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Spark, Matrix see future in virtual reality with $16m Oculus VR financing

18 Jun 2013

Oculus VRVenture investors Spark Capital and Matrix Partners have co-led a $16m Series A financing round for computer game-focused virtual reality headgear maker Oculus VR.

Founders Fund and Formation 8 also provided financing as part of the round, which will be used to accelerate development of the company’s  hardware, software and services to create a full virtual reality platform for gamers.

The company’s Oculus Rift headset provides an immersive, stereoscopic 3D experience with a 110 degrees diagonal field of view, and claims to have overcome the latency challenges which can affect VR games.

Spark founder Santo Politi and Matrix general partner Antonio Rodriguez have joined the company’s board of directors following the investment.

Politi said, “In our estimation, Oculus is one of the only companies in the space with something completely new and disruptive.

“They have the right team, capital and vision to take virtual reality beyond console gaming and into everyday computing.”

Oculus previously raised more than $2.4m through its Kickstarter campaign – almost 10 times its fundraising goal.

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