Oculus Rift Bags $75 Million in Funds from Netscape Founder

Who doesn’t want to take their gaming experience up another notch? Likewise, the tech industry would like to see it succeed equally; the later was evidenced by the recent bagful of funds that the Oculus Rift managed to scrape in another round of funding.

This time around the hefty amount of funds was provided by Marc Andreessen of venture capitalist Andreessen Horowitz. This is the same guy who founded Netscape – for those who don’t know him.

I see that the idea of having a head mounted virtual reality gadget is starting to settle down among the investors. This was the third time that Oculus Rift managed to take away funds in millions though the figure keeps growing larger and larger with each time.

Previously the VR tech company had bagged $2.4 million through Kickstarter and $16 million from a round of funding that included names like Spark Capital, Matrix Partners and Formation|8 among others.

Looking at how the latest installment of funds for Oculus Rift is way larger than all the previous ones combined, I think the process of development will be at its fastest now on. Oculus will be using the funds for staffing and then deliver the consumer version of the device to customers as soon as possible.

Oculus CEO Brendan Iribe venerated the investment at the GamesBeat 2013 conference:

“This additional infusion of capital, as well as the leadership and experience of Marc Andreessen, will help us take the final steps toward our ultimate goal: making virtual reality something consumers everywhere can enjoy.”

I can’t wait to see this thing come out – and succeed!

Source: VentureBeat