Oculus Rift taking 'final steps' towards retail with latest round of investments

By Steve Watts, Dec 13, 2013 11:30am PST

In spite of a successful crowdfunding campaign and venture capital funds, Oculus VR has yet to go beyond building developer prototypes. Today the company has announced a much larger round of funding, which it intends to put towards making the Oculus Rift a fully-realized consumer product.

IGN reports that Oculus VR, the company behind the Oculus Rift headset, received $75 million, with the bulk coming from venture capital firm Andreessen Horowitz. The firm has supported tech companies like Facebook, Twitter, and Skype in the past. Through this deal, firm co-founder Marc Andreesen will sit on the Oculus VR board of directors.

"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," Oculus CEO Brendan Iribe said in the announcement. "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."

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