Dear Early Investor,
Big news in the equity crowdfunding world this week.
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.
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.
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.
Even better, it sounds like at least some of its previous investors plan to “follow on” in this round of funding.
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.
Sounds to me like they’re in, which is a great sign. This means the public will likely be investing alongside professional VCs, on the same terms.
It will be a first in the U.S. But I’m sure it won’t be the last.
We’re witnessing the birth of an entire new market. Exciting deals like this one will be what propels it forward.
The Crowdfunding Effect
A quick search for “Virtuix” in Google News turns up dozens of articles about the equity crowdfunding announcement. And that’s just a few hours after the news broke.
This is one of the big reasons I believe equity crowdfunding is going to be such a smash hit. Look at all the free publicity Virtuix is getting from major news outlets!
This is pure gold for a startup company. An extremely virtuous cycle. Add in the fact that Virtuix could gain more than 10,000 new investors and champions of its business, and it’s a recipe for success.
If you’re interested in learning more about Virtuix, here are a few more articles I’d recommend reading.
- Recent interview with Virtuix CEO Jan Goetgeluk on SeedInvest
- Recent coverage of Virtuix’s ECF round in Fortune
- VentureBeat coverage of Virtuix’s announcement
Founder, Early Investing