Dear Early Investor,
Big news in the equity crowdfunding world this week.
Virtual reality startup Virtuix has announced that it will be open to the public for investment on March 23.
The company plans to raise between $10 million and $15 million. This will be Virtuix’s Series A financing. It has raised $8 million to date.
The share offering will take place on SeedInvest.com. Those who are interested can “indicate interest” in the deal now to reserve their spot (non-binding).
The Virtuix Omni Platform
Virtuix, for those who missed my previous article, makes an active, immersive virtual reality platform called the “Omni.”
What the heck is an “active, immersive VR platform,” you ask?
It’s a video game system that allows you to walk on a treadmill-like device. The Omni translates your movement into virtual “steps” in the game.
This is a tough concept to wrap your head around at first, so I suggest watching this video to understand how it works. It should clear up any misunderstandings.
In essence, Virtuix’s Omni product makes VR truly immersive. It tricks your mind into thinking you’re actually walking around in a virtual world. Pretty neat trick, if you ask me.
One of the primary benefits of the Omni is that it is truly active. You can walk, run, even jump. Imagine getting a workout while playing your favorite video game.
It’s also important to understand that this product is a compliment to VR headsets coming online this year, such as PlayStation VR and Oculus. It’s not a competitor of the big boys.
At $699, the Omni isn’t exactly cheap. But if you consider the fact that the Omni is essentially a workout and entertainment machine, I think many will be able to justify the cost.
The Deal
This is the most exciting ECF deal I’ve seen to date.
First off, this company has attracted investment from well-respected VC groups – such as Maveron, Tekton Ventures and Scout Ventures – in the past.
