Series A Launch Date and Size
After receiving more than $30 million of indications of interest from more than 3,300 potential investors on SeedInvest, we are excited to announce that we are moving forward with our Regulation A offering. We are targeting a $10 million fundraise with a planned launch on Wednesday, March 23, and a maximum round size of $15 million authorized.
Historically, startup investing was limited to accredited investors, but that changed when Title IV of the JOBS Act passed through congress in June 2015. Under Title IV of the JOBS Act, everyone has the opportunity to invest in private tech startups.
Now our backers, customers, and supporters have the chance to invest in Virtuix alongside Silicon Valley venture capitalists and institutional investors. If Virtuix ever makes it big thanks to your support, we believe you should have the opportunity to share in its success.
Institutional investors including Scentan Ventures, Western Technology Investment, Tekton Ventures, and Scout Ventures have already indicated interest in participating in our Series A round. If you are interested in learning more and would like to indicate your interest in potentially investing in Virtuix alongside our VC investors, please visit the link below. We invite you to become part of the next chapter of our story!
Pathfinder Videos and Review
Our Pathfinder Program continues without hiccups. In our latest survey, 100% of Pathfinders stated that their level of engagement and fun in VR is noticeably enhanced by the Omni, and that they would recommend the Omni to a friend in its current (beta) state.
One of our Pathfinders wrote an in-depth review of his first month using the Omni. Read his Reddit post here.
Pathfinders continue to upload home-made videos of their Omni gameplay. See two selected videos below:
An extra batch of 10 Pathfinder Omnis was assembled and shipped by our Virtuix China team, so we have 10 extra units to ship out. After this final batch, all Pathfinder Omnis will be in the field. Our plan is to successfully conclude the Pathfinder program this month.
VRLA Active VR Panel
We were part of a panel about Active VR at the VRLA conference in Los Angeles a few weeks ago. Our panel discussed how Active VR experiences like first-person shooters or exploration games can be enabled in VR comfortably and safely without motion sickness (hint: you need an Omni). See a full video of the panel here:
Burning Calories While Playing Video Games
One of the big advantages of the Omni is that you burn calories while playing video games. Who doesn’t want to get or stay in shape by walking around in Skyrim, exploring the wastelands in Fallout 4, or competing with other players in TRAVR: Training Ops or Omni Arena?
Our user interface application, Omni Connect, tracks your steps taken, miles ran, and calories burned while you play on the Omni. To accurately reflect your calorie burn, we took the Omni to a lab of the Fitness Institute of Texas at UT Austin for testing and calorie measurements. See a few pictures below of our team at work in the lab:
And with Omni Online, you’ll be able to compare your physical stats and gaming stats with your friends! Much like Fitbit, but for video games.
Thank you for your continued patience and support, and as always please join us on our Forums if you’d like to discuss this update or anything VR related:
Jan and the Virtuix Team
Legal Disclaimer: Virtuix Holdings Inc. (“Virtuix”) is accepting reservations for an Offering under Tier II of Regulation A. No money or other consideration is being solicited, and if sent in response, it will not be accepted. No sales of securities will be made or commitment to purchase accepted until qualification of the offering statement by the Securities and Exchange Commission (the “Commission”) and approval of any other required government or regulatory agency. A reservation is non-binding and involves no obligation or commitment of any kind. No offer to buy securities can be accepted and no part of the purchase price can be received without an Offering Statement that has been qualified by the Commission. A Preliminary Offering Circular that forms a part of the Offering Statement has been filed with the Commission, a copy of which may be obtained from www.seedinvest.com/virtuix
For those of us trying to time the arrival of vives and rifts with this, is there any chance to at least find out where we are in the que? Even bad news is better than no news at all.