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Virtuix designed and sells “Omni,” an omni-directional treadmill that lets players walk and run in 360 degrees inside VR games and other virtual worlds. We’ve earned over $16 million in revenue and are currently shipping our newest product, Omni One, for beta testing.
$1,024,611.85 Raised
REASONS TO INVEST
Backed by major investors such as Mark Cuban, Maveron, and Scout Ventures, the Omni helps players experience true virtual reality by enabling 360-degree movement during VR gameplay.
We’ve sold over $16 million worth of products to major companies such as Dave & Buster’s, and we’ve raised over $35 million in previous financing rounds.
Our newest product, Omni One, is our first consumer system for the home. We started shipping beta units in January 2023, and we have a waitlist of over 35,000 interested customers.
the pitch
At Virtuix, we create omni-directional treadmills that let users walk, run, crouch, and jump realistically during gameplay. We’re already selling two commercial products: Omni Pro and Omni Arena. Now, we’re launching Omni One, a consumer version that brings true virtual reality into the homes of our customers. With $16 million in sales to date and $35 million raised from previous crowdfunding campaigns and investors such as Mark Cuban, we’re ready to scale.
Full Freedom of Movement in Virtual Reality
Our omni-directional treadmill technology takes virtual reality to the next level by enabling full-body VR experiences within a small footprint. The thrill of actually walking around inside video games has blown the minds of millions of players at our commercial venues. We plan to take our success in commercial entertainment and scale it into the home with our newest product: Omni One. Join our mission to roll out Omni One and bring our popular gaming experience to millions of homes around the world.
The Problem & Our Solution
The Next Generation of VR Technology
Navigating virtual worlds by pushing buttons on a controller feels unnatural and static. To experience true VR, users need the freedom to walk around virtual worlds as you do in real life – using your own feet.
With over 3 million plays, the Omni has become a hit at commercial entertainment venues like Dave & Buster’s. In response to demand from our fans, we developed our newest product: Omni One, a consumer version of the Omni optimized for home use. Omni One enables full freedom of movement, including kneeling and jumping, yet occupies very little floorspace. It’s also easy to assemble and move around the home.
By making the Omni available to consumers, we’re ready to usher in the next generation of VR gameplay. As an added benefit, users burn calories while playing video games!
Omni One is a complete entertainment system that includes a VR headset and optimized games, delivering a seamless user experience. Its online game store sells games developed by Virtuix and top titles licensed from third parties. At a price point of $2,595 per system, hardware revenues increase rapidly with scale. We anticipate shipping just 3,000 units a month would result in $100 million in annual revenue. Recurring revenues from monthly subscriptions (for online gameplay) and game sales (in the Omni One store) provide additional high-margin upside.
The Market & Our Traction
A Fast-Growing User Community and Major Investor Support
*These testimonials may not be representative of the experience of other customers and is not a guarantee of future performance or success.
Thanks to our expanding install base of over 65 Omni Arena attractions at entertainment venues nationwide, we’ve built a devoted and rapidly growing player community of over 300,000 registered players. We have the email addresses of these Omni fans and can promote Omni One to them at no incremental cost.
We also have a growing email waitlist for Omni One of over 35,000 subscribers. Every week, 250-300 more people join the Omni One waitlist with little marketing. Thanks to the Omni’s viral appeal, streamers and influencers often post Omni content at no cost to us. Even Elon Musk recently tweeted a video of the Omni to his 120 million followers!
Since our founding, we’ve achieved the following milestones:
- Sold $16 million worth of hardware, including over 4,000 Omni Pro systems in 45 countries and over 65 Omni Arena systems sold to U.S. entertainment venues (current selling price of $174,000)
- Grew revenue 75% year-over-year in FY’22
- Hosted over 3 million plays at entertainment venues, with over 300,000 registered players
- Built waitlist of over 35,000 subscribers interested in purchasing Omni One with little marketing
- Published 28 Omni games, including 10 made in-house
- Secured 19 issued patents and 8 pending patents covering mechanical design, motion tracking, and game integration
- Raised over $35 million in capital from Mark Cuban, 12 venture funds including Maveron and Scout Ventures, and 2 strategic investors
Virtuix’s management team and advisory board bring over 100 years of gaming and hardware industry experience at notable businesses including Activision, Dave & Buster's, and Guitar Hero.
