Oculus VR Raises $16 Million for Virtual Reality Hardware

Oculus VR has secured $16 million in its first round of funding as the company moves towards bringing its virtual reality hardware technology to the masses. According to reports from Panodaily and AllThingsD the series A funding round was led by Spark Capital and Matrix Partners. Oculus VR began its quest for capitol seeking $5.5 million, but managed to generate a lot more due lots and lots of exposure.

Oculus VR still hasn't set a launch date for the retail release of its product but began shipping Kickstarter-funded development kits in late March. During E3 several companies announced support for the device as well as popular software offerings that would support it at launch.

Source: GII



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