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

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

@anthony256
Published Tue, Jun 18 2013 2:29 AM CDT   |   Updated Tue, Nov 3 2020 12:22 PM CST

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 | TweakTown.com

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 SOURCE:electronista.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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