In January, Virtuix announced its desire to launch a “mini-IPO” that would be open to the general public for investment. The company entered the “testing-the-waters” stage on SeedInvest to gauge investor interest, and today, the creator of the Omni announced its plans to move forward with a proper investment round.
“We receive frequent requests from our customers and supporters to buy shares in Virtuix, but before now we had to turn them away because of regulatory restrictions,” said Jan Goetgeluk, Founder and CEO of Virtuix. “We are thrilled that our community can now participate in our financial future and be part of the next chapter of our story.”
Virtuix is seeking to raise at least $10 million in the upcoming funding round, but it is authorized to bring in a maximum of $15 million. Virtuix said it received over $29 million worth of “indications of interest” from over 3,200 investors in the last two months. Due to the potential high demand, the company said that potential investors who indicate interest at www.seedinvest.com/virtuix will be given the opportunity to purchase shares two days before the general public, during the round’s “soft launch” on March 21.
Virtuix noted a number of firms that have already expressed interest in participating in the offering, stating, “Institutional investors that have already indicated interest in participating in this Series A round include Scentan Ventures, Western Technology Investment, Tekton Ventures, and Scout Ventures.”
Virtuix plans to use the proceeds from the Series A funding round to foster growth within the company and invest in further product development to fulfill its dream of being “part of every active VR setup for both home use and commercial applications.”
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