California's Oculus VR raises $75M to launch virtual reality goggles

By VCPOST Staff Reporter

Dec 13, 2013 01:14 AM EST

Virtual reality goggle maker Oculus VR has raised $75 million from a recent funding round. The new capital will go toward building a commercial version of the tech firm's virtual reality goggles, according to VentureBeat.

The latest round was led by venture capital firm Andreessen Horowitz. Existing investors Spark Capital, Formation|8, and Matrix Partners also participated in the round, the report stated.

During the GamesBeat 2013 conference, Oculus VR chief executive Brendan Iribe said his company was working on a mobile version of their goggles, the report said.

Oculus is currently hiring engineers, but it has not yet set a date for its commercial launch, the report added.

Marc Andreessen, the man who founded Netscape in the early 1990s, has invested in game companies before. But the Oculus VR is his biggest investment to date, VentureBeat reported.

Andreessen said in a statement, "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."

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