Oculus VR obtains $16 million in additional funding

Virtual reality is kind of a big deal now. We've always hoped the tech would one day succeed, and now a few other people share our opinion—people with money . After taking in a cool $2.4 million from a successful Kickstarter campaign last September to produce dev kits, the Oculus Rift team has obtained an additional $16 million from Matrix Partners, Spark Capital, Founders Fund, and Formation 8. Oculus Rift Founder Palmer Luckey wrote a few words assuring backers that the new financial partners believe in his dream as well.

“We were fortunate enough to be able to pick investors who we thought would be a great fit,” Luckey said. “They really believe in our vision for the future of VR. These are people who have taken companies from startup to mass market many times, entrepreneurs who have a ton of meaningful experience building hardware and software consumer technology.”

Luckey didn't say when we would see the HD Oculus Rift that we fell for back at E3 on store shelves, but hopefully that extra cash will help along the process.