Virtuix ‘Mini-IPO’ Receives Nearly $6 Million of Investment Interest in 48 Hours
Virtuix, the maker of a VR immersion treadmill known as the Omni, announced on Monday that it would be launching a “testing-the-waters” campaign through SeedInvest to determine if the general public would be willing to invest in the company’s upcoming series A fundraising round.
On Wednesday the company reported that more than 750 individual donors have expressed a collective interest of nearly $6 million for this mini-IPO ($5,977,000 at the time of writing).
The campaign takes advantage of newly enacted investment laws, created under the JOBS Act, that make it possible for investors without SEC accreditation to contribute to early stage growth companies like Virtuix.
This additional $5 million would compound $9 million the tech startup has already managed to raise from Silicon Valley institutions such as Maveron, and independent investors like Mark Cuban.
Company founder and CEO Jan Goetgeluk expressed in a morning press release that the company is, “overwhelmed by the positive reactions to our testing-the-waters campaign. We continue to be humbled by the enthusiasm and support of our passionate community.”
News of the mini-IPO coincides with Virtuix’s announcement that the first consumer “Pathfinder” model of the Omni VR treadmill was shipped in December, and that 50 more will be sent to early adopters in January.
The company is also having a unique impact on CES this year by hosting what they are calling the world’s first VR eSports tournament.
Virtuix began as a Kickstarter success story in 2013, and the company has now scaled to 31 employees producing a $699 product that more than 4,000 people have pre-ordered.
Those interested in investment in the Virtuix series A can do so through SeedInvest.