FOVE raises $11 Million to accelerate mass production in 2016

FOVE recently have announced a Series A investment of $11 Million by a trio of sources lead by Colopl VR Fund, with additional backing from Hon Hai VC Fund 2020, and Samsung Ventures.

FOVE entered the scene on Kickstarter where the company raised $480,000 for development of its VR headset with inbuilt eye-tracking. Following this campaign, the company have now secured further funding to continue research and development to support its goal of accelerating mass production of the device in fall 2016.

The FOVE VR headset is built around the unique selling point of eye-tracking capabilities that gives the VR headset a distinct different use case than the current leading VR headsets currently on the market – HTC Vive, Gear VR, and Oculus Rift.

FOVE’s biggest mission has always been to make high-end eye-tracking technology widely available to VR enthusiasts and consumers as soon as possible. It was a difficult decision to make, but as we weighed our priorities we decided that our best contribution to VR is still our eye-tracking technology.

FOVE did previously indicate that the company planned on developing eye-tracking capability as an add-on for existing VR headsets, but it appears the company have decided to do their own thing with their own headset, which could see FOVE undercut the bigger, more expensive, headsets in price point. The big question is if there’s even room for another player, especially one so  small, in the face of giants like Facebook-owned Oculus, HTC/Valve, and Sony.

We will be happy to hear your thoughts

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