Tech content trusted by users in North America and around the world
6,515 Reviews & Articles | 43,718 News Posts
TRENDING NOW: NVIDIA GeForce GTX 980 Ti should have 6GB GDDR5, release imminent

Oculus receives $16 million in funding, Rift could see new heights

Oculus receives $16 million in first-round venture capital funding

| Business, Financial & Legal News | Posted: Jun 18, 2013 7:29 am

If there's one technology that has me positively tingling with excitement over, it's Oculus' Rift. The company announced yesterday that they have just closed a deal that will see them with a cash injection of $16 million.

 

 

The funding comes from Spark Capital and Matrix Partners with Santo Politi, Spark founder and general partner and Antonio Rodriguez, entrepreneur and general partner of Matrix, joining Oculus' board of directors. The injection of cash will help speed up the development of virtual reality hardware, software and services, which will hopefully see Oculus' Rift as a great, commercially available VR platform.

 

oculus_receives_16_million_in_funding_rift_could_see_new_heights_05

 

Considering Oculus raised $2.4 million from their Kickstarter campaign, which was close to 10 times the amount they originally needed, this $16 million should do some wonderful things for the company.

NEWS SOURCES:Electronista.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Subscribe to our Newsletter
Or Scroll Down