Oculus Rift Secures $75 Million Additional Funding

Oculus CR, the company behind the highly anticipated Oculus Rift virtual reality headset, has raised $75 million on top of the $16 it received earlier this year.

The new funding comes primarily from investment company Andreessen Horowitz, with venture capital entrepreneurs Marc Andreessen and Chris Dixon joining the Oculus board.

According to The Verge Andreessen Horowitz didn't buy into the Oculus hype until they tried out the latest version of the Rift with its improved latency, resolution and head-tracking.

The new fund will be used to help with production costs and to support software developers and encourage them to create high quality games for the yet-unreleased platform.

"They're not just betting that their game will be successful, they're also betting that Oculus will sell enough units to make their game profitable, and that's a really big bet for a developer to make," said Oculus founder Palmer Luckey. "If a company is going to take out a lot of time from their development schedule to build a game in VR, we don't want them to have to shoulder all of that risk themselves."

Oculus Rift release date has not been decided yet.

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Improved latency was

Improved latency was necessary for this device. As people who tried previous versions of the rift reported, they feel nauseous when the game takes too long to respond to head tracking. Now what we need are a few full fledged horror and action games to adopt it and the rift will take off.

lol

Flat screen - Check. Kinect - Check. Yup, already have it, except I don't need a 4 pound device strapped to my face which will create medical problems on the neck in the future lawsuits. Childrens toy at best, 75 million dollars for what is already invented 20+ years ago... lols....

Wow Michael you almost made

Wow Michael you almost made it sound like you had an opinion that wasn't given to you, I can see that all those years of military training are really paying off. Glad the US didn't waste millions training your dumb ass, oh wait...

This is the future

If you havent tried it, dont bash it.. every person ive watched test this thing is blown away by it.. and its only in like pre-alpha stages.. now with all the $$ backing it up.. im excited.. next thing you know we will have someone designing the holo-deck like in star trek... now i hope to god i am alive to see that shit come into fruitation..

well that explains a great

well that explains a great deal... I've been in so many games where i thought to my self "wtf how could you possible have NOT seen that!" it because they're looking at the mouse and keyboard instead of the screen... Keyboard i can maybe see while typing messages .. but the mouse? why in the world would you ever need to look at your mouse to use it

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