Achievement Unlocked: Oculus Rift Funded

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

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.

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!

About the author

Corey Kirk

Gaming enthusiast. Great at many, master of none.