Achievement Unlocked: Oculus Rift Funded

The Oculus VR team has secured $16 million to fund the Oculus Rift.

Good news is here for fans of the upcoming virtual reality platform, Oculus Rift. It appears that the Oculus VR team, lead by founder and inventor Palmer Luckey, has secured another $16 million in a funding round which includes venture capital firms Spark Capital and Matrix Partners. According to Luckey, the funds will be used to hire more people, equipment, and help make the Rift available to consumers.

Recommended Videos

This news comes after a strong showing at E3 last week where the team displayed their newest model of the Oculus Rift, which now has a 1080p LCD screen instead of the current 720p LCD screen that is being shipped to developers and enthusiasts.  The new model also includes a smaller form factor which makes the Rift look less bulky while providing a more comfortable experience due to lighter weight.

Oculus Rift Early Prototype (does not represent final version)

Ever since the prototype for the Rift was shown at E3 2012, the buzz surrounding the VR headset has been steadily increasing, with many studios planning to support the platform when it finally hits store shelves. While no release date has been officially announced, the new funding is an indicator that a release date may arrive sooner rather than later. If you are developer or a consumer interested in the Oculus Rift, head over here to learn more.

Are you excited about the upcoming Oculus Rift?  Comment below!


GameSkinny is supported by our audience. When you purchase through links on our site, we may earn a small affiliate commission. Learn more
related content
Read Article Overwatch 2 Introduces Its First Free Hero in Season 10
Venture holding her drill and Baptise, Zarya, Pharah, and Lifeweaver standing behind her
Read Article Horror Becomes Educational by Teaching Morse Code in SOS: Forgotten Planet
A monster behind a door marked M
Read Article Pocketpair Announced the 10 Most Popular Pals in Palworld
Player looks up to Quivern in Palworld
Read Article Elder Scrolls 6 Gets an Update on the Series’ 30th Anniversary
Eleder Scrolls wizard casting green magic
Read Article This Witchy RPG Is Like Howl’s Moving Castle Brought to Life
A young witch looks to a home built on chicken legs in Reka
Related Content
Read Article Overwatch 2 Introduces Its First Free Hero in Season 10
Venture holding her drill and Baptise, Zarya, Pharah, and Lifeweaver standing behind her
Read Article Horror Becomes Educational by Teaching Morse Code in SOS: Forgotten Planet
A monster behind a door marked M
Read Article Pocketpair Announced the 10 Most Popular Pals in Palworld
Player looks up to Quivern in Palworld
Read Article Elder Scrolls 6 Gets an Update on the Series’ 30th Anniversary
Eleder Scrolls wizard casting green magic
Read Article This Witchy RPG Is Like Howl’s Moving Castle Brought to Life
A young witch looks to a home built on chicken legs in Reka
Author
Corey Kirk
Gaming enthusiast. Great at many, master of none.