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The Oculus Rift creators have almost tripled its initial funding target, raising $16 million in its first round of funding.

GamesIndustry are citing confirming reports that claim the series A round was led by Spark Capital and Matrix Partners.

Digital Foundry previously assessed a dev kit for the Virtual Reality tech, and called it a, “landmark achievement…that represents a new way to play games,” but not without its issues.

“Oculus Rift offers the potential for complete gaming immersion, but what it doesn’t offer is any way to better interact with the world it so vividly brings to life… You want to reach out and touch things, and interact in a more intuitive manner – but you can’t.

“For all its drawbacks, the Rift makes a powerful statement about the future of virtual reality, but even with the dev kit’s major issues addressed, we’re still a long, long way off from an experience that lives up to the raw potential.”

Developing kits were sent out in March.