Why Invest
Building the Future of Gaming
After the multi-million dollar success of our commercial Omni products, we’re ready to move into home entertainment with Omni One. The time is now: VR technology is ready, the business model for high-end, direct-to-consumer hardware is established, and the consumer market is asking for our product. We have an expanding and devoted player base of over 300,000 players and a rapidly growing waitlist for Omni One of over 35,000 subscribers. Join our mission to roll out Omni One and bring our popular gaming experience to millions of homes around the world.
ABOUT
HEADQUARTERS
1826 Kramer Lane STE H
Austin, TX 78758
WEBSITE
View Site
Virtuix designed and sells “Omni,” an omni-directional treadmill that lets players walk and run in 360 degrees inside VR games and other virtual worlds. We’ve earned over $16 million in revenue and are currently shipping our newest product, Omni One, for beta testing.
TEAM
Jan Goetgeluk
Chief Executive Officer & Board Member
Jan holds Bachelor and Master of Science degrees in Mechanical Engineering from the University of Ghent in Belgium, and an MBA degree from Rice University in Houston.
David Allan
President, COO & Board Member
David lives in Taiwan and speaks fluent Mandarin. He holds a Bachelor of Applied Science in Systems Design Engineering from the University of Waterloo in Canada.
Michael Bradley McGovern
Board Member
He holds a Bachelor of Business Administration in Finance and Accounting from Texas Christian University, a Masters of Accounting from Texas Christian University, and a Masters of Business Administration at Rice University.
Mike Griffith
Advisor
Kai Huang
Advisor
Jianwei Li
Advisor
TERMS
Virtuix
Overview
INTEREST RATE
0%
AMOUNT RAISED
$1,024,611.85
VALUATION CAP
$180M
Breakdown
MIN INVESTMENT
$500
DISCOUNT RATE
20.0%
CONVERSION TRIGGER
$5,000,000
OFFERING TYPE
Simple Agreement for Future Equity
TYPE OF EQUITY
Series B Preferred Stock
What is a SAFE Agreement?
A Crowdfunding Simple Agreement for Future Equity (Crowdfunding SAFE) offers you the right to receive Series B Preferred Stock in Virtuix. The amount of Series B Preferred Stock you will receive in the future will be determined at the next equity round in which the Company raises at least $5,000,000.00 in a qualified equity financing. The highest conversion price per security is set based on a $180,000,000.00 Valuation Cap or if less, then you will receive a 20.00% discount on the price the new investors are paying. You will receive no interest on your investment. When the maturity date is reached, if the Crowdfunding SAFE has not converted then you are entitled to receive Series B Preferred Stock equal to your investment back at a price per security by dividing the Valuation Cap by the aggregate number of outstanding equity securities of the Company as of immediately prior (on a fully diluted basis).
Voting Proxy
Investors will agree to appoint as voting proxy and grant a power of attorney to the Chief Executive Officer of the Company with respect to matters further described in the Voting Agreement.
All perks received are cumulative to perks earned in prior financing rounds. For instance, if an investor has already received one free game from a previous investment and that investor invests $1,200 in this raise, they will have 2 free games total (one from the previous investment and one from this investment).
Amount-Based Investment Incentives
$1,000+ | Explorer
Invest $1,000+ and receive a 20% discount ($520 value) when purchasing Omni One + 1 free game (est. $40 value)
$2,000+ | Pathfinder
Invest $2,000+ and receive a 25% discount ($650 value) when purchasing Omni One + 2 free games (est. $80 value) + 3 free months of Omni Online ($42 value).
