Oculus VR Raises $16 Million

Posted Jun 18, 2013

At the E3 2013 event,
Oculus VR showcased a 1080p prototype of a virtual reality headset called the Oculus Rift.  It is unknown when a final version of the Oculus Rift will be released.  Oculus VR is raising a new round of funding to help them bring their product to the market.

Oculus raised over $2.4 million through Kickstarter last year.  The company has now raised another $16 million in Series A venture capital led by Spark Capital and Matrix Partners.  Spark and Matrix will have seats on the Oculus VR board of directors.

Oculus VR plans to use the funding to hire more employees, expand their company, and will focus on their goals.  Oculus VR has plans to stay independent and does not have any plans to sell.

“There are still many challenging problems to solve,” stated Oculus VR CEO Brendan Iribe. “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 VR is currently selling their 720p Oculus Rift development kit for $300.  Support for the Rift was added to Valve’s Half-Life 2.  Some of the games that are making use of the Rift includes Montas, Doom BFG Edition, Garry’s Mod, Asylum, and Skyrim.