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Oculus Rift secures $16 million for consumer production

What do you think about the new funding?
What do you think about the new funding?

The Oculus Rift has been one of the most intriguing projects as time has gone on, and with E3 just passing for the company, they revealed some major news surrounding consumer production for the platform.

In a release sent to today, Oculus has revealed that they have secured $16 million in Series A funding. This was co-led by Spark Capital and Matrix Partners, while Santo Politi and Antonio Rodriguez have joined the company's board of directors.

The newly announced funding is said to serve as something that will help speed up the consumer production of the upcoming product. Oculus is focused on making this product its own platform and seems to be nearing that goal.

Brendan Iribe, who is the CEO of Oculus VR, spoke about the recently announced news, but reminded people they still have work to do.

"What better way to mark our first anniversary than to announce our next phase of growth.

"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," Iribe said.

Oculus has made some major strides lately. The first breakthrough was the announcement that the Oculus can display gaming in HD, and now this funding provides plenty of optimism for gamers.

While there is no release date set for the consumer launch, people should continue to keep their eyes and ears out for more Oculus news.


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