$5,000+ | Voyager
Invest $5,000+ and receive a 30% discount ($780 value) when purchasing Omni One + 3 free games (est. $120 value) + 6 free months of Omni Online ($84 value).
$10,000+ | Trailblazer
Invest $10,000+ and receive a 40% discount ($1,040 value) when purchasing Omni One + 5 free games (est. $200 value) + 12 free months of Omni Online ($168 value).
$20,000+ | Pioneer
Invest $20,000+ and receive a free Omni One system OR a 50% discount on all Omni One accessories for 1 year AND IN ADDITION receive 5 free games for Omni One + 12 free months of Omni Online.
$50,000+ | Legend
Invest $50,000+ and get the “Pioneer” perks + a VIP trip to Austin that includes air travel for 2 people (within continental U.S.), 5-star hotel for 3 nights (1 room), BBQ meal with Virtuix’s CEO Jan Goetgeluk + tour of Virtuix to meet the team.
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement.
Irregular Use of Proceeds
The Company will not incur any irregular use of proceeds.
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Melinda Starbird
8 months ago
Hi there - I invested this last round and o have not seen a invite to purchase the Omni One. How will that arrive?
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Yesenia Tehuitzitl
8 months ago
Hey Jan, I have a question that came to mind because of the growing news around the U.S. wanting to ban TikTok. How are the current headsets and future upgrades to the headset be affected by the potential banning of Pico's parent company? Is there a plan in place if Pico gets banned as well? Thanks!
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Yesenia Tehuitzitl
8 months ago
Hey Jan! I hope you are well. As soon as the campaign was over, I was under the impression that I would receive the newsletter to sign up for the beta program or get more updates on next steps. When will the newsletter be sent and will there be regular updates on this platform?
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Yesenia Tehuitzitl
8 months ago
Hey Jan! I was curious and have a few more questions :) 1. How will upgrades work, let's say, a few years from now when a new headset comes out since you don't sell the treadmill and headset separately? 2. How or where will we have access to additional accessories if certain items break or if we have friends and family that want to play and need the additional footwear accessory? For example, if people have different size feet. 3. Is there warranty on the unit and accessories? Thanks!
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Nicholas Marino
8 months ago
Really glad to see the momentum for this round in this market environment. Hope it can continue for the following Series B round
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Joel Hoffman
8 months ago
Thank you, Jan. Considering your clear and timely response, my initial comment seems a bit unfair. Yours, Joel
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Joel Hoffman
8 months ago
Startengine and Virtuix: My recollection is that the price per share was right near the invest bar. Why is it that I can't find this figure now? Too many sexy photos of a gaming product and not enough transperency! Happy to apologize and delete this post if I'm just missing it. But I've noticed a change in how the pitches look from a year ago when I first invested. Might have been interested, Joel
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Yesenia Tehuitzitl
8 months ago
Hey Jan! Will we have more opportunities to invest in the Omni One after this campaign is over for new and existing investors? If so, will this be through the Start Engine platform or somewhere else? I'm sure these will be the questions on everyone's mind after the campaign ends. Thanks!
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Yesenia Tehuitzitl
8 months ago
Hey Jan, I hope you're having a good week so far as we get closer to the last few days of this campaign. I'm actually super excited myself! I do have a few more questions I hope you can help answer for me. 1. We know you'll have a monthly subscription. Any chance you'll have a yearly subscription too? Maybe one that is also discounted for buying a whole years worth upfront? 2. We know you have a few games that will be included with the unit but do you have a schedule or future plan laid out for upcoming games. What's coming down the pipeline? Any chance you'll have game trailers for them too? Thanks!
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Ryan Brenner
8 months ago
I see on your website you are accepting investments and have similar rewards to those offered on this last round through Start Engine - If I invested this past round on Start Engine and invest more through your website are the rewards combined?
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