The funding was carried out in a large Series B funding round led by Silicon Valley stakeholder Mark Andreessen of the venture capital firm Andreessen Horowitz. The main aim of the fundraiser was to interest consumers who were not too keen on buying such products in the past.
The technology immerses its users in a screen having a vast field of vision in such a way that the entire visual field is fulfilled, making it an absolutely real world experience. With stereoscopic 3D built in, the level of absorption into the VR is unmatched as the real world is overlapped with the virtual one. The money will be used commercially for the production of the new VR glasses aka Oculus Rift. The spectacles will be straddled on the user’s head using straps; this tracking technology makes user locomotion very convenient and allows for the gamers to get a full experience of the virtual reality.
As Oculus expects to take Rift to higher levels (HD consumer version with added features),the technology is still only available to those developers who want to create headset compatible video games. As Andreessen puts it, “We believe Oculus will not only alter the gaming landscape but will redefine fundamental human experiences in areas like film, education, architecture, and design……We tested out the Oculus Rift development kit earlier this year, making sure to put it through the paces. We didn’t have a single person try it who wasn’t blown away.”