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VIRTUIX COMPLETES $2.7 MILLION INVESTMENT ROUND AS OMNI CLOSES IN ON COMMERCIAL LAUNCH

Radical Investments, Scout Ventures and Scentan Ventures Lead Group of Investors; New Advisors Join Virtuix Leadership Team

 

HOUSTON – BUSINESS WIRE – DECEMBER, 2014

Virtuix, the developer of the popular and highly anticipated Omni virtual reality treadmill, today announced that it has completed a $2.7 million investment round designed to support operations, fund working capital and accelerate research and development around the full virtual reality experience. Radical Investments, Scout Ventures, Scentan Ventures, Western Technology Investment, Tekton Ventures, 2020 Ventures, and private investors round out the group.

Virtuix’s patent-pending, omni-directional treadmill enables the user to walk, run, and jump within a 360-degree virtual environment, creating a full virtual reality experience that represents an unprecedented sense of immersion and presence within virtual worlds.

“Virtuix’s mission is to take virtual reality beyond the chair,” said Virtuix CEO Jan Goetgeluk. “The Omni transforms VR into an active experience. These funds ensure that we can accelerate development of that mission beyond our upcoming commercial launch.”

Virtuix’s latest investment round comes less than a year after a successful $3 million seed investment round, and just over a year after Virtuix raised $1.1 million via Kickstarter to launch the company and development of the Omni. Virtuix has raised a total of $7 million from investors to date and has pre-sold more than 3,500 Omnis.

In addition to the funding round, Virtuix is proud to announce the addition of two knowledgeable advisors to its team who will guide the company on its exciting road ahead: Kai Huang and Mike Griffith. Kai Huang is co-founder of Red Octane, the developer of “Guitar Hero.“ Huang will be instrumental in aiding Virtuix as it scales its business and builds its consumer brand. Mike Griffith is the former CEO of Activision Publishing and current Vice Chairman at Activision. Griffith will be instrumental in guiding the development of the Omni as a full virtual reality experience that leverages the various applications for the Omni.

“Virtual reality is a fast emerging, rapidly developing and exciting new medium for entertainment and other applications,” said Kai Huang. “The Omni plays a crucial role in expanding VR beyond a seated experience to an active, immersive one.”

The final Omni will be revealed at the 2015 Consumer Electronics Show in January 2015, as Virtuix completes this final stretch toward commercial production in Q1 of next year.

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