Train2Game News: Oculus raises more funds

Oculus RiftOculus VR has secured a further $75 million in investment to finalise the consumer version of its highly anticipated virtual reality head-set.

The series B round was led by Andreessen Horowitz, and featured contributions from Spark Capital, Matrix Partners and Formation 8. Marc Andreessen, founder of Netscape and the driving force behind Andreessen Horowitz, will join the Oculus VR board.

“Over the past 16 months, we’ve grown from a start-up to a company whose virtual reality headset is poised to change the way we play, work and communicate,” said Oculus VR CEO Brendan Iribe said in a statement issued to the press.

“40,000 developers and enthusiasts, as well as a number of great partners, have joined our cause and helped us bring the seemingly impossible to life. This additional infusion of capital, as well as the leadership and experience of Marc Andreessen, will help us take the final steps toward our ultimate goal: making virtual reality something consumers everywhere can enjoy.”

Andreessen stated his belief that the Oculus Rift would revolutionise not just games, but film, education, architecture and design.

“The games industry is well past the point where more pixels, texels, flops, and frames displayed on the same fixed screens are really changing the experiences that players get,” said Oculus CTO John Carmack, who joined the company full-time last month after resigning his position at id Software.

“I could say the same about other digital experiences as well. What will revolutionize gaming, and interactive content in general, is putting people inside the digital world. That is our goal at Oculus, and this Series B will help us get there,”

The size of this latest investment proves just how much faith is being placed in the Oculus Rift. In June, the company raised $16 million in its first round of funding.

Train2Game News: Oculus Rift gets huge funding

Oculus RiftOculus VR, maker of the anticipated Oculus Rift VR gaming headset, has secured $16 million in Series A funding.

The round was co-led by Spark Capital and Matrix Partners. Santo Politi, founder and general partner at Spark, and Antonio Rodriguez, serial entrepreneur and general partner at Matrix, have joined the company’s board of directors. Founders Fund as well as Formation 8 also participated in the round.

Oculus plans to use the funds to accelerate the development of its virtual reality hardware, software and services, and ultimately create a virtual reality platform for consumers.

“Oculus began with a single mission: to put players inside the game,” said Palmer Luckey, founder of Oculus VR and inventor of the Oculus Rift.

“This investment allows us to deliver immersive and affordable virtual reality to players everywhere.”

Oculus garnered lots of attention when it debut at last year’s E3. Oculus has since manufactured and shipped the Rift development kits purchased in its Kickstarter campaign, allowing game developers to create Oculus-ready applications and interactive content.

Spark Capital has previous backed other forward-thinking tech ventures, which have subsequently gained massive popularity, including Twitter and Tumblr. Matrix Partners’ achievements include early investments in some of the world’s most successful technology companies, such as Apple, SanDisk and others.

“What better way to mark our first anniversary than to announce our next phase of growth,” said Brendan Iribe, CEO of Oculus VR.

“There are still many challenging problems to solve, 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 originally raised over $2.4 million through its Kickstarter campaign – almost ten times its fundraising goal.

Development kits are currently doing the rounds, but no commercial release date has been set for the product.