Oculus Rift secures $16 million in venture capital

By Steve Watts, Jun 18, 2013 4:00pm PDT

Oculus Rift has not only caught the eyes of gamers, but the interest of investors. The new funding will allow for more prototypes and experiments, and the eventual release of a consumer version of the much buzzed-about VR headset.

A Kickstarter update states that the money will be put towards hiring more staff from among "the best and brightest minds in VR from around the world." CEO Brendan Iribe told Forbes that it plans to roughly double its current staff of 30.

"Virtual reality will be one of the most significant technologies of the 21st century. It has the potential to drastically alter the way we play, communicate, and learn," the post says. "I want to thank everyone for their support. None of this would be possible without you, the people who supported Oculus when it was nothing but a rough prototype and a dream of changing gaming forever!"

Oculus Rift was one of many subjects bantered about on the latest Weekend Confirmed, gathering buzz coming out of E3. Development kits shipped in April, but the company has not yet set a date for the consumer version.

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