Oculus VR nets $75m in funding

Oculus VR has secured a further $75 million in investment to finalise the consumer version of its highly anticipated virtual reality head-set.

The series B round was led by Andreessen Horowitz, and featured contributions from Spark Capital, Matrix Partners and Formation 8. Marc Andreessen, founder of Netscape and the driving force behind Andreessen Horowitz, will join the Oculus VR board.

"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 said in a statement issued to the press.

"40,000 developers and enthusiasts, as well as a number of great partners, have joined our cause and helped us bring the seemingly impossible to life. 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."

Andreessen stated his belief that the Oculus Rift would revolutionise not just games, but film, education, architecture and design.

"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," said Oculus CTO John Carmack, who joined the company full-time last month after resigning his position at id Software.

"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,"

The size of this latest investment proves just how much faith is being placed in the Oculus Rift. In June, the company raised $16 million in its first round of funding.