Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Vblock™ Systems:
Advanced converged infrastructure
increases productivity & lowers costs.

www.vce.com
Personal Tech
24/7/365 Network Uptime
Average Rating:
Rate this article:  
Virtual Reality Gets Thumbs Up with Oculus VR Funding
Virtual Reality Gets Thumbs Up with Oculus VR Funding

By Jennifer LeClaire
June 18, 2013 2:45PM

    Bookmark and Share
"Virtual reality will be one of the most significant technologies of the 21st century," said Oculus VR founder Palmer Luckey. "It has the potential to drastically alter the way we play, communicate, and learn. I think that VR can -- and will -- be as widely used as Facebook or Twitter, and the societal implications will be far greater."
 



Oculus VR, makers of a virtual reality headset for video games, has raised $16 million in a Series A funding round co-led by Spark Capital and Matrix Partners, along with Founders Fund and Formation 8.

In case you aren't familiar with the concept, the company's flagship product, Oculus Rift, promises to change the way you think about gaming with a wide field of view, high-resolution display and ultra-low latency. Even with 'next generation' consoles on the horizon, virtual reality still came away with dozens of awards and accolades at E3 and Oculus Rift is on the cutting-edge of that realm.

"I got into VR because it seemed like the obvious path to the best possible gaming experience, but never expected it to take off so quickly," said Palmer Luckey, founder of Oculus VR, in a blog post. "In less than a year, incredible game developers all over the world are building games designed explicitly for virtual reality, and people are beginning to understand that the tech is finally viable."

Changing Virtual Realities

The funding will open new doors for the Irvine, Calif.-based company. Luckey is no stranger to fund-raising. He used Kickstarter to get its first product, Oculus Rift, off the ground. The concept first garnered $2.4 million in support from the likes of Valve, Epic Games and Unity and more than 9,500 other potential customers.

According to the company, Oculus Rift is different from other virtual reality headsets because it offers an immersive gaming experience. Even though this space is still young, the company is already racing to a lead with its approach -- and now it's funding.

"Most products either lack the technical features required for believable immersion or sit at a very high price-point ($20,000+) reserved for the military or scientific community," the company said as part of its Kickstarter campaign. "We set out to change all that with the Rift, which is designed to maximize immersion, comfort, and pure, uninhibited fun, at a price everyone can afford."

Just Like Facebook?

Luckey said the company chose investors that believe in his vision for the future of VR -- venture capitalists who have taken companies from start-up to mass market many times, entrepreneurs who have meaningful experience building hardware and software consumer technology.

Oculus VR plans to use the funding to hire virtual reality talent, experiment and build a prototype with more cutting-edge tech and "build a bad-ass, consumer VR gaming platform."

"Virtual reality will be one of the most significant technologies of the 21st century," Luckey said. "It has the potential to drastically alter the way we play, communicate, and learn. I think that VR can -- and will -- be as widely used as Facebook or Twitter, and the societal implications will be far greater."
 

Tell Us What You Think
Comment:

Name:



APC has an established a reputation for solid products that virtually pay for themselves upon installation. Who has time to spend worrying about system downtime? APC makes it easy for you to focus on business growth instead of business downtime with reliable data center systems and IT solutions. Learn more here.


 Personal Tech
1.   Amazon 3D Smartphone Pics Leaked
2.   Why Netflix Got So Blazingly Fast
3.   Study: Samsung Phone vs. iPhone
4.   Criterion Extends Hulu Streaming Deal
5.   iPad Hacker Conviction Overturned


advertisement
BlackBerry Drops T-Mobile After Spat
Moving on to other carriers after snub.
Average Rating:
Android Wear on Tap for Wearables
OK Google, what's really new here?
Average Rating:
Is Zuckerberg Nuts To Buy Oculus VR?
$2 billion deal for unproven company.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
IBM Offers Security, Disaster Recovery as SoftLayer Service
New disaster recovery and security services for SoftLayer clients are being added by IBM. Big Blue said the new capabilities will speed cloud adoption by alleviating concern over business continuity.
 
How To Beat the Heartbleed Bug
Heartbleed headlines continue as IT admins scramble for answers no one has. Early reports of stolen personal data, including 900 social insurance numbers in Canada, are starting to trickle in.
 
After Heartbleed, OpenSSL Calls for More Support
The president of the OpenSSL Foundation says more support is needed from companies and governments that use its software so that it can better spot and fix flawed pieces of code such as Heartbleed.
 

Enterprise Hardware Spotlight
Vaio Fit 11A Battery Danger Forces Recall by Sony
Using a Sony Vaio Fit 11A laptop? It's time to send it back to Sony. In fact, Sony is encouraging people to stop using the laptop after several reports of its Panasonic battery overheating.
 
Continued Drop in Global PC Shipments Slows
Worldwide shipments of PCs fell during the first three months of the year, but the global slump in PC demand may be easing, with a considerable slowdown from last year's drops.
 
Google Glass Finds a Home in Medical Education, Practice
Google Glass may find its first markets in verticals in which hands-free access to data is a boon. Medicine is among the most prominent of those, as seen in a number of Glass experiments under way.
 

Mobile Technology Spotlight
Amazon 3D Smartphone Pics Leaked
E-commerce giant Amazon is reportedly set to launch a smartphone after years of development. Photos of the phone, which may feature a unique 3D interface, were leaked by tech pub BGR.
 
Zebra Tech Buys Motorola Enterprise for $3.45B
Weeks after Lenovo bought Motorola Mobility’s assets from Google for $2.91 million, Zebra Technologies is throwing down $3.45 billion for Motorola’s Enterprise business in an all-cash deal.
 
CTIA Caves, Volunteers Kill Switch Plan
After bucking against the concept of a smartphone kill switch, the CTIA just announced the “Smartphone Anti-Theft Voluntary Commitment” to thwart smartphone thefts in the U.S.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | Small Business | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.