Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
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:



Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.


 Personal Tech
1.   Nvidia Revamps Shield as Game Tablet
2.   Verizon Boosts FiOS Upload Speeds
3.   'May I Help You?' Asks Jibo the Robot
4.   'TV Anywhere' Solutions from Sling
5.   Mobile Apps Offer Last-Minute Deals


advertisement
Facebook Social Experiment Irks Us
Secretive test was legal, but ethical?
Average Rating:
Verizon Boosts FiOS Upload Speeds
All the better to share videos, photos.
Average Rating:
Mobile Apps Offer Last-Minute Deals
Along with spontaneity and surprise.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
34 European Banks Hit by Android-Skirting Malware
Criminals have been finding gaping holes in Android-based two-factor authentication systems that banks around the world are using. The result: 34 banks in four European countries have been hit.
 
New Web Tracking Technologies Defeat Privacy Protections
Recently developed Web tracking tools are able to circumvent even the best privacy defenses, according to a new study by researchers at Princeton and the University of Leuven in Belgium.
 
Juniper DDoS Solution Aims at High-IQ Networks
In the face of more complex attacks, Juniper Networks is boosting its DDoS Secure solution to help companies mitigate the threats with more effective security intelligence throughout the network fabric.
 

Enterprise Hardware Spotlight
Contrary to Report, Lenovo's Staying in Small Windows Tablets
Device maker Lenovo has clarified a report that indicated it is getting out of the small Windows tablet business -- as in the ThinkPad 8 and the 8-inch Miix 2. But the firm said it is not exiting that market.
 
Seagate Unveils Networked Drives for Small Businesses
Seagate is out with five new networked attached storage products aimed at small businesses. The drives are for companies with up to 50 workers, and range in capacity from two to 20 terabytes.
 
Another Day, Another Internet of Things Consortium Is Born
In the emerging Internet of Things, zillions of devices will be talking to each other. Samsung, Intel and Dell just formed a consortium to ensure each thing can understand what others are saying.
 

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

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.