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)–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.”
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.
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. The Omni is currently available for pre-order for $499 per unit at www.virtuix.com.
About the Virtuix
Founded by CEO Jan Goetgeluk in April 2013 and headquartered in Houston, Texas, Virtuix is at the forefront of virtual reality hardware and is the developer of the Omni – the first-of-its-kind omni-directional treadmill that addresses mobility in virtual environments. Backed by the passion of its founders and community, Virtuix raised $1.1M via Kickstarter during the summer of 2013 and has pre-sold more than 3,500 Omni units to date. Virtuix’s mission is to lead the virtual reality industry to its ultimate goal of “full virtual reality” as the Omni supports natural movement, engages the entire body, and delivers an unprecedented sense of immersion. Virtuix believes that full virtual reality has the power to revolutionize how we live, learn, work and play.
Jan Goetgeluk, CEO