In a post on their blog, Oculus VR has confirmed that they have raised $16 million in a Series A funding round to continue and expand their work on virtual reality headset the Oculus Rift. While Oculus VR has shipped prototypes, there is still no public release date.
After their successful Kickstarter campaign, which not only made the $250,000 they had hoped for, but netted them approximately $2.5 million in donations, Oculus VR got to work building prototypes and software development kits (SDK) to drum up interest in the development community and to allow developers to begin adding Oculus Rift support to their games.
While this was a good start to get the ball rolling, Oculus is going to have to put into place full production capabilities for when the devices become generally available to the public and also to continue their PR and advertising campaigns. That is going to be expensive and it's good to see that Venture Capital companies are stepping up with investment dollars to keep it going.