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Oculus VR raises $75 million to help bring Rift to market

John Carmack says putting people inside the digital world will "revolutionise gaming"

Oculus VR has raised $75 million (£46m) in Series B funding which will be used to develop and bring to market a consumer version of its Oculus Rift virtual reality headset.

Andreessen Horowitz led the funding round, which also included investment from previous backers Spark Capital, Matrix Partners and Formation|8.


As part of the funding round, Andreessen Horowitz co-founder Marc Andreessen will join Oculus VR's board of directors.


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Having raised nearly $2.5 million in Kickstarter pledges last year to fund the creation of Rift dev kits, Oculus VR secured $16 million in Series A funding in June.

"Over the past 16 months, we've grown from a start-up to a company whose virtual reality headset is poised to change the way we play, work and communicate," said Oculus VR CEO Brendan Iribe.

"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."

According to Oculus VR: "The Oculus Rift is a virtual reality headset that provides an immersive, stereoscopic 3D experience with a huge field of view-110 degrees diagonally-and that overcomes latency challenges." Over 40,000 Oculus Rift development kits have been sold to date; a commercial release date has yet to be set.

Andreessen Horowitz co-founder Mark Andreessen said: "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."

id Software co-founder John Carmack, who joined Oculus VR as chief technology officer in August before completely quitting the Doom studio in November, also said: "The games industry is well past the point where more pixels, texels, flops, and frames displayed on the same fixed screens are really changing the experiences that players get.

"I could say the same about other digital experiences as well. What will revolutionize gaming, and interactive content in general, is putting people inside the digital world. That is our goal at Oculus, and this Series B will help us get there."