Facebook’s Oculus VR Acquires Danish Startup Company, The Eye Tribe

Technology - Pavan Pandey - Dec 30,2016

Rating -

stars - based on 21 reviews

facebooks oculus vr acquires danish startup company the eye tribe

American technology company, Oculus VR, confirmed the acquisition of Copenhagen-based eye-tracking technology firm, The Eye Tribe, for an undisclosed sum.

The Facebook-owned company, Oculus VR, shot to fame with the launch of company’s VR (virtual reality) headset. Oculus Specializes in VR technology, also being the manufacturer of its products. Oculus was acquired by Facebook for $2 billion in stock and cash in March 2014.

On the other hand, The Eye Tribe is a company that tracks eye movement in virtual reality (VR) and was founded in the year 2011. After two years, in September 2013, this Danish company stepped into the hardware game, offering a low cost ($99) device add-on that could be paired with PCs or tablets to add eye-tracking capabilities. The company started to transport its “Eye Tracking software Development Kit” to developers in 2014.

It (The Eye Tribe) has also developed foveated rendering technology, which allows VR systems save computational power by only producing faultless graphics where users are looking. Basically, it builds a focal point that moves with the user's eyes.

The Eye Tribe is the newest in a chain of tech acquisitions this year for Oculus VR. The parent company of Oculus, Facebook Inc. is especially interested in eye tracking because the company wants to take the lead in social interactions in virtual reality. The aptitude to follow eye movement makes it easier to comprehend human’s expressions and let them communicate effectively with each other in a virtual world.    

The company led by Sune Alstrup John, recently raised nearly $3 million from stakeholders including Startup Bootcamp, separately from taking a $2.3 million grant from The Danish National Advanced Technology Foundation (DNATF). The acquisition of Oculus VR comes at a time when the whole technology industry is running after eye-tracking startups. Very lately, Google acquired an eye-tracking startup in the form of Eyefluence. The search giant is capitalizing in virtual reality as its goals to integrate its media facilities like YouTube and Google app store into the nascent technology.