoscopeVR we discovered Tyler Hurd and partnered with him on a new interactive experience that will be showcased at Tribeca Film Festival”, he added, according to Fortune. In the end, Transport will make the publishing process easier, he said. It’s going to act as a VR content network, sort of like Valve‘s Steam or perhaps YouTube, for example. He mentioned that in hardware-and-platform cycles it is important to establish brands before big competitors enter the segment.