Virtuix Launches Mini-IPO
VR Company Already Raised $2.5mm From More Than 500 Investors Just 24 Hours After Public Launch
AUSTIN (March 25, 2016) – Virtuix, the leader in active virtual reality and the developer of the popular Omni motion platform, launched its mini-IPO publicly on Thursday of this week and already raised $2.5MM just 24 hours after the public launch of the offering. So far, more than 500 private investors and 5 institutional investors purchased shares in Virtuix. Virtuix is offering Series A preferred stock to the public at $2.33/share.
Institutional investors that are participating in this round include 2020 Ventures, Scentan Ventures, Western Technology Investment, Tekton Ventures, and Scout Ventures.
“Virtuix is transforming the inherently limiting seated or room-scale VR setup to a fun, engaging, and social Active VR experience,” says Noriaki Okubo, current investor and partner of Scentan Ventures. “We invested in Virtuix because they are the Active VR category leader with a passionate and driven team that is determined to revolutionize VR gaming, fitness, training and simulation, and many other applications.”
Historically, startup investing was limited to accredited investors (only 2% of Americans), but that changed when Title IV of the JOBS Act passed through congress in June 2015. Title IV of the JOBS Act, also known as Regulation A+, allows everyone the opportunity to invest in private tech startups. For the first time in history, the general public has the chance to invest alongside Silicon Valley venture capitalists and institutional investors.
“We are thrilled to see the overwhelming response to our stock offering,” says Jan Goetgeluk, Founder and CEO of Virtuix. “We are excited that our community can now participate in our financial future and be part of the next chapter of our story.”
Over the past two years, Virtuix has grown to a team of 31 people and has raised over $9 million in private funding from individuals and institutional investors including Silicon Valley venture capitalists like Western Technology Investment and Tekton Ventures. Virtuix has pre-sold more than 4,000 Omnis to date and started shipping units to customers in December 2015.
Virtuix plans to use the proceeds from its upcoming offering to fund growth and further product development. Ultimately, Virtuix’s vision is to have the Omni be part of every Active VR setup both for home use and for commercial applications that include out-of-home entertainment, training and simulation, and virtual tourism.
Virtuix published a new video accompanying its stock offering with testimonials of Tim Draper and other personalities from the investment and gaming industries. Virtuix is accepting investments through the online SeedInvest platform at www.seedinvest.com/virtuix.
Founded by CEO Jan Goetgeluk in April 2013 and headquartered in Austin, Texas, Virtuix is the pioneer of the Active VR category and is the developer of the Omni – the first-of-its-kind motion platform that enables walking and running in virtual environments. The Omni is compatible with leading headsets and virtual reality content. It is currently available for pre-order for $699 per unit at www.virtuix.com.
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