Oculus VR Secures More Funding

by Matthew Kato on Jun 18, 2013 at 03:58 AM

VR company Oculus has secured more money to pursue its dream of bringing VR into gaming.

Venture capital firms Spark Capital and Matrix Partners, along with Founders Fund and Formation 8, have invested $16 million in a Series A funding round for the company. Series A funding is the initial round of venture capital funding, and is named after the class of preferred stock sold to the new investors by the company.

According to Oculus VR founder and Rift inventor Palmer Luckey, the funding will be used to hire more people at the company, work on new tech, and help bring the Rift platform to the public.

Here's some of our impressions of Rift at E3.


[Source: Oculus Rift via MCV]

Oculus Rift photo above is not of the finished product, which will look different.