Oculus Rift raises $16 million to Launch in Consumer Market

By   /   Jun 18, 2013

Oculus Rift has taken one more step towards a full fledged Consumer Launch with an announcement of new funding of $16 million.

One year ago, Oculus Rift maker Oculus VR Inc raised $2.4 million via Kickstarter.

Their Kickstarter effort was endorsed and backed by famous game developers such as Gabe Newell, John Carmack and Cliff Bleszinski. The success of the Kickstarter funding allowed Oculus VR to send their development units to several game developers.

The newly announced funding of $16 million was raised by venture capitalists Spark Capital and Matrix Partners, whose senior managers will now join the Oculus board.

What better way to mark our first anniversary than to announce our next phase of growth,” said Brendan Iribe, CEO of Oculus VR. “There are still many challenging problems to solve, but with the support of these great investment partners, and our passionate community, we will continue to hire the brightest minds and stay laser focused on delivering the very best virtual reality platform possible.

Oculus Rift is a head mounted VR gaming display technology which aims to immerse players with a 3D view and head tracking control.

Oculus began with a single mission: to put players inside the game,” said Palmer Luckey, founder of Oculus VR and inventor of the Oculus Rift. “This investment allows us to deliver immersive and affordable virtual reality to players everywhere.

The impressive immersive capabilities of Oculus Rift were on display at last week’s E3 event, where the technology was on display running Eve Online’s creator’s Dog fighting VR game.

Though no Consumer Release date has been announced yet, the Oculus VR plans to release the product into the market sometime in 2014.

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