Virtuix, the creator of the Omni platform that is a vital part of the immersive experience of 3D virtual reality, has announced it will raise capital in an equity crowdfunding round on SeedInvest. This comes following a “test the waters” campaign where potential investors indicated their interest in purchasing equity in Virtuix. Individuals registered over $30 million of intent to invest. Virtuix will use Regulation A+, a securities exemption that has been described as a mini-IPO type vehicle. Virtuix is seeking a $10 million Series A funding round with a planned launch on March 23, and a maximum funding size of $15 million. Investors who initially registered interest will be given preference over the general public. A soft launch of the offer will begin on March 21st with the offer being open to the wider public two days later. (see offering memorandum below)
“We’ve been on a tremendous journey in the past 4 years. I started working on the Omni in late 2011, long before VR was cool again. I quit my investment banking job and salary a year later to bring the Omni the market, and I invested all my life savings in preparations for our Kickstarter campaign in the summer of 2013. We raised $1.1MM on Kickstarter that year, and we raised $8MM afterwards over two seed rounds from investors including Mark Cuban and a series of VCs. Now we are a 31-people company, we started shipping our product, and we are getting ready to raise our Series A round via Regulation A. Reg A is a good fit for our company, as we were kickstarted by a passionate and highly supportive VR community that can now invest in our financial future alongside our Silicon Valley venture capitalists and global institutional investors.”
Over 3,300 potential investors have registered on the SeedInvest platform stating they would purchase shares in Virtuix. Institutional investors that have indicated interest in participating in this funding round include big name VCs like; Scentan Ventures, Western Technology Investment, Tekton Ventures, and Scout Ventures. It should be noted that terms of the investment remain the same for both smaller and larger investors. Under Reg A+ anyone may invest – not just Accredited Investors.
Crowdfund Insider Senior Contributor Georgia Quinn was given the opportunity to try the Omni – Oculus pairing. Quinn stated;
“the [experience with] Virtuix Omni, along with the Oculus headset … was simply awesome.”
Goetgeluk said they had received frequent requests from customers to purchase equity in the company. Under Reg A+, Goetgeluk is able to provide fans with the option to purchase shares in the early stage firm.
“We are thrilled that our community can now participate in our financial future and be part of the next chapter of our story,” said Goetgeluk.
Managing Partner of Scout Ventures, Brad Harrison, said Virtuix has delivered a great product.
“We are proud to be part of this financing round and support Jan and his team as they continue to build the next big entertainment platform and brand.”
The capital injection will fund future growth and product development. It is Virtuix’s intent to have the Omni become part of every VR setup in every home or commercial location for entertainment (IE gaming), training and virtual tourism.
[scribd id=303671491 key=key-pXpvmCETZIHpR8dqRK6L mode=scroll]
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!