Oculus Rift Receives $16 Million First-Found Funding

Posted by at 6:15 pm on June 17, 2013

Oculus Rift VR Headset

Oculus VR, Inc., Oculus Rift VR headset developer, today announced that it has closed a deal for $16 million in funding. The round was co-led by Spark Capital and Matrix Partners. Santo Politi, Spark founder and general partner; and Antonio Rodriguez, entrepreneur and general partner at Matrix, have joined the company’s board of directors. The funds will be used to accelerate the development of virtual reality hardware, software and services, ultimately creating commercially available virtual reality platform.

The Oculus Rift uses an Innolux LCD panel with a Himax timing controller, while the tracker board uses an ARM Cortex-M3 microcontroller with a 72MHz CPU from STMicroelectronics, an Invensense six-axis motion tracker that combines a gyro and accelerometer, and a three-axis magnetometer. The accompanying junction box has a Realtek display interface controller, and 256KB of Winbond serial flash. A “HD” version of the headset was revealed at the 2013 E3 conference.

Oculus VR previously raised over $2.4 million through its Kickstarter campaign, nearly 10 times its fundraising goal. Developers have begun actively supporting the headset following the first round of shipping headsets from the Kickstarter.. No release date has been set for commercial release.

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