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HTC backs VR studio

HTC has invested $5 million in Steel Wool, a VR development studio founded by creative veterans of Pixar Animation Studios, Lucasfilm, and Telltale Games.

The company said it will use the funds to help develop multiple existing projects across games, simulation, and narrative concepts.

“The Steel Wool Studios team carries an impressive pedigree of creative talent that has already proven its ability to build cutting-edge content for the nascent VR category,” said Cher Wang, CEO, HTC Corporation.
Last month HTC announced that it would launch a virtual reality content store, called Viveport, aimed at the global community of VR developers. The rollout follows the launch this year of the Vive virtual reality headset, which was developed by HTC in partnership with Valve – a US-based video game developer and owner of the Steam games platform.

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