OculusRift 18 Jun

According to a report by Gamespot, Oculus VR has secured $16 million in venture capital funding, with Spark Capital and Matrix Partners co-leading the investment, with additional money from Founders Fund and Formation 8.

Oculus VR have said these funds will be used to “accelerate” development of the Oculus Rift hardware, software, and services. Spark founder Santo Politi and Matrix general partner Antonio will join the Oculus VR board of directors as part of the funding allocation.

“Oculus began with a single mission: to put players inside the game,” inventor Palmer Luckey said. “This investment allows us to deliver immersive and affordable virtual reality to players everywhere.”

Oculus VR CEO Brendan Irebe has explained in a statement that while the company still faces many challenges, the extra funding should assist in achieving its goals.

“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,” the statement read.

(via VG247)