Oculus Rift Gets Closer To Consumer’s Hands With $75 Million Boost

Dec 16, 2013 by  

Oculus Rift Raises $75 Million

It is no secret that virtual reality is gunning to be the next big innovation in gaming. The hype for the Oculus Rift has been loud since the headset hit Kickstarter and raised $2.4 million through crowd funding. The hardware has gotten rave reviews at trade shows over the last year and a half, slowly converting consumers, developers and critics alike that the 1990s VR pipe-dream is ready to come to fruition.

For excited gamers who haven’t strapped on the headset yet, it has been a long wait full of second-hand hyperbole from media outlets raving about the technology. That patience is getting closer to being rewarded though as Oculus VR recently received a cash injection to help complete the consumer version of the Rift. Oculus VR has revealed that it raised over $75 million in order to get the product to consumers and received  the massive investment from the Andreessen Horowitz firm, which was founded by Netscape creator Marc Andreessen.

The funding is going to go towards staffing Oculus VR in order to get the hardware ready for consumers. This investment cements the company as a serious player in the video game market, which it’s going to need to do as it’s sure to come up against some serious competition.

Oculus Rift Huge Investment

Brendan Iribe, Oculus VR’s Chief Executive confirmed that this investment has brought the company substantially closer to getting the product out to the consumers.

“This additional infusion of capital, as well as the leadership and experience of Marc Andreessen, will help us take the final steps toward our ultimate goal: making virtual reality something consumers everywhere can enjoy.”

Andreessen, who is known for his pioneering work of the internet in the 1990s, appears to think that the Oculus Rift has massive potential. Along with his huge investment, he made a glowing statement about the sky high hopes he has for the Rift.

“We believe Oculus will not only alter the gaming landscape but will redefine fundamental human experiences in areas like film, education, architecture, and design. Oculus is at the tip of the iceberg of its potential, and we’re incredibly excited to help them change the world”

The hardware has been putting together an all-star team of industry professionals during the last few months and Andreessen’s support comes after legendary developer Jon Carmack was recently announced as Oculus VR’s Chief Technology Officer.

It is rumored that Sony and Microsoft have their own VR headsets in the works to rival the Oculus Rift on both the PlayStation 4 and Xbox One, but with such a big vision, team and now the capital behind the Rift, do you think that Oculus VR can beat off any competition thrown at it? Are you excited about the future of VR? Do you think it is all just a big gimmick?

-

Source: Venture Beat

Tags: Oculus Rift

6 Comments

Post a Comment

  1. I knew about this 3 days ago. Come on Gamerant, step up!

  2. Well, I don’t think OR is a gimmick as a lot of in-development projects have OR dev kits and are coding their games to support it (Star Citizen and Elite: Dangerous come to mind). the 25 thousand dollar question is how much will it eventually retail for? Do they want “gamers everywhere” to embrace it or are they just going for a niche crowd?

  3. So my biggest question is do I have to buy all new games for it, does it stream games from Steam or something, or is it like a TV where I can just plug something into it and it’ll start working.

    • Actually, it’s a game enhancing peripheral so in that sense it being built to work with games that code support for it in the back-end the same way a game codes support for different gamepads, controllers, joysticks, etc. At E3, it was using USB and HDMI interfacing, but I don’t know if that’s final or not. It doesn’t connect to your TV, it connects to your hardware. Since there is no; as of yet; Sony/PS4 or MS/Xbox One version, it’s unknowable what type of interface those will use or what those will actually be called. So it won’t be plug-n-play for any and all games. It will be predicated by whether a game supports it or not.

    • The only games I know for certain that are being developed with Oculus Rift support are:
      EVE Valkyrie
      Elite: Dangerous
      Star Citizen
      No Man’s Sky

      There may be others, so that’s not a conclusive list.

  4. Many people have said it is a gimmick but I own the current dev kit and can tell you there isn’t any hype here. When te consumer model hits the market it will be a game changer for sure.

    With the recent $75 million in funding they are planning to help developers include Rift support for their games. With this kind of backing you can count on many games being supported and a AAA experience.

    Here is a list of supported games and demos so far. When they start throwing their new found cash around the list will explode.

    http://www.theriftlist.com

    and

    http://www.riftenabled.com

Post a Comment

GravatarWant to change your avatar?
Go to Gravatar.com and upload your own (we'll wait)!

 Rules: No profanity or personal attacks.
 Use a valid email address or risk being banned from commenting.


If your comment doesn't show up immediately, it may have been flagged for moderation. Please try refreshing the page first, then drop us a note and we'll retrieve it.