Virtuix Receives Over $10 Million of Investment Interest In One Week From Public For Potential Mini-IPO
AUSTIN (January 13, 2016) – Virtuix, the leader in active virtual reality and the developer of the popular and highly anticipated Omni motion platform, launched a “testing-the-waters” campaign on SeedInvest last week Tuesday to garner whether there would be interest from the general public in its upcoming Series A financing round via a potential mini-IPO. In the first week of the campaign, more than 1,250 people collectively indicated their interest in investing more than $10.3 million in Virtuix.
Virtuix’s upcoming fundraise comes shortly after Virtuix announced it started shipping the Omni to customers last month.
“We are thrilled to see the overwhelmingly positive response to our testing-the-waters campaign,” says Jan Goetgeluk, Founder and CEO of Virtuix. “Our company owes its beginning to the support of the passionate virtual reality community. Now, with Regulation A, our customers and supporters may have a chance to buy shares in Virtuix alongside Silicon Valley venture capitalists and global institutional investors.”
Historically, the general public was required to be accredited with the Securities and Exchange Commission in order to invest in private companies. These conditions were based on income and net worth and denied all but the wealthiest 2% of Americans an opportunity to invest. With the new regulation under Title IV of the JOBS Act, the opportunity to invest in private tech startups is now extended to everyone.
Virtuix has grown to a team of 31 people and has raised funds in excess of $9 million, primarily from private and institutional investors including a series of Silicon Valley venture capitalists. Virtuix has pre-sold more than 4,000 Omnis to date and started shipping 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 an 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.
Since the start of 2010, nearly $3.9 billion has been deployed into the emerging VR space across 353 completed deals, according to PitchBook. Virtuix filed to have its offering qualified with the SEC. The company continues to collect non-binding indications of interest from investors at www.seedinvest.com/virtuix/series.a.
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 360-degree mobility 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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