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

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.

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.