Vive VR headset maker HTC has invested $10 million in Los Angeles VR startup WEVR, which makes VR apps and a "media player" service to allow other VR developers to distribute their VR experiences to users. HTC now owns 15 percent of the company, as a result.
For its part, the company is hoping to get away from being just a smartphone maker, and VR is an important facet of that. In a recent interview with Polygon, HTC's Jeff Gattis said, "The overall goal for us is to level up the HTC brand... So when you think of HTC in, say, a year from now, you're not thinking, 'HTC is a smartphone company.' You're thinking, 'HTC is a great consumer tech company that makes VR, they make great smartphones, they make wearables.' It's really part of our diversification strategy."