Virtuix rocketed out of the gate on SeedInvest during its Test the Waters (TTW) campaign in preparation for a Regulation A+, mini-IPO type offer. Virtuix, creator of the Omni motion – a device that puts the movement into the hot sector of virtual reality (for gaming and more), launched the initiative on SeedInvest this week and within the first 48 hours had raised over $5 million as more than 750 investors indicated their interest to purchase shares in the young company. As of this writing, the TTW amount stands at over
$5.6 $6.1 million and continues to receive registrations.
Jan Goetgeluk, founder and CEO of Virtuix, stated he was “overwhelmed”. The listing comes on the heals of Virtuix announcing the shipping of Omnis to customers and just as Oculus Rift launched presales. “We continue to be humbled by the enthusiasm and support of our passionate community,” stated Jan.
Virtuix is leveraging the newly minted securities exemption placed into law under the JOBS Act of 2o12. Under Title IV of the law, also called Regulation A+, issuers may sell shares in smaller companies to anyone – not just accredited (wealthy) investors. Virtuix has recognized that its consumer base may be their best shareholders and brand ambassadors. For smaller investors it is an opportunity to get in at an earlier stage of company development.
Virtuix has previously raised over $9 million from both private investors and a successful rewards based campaign. Well known shark tank participant Mark Cuban is an early investor.
Virtuix intends to use the proceeds to boost sales growth and product development. VR is expected to grow to an enormous industry with gaming being the first sector to gain traction. The current series A funding round seeks a maximum of $15 million or a minimum of $5 million. Indication’s of interest are not a binding agreement but gives management a solid idea as to how much they can raise.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!