The Oculus VR Successfully Receives Series B Funding Of $75 Million

Yet another huge funding contribution has been put forth into the futuristic virtual reality head wear created by Oculus. The project had previously received $2.4 million in funding from Kickstarter via 9,500 backers earlier in the year and not stopped the pace ever since.

Back in June of this year, Oculus also received $16 million in Series A funding and it seems they've been the only ones who are approaching the virtual reality market the right way. A major issue to the past VR failures from other comanies was the lack of solid hardware, but as technology has improved this has not been too difficult to handle for the Oculus team. An additional $75 in Series B funding has been reached with the company which means there is a serious push to get these devices into consumer's hands.

CEO Brendan Iribe seems to have a great deal of confidence that this will be the first virtual reality headset to pull through and become successful in the market. He has showed unparalleled enthusiasm in their product while constantly fiddling with early developer versions just to remind himself of its true abilities. Iribe believes that the device will have great real-world implications rather than just being used for video games and entertainment purposes. According to the TechCrunch article, he went on to state:

“This is not just a fun alternative game console. It’s going to apply to medicine, architecture, communications — way beyond just gaming and entertainment.”

As of now, 42,000+ units have been released to be developers for testing and they just can't seem to get enough of the device. The fact that John Carmack of Valve has shown great interest in the technology proves that the future looks bright for Oculus and we could potentially see a new Counter Strike, Team Fortress, or Half-Life game set in virtual reality sometime in the coming years.

Photo Credit: Flickr
Source: TechCrunch

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