Oculus VR Raises $75M in Series B Funding

oculus vrOculus VR, an Irvine, CA-based virtual reality technology company, raised $75m in Series B funding.

The round was led by Andreessen Horowitz with participation from Spark Capital, Matrix Partners, and Formation 8. In conjunction with the funding, Marc Andreessen and Chris Dixon will join the company’s board of directors.

Founded in 2012 by Palmer Luckey and led by Brendan Iribe, CEO, and  John Carmack, CTO, Oculus VR has developed the Oculus Rift virtual reality headset for immersive gaming, which produces a stereoscopic 3D experience with a huge field of view—110 degrees diagonally—so players don’t see the screen.

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The company, which currently has a global team of nearly 70 engineers, game developers, designers, and scientists, intends to use the capital to design new hardware, manufacture (millions of) units, and develop games, apps, and experiences.

It was initially backed by a $2.4m Kickstarter campaign and a $16m Series A round.

The founding team of Oculus VR also included Andrew Scott Reisse, who recently died (read here).



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