Oculus VR secures $16M in funding

Oculus VR, developer behind the upcoming Oculus Rift virtual reality headset, has obtained $16 million in Series A funding through Spark Capital and Matrix Partners. The funding is to be put toward accelerating the development of the Oculus Rift hardware and associated software. "In our estimation, Oculus is one of the only companies in the space with something completely new and disruptive," said Spark's Santo Politi, in a statement. Together with Matrix Partners' Antonio Rodriguez, Politi will be joining Oculus VR's board of directors. "There ares till many challenging problems to solve, but with the support of these great investment partners... we will continue to hire the brightest minds and stay laser focused on delivering the very best virtual reality platform possible," said Oculus VR CEO Brendan Iribe in the same statement. Oculus had previously secured $2.4 million through Kickstarter. You can follow status updates on the Oculus Rift via the company's website.