Back in January, Virtuix announced that it wanted to launch a Mini-IPO that is open to the general public for investment to raise funds. The VR-treadmill maker planned to make $10 million with this fundraising method, and today it announced that within the first 24 hours of launching the campaign, it's already collected $2.5 million.
The shares are currently priced at $2.33, and thus far five institutional investors and more than 500 individuals put money into Virtuix.
The mini IPO is accessible to the public through SeedInvest, thanks to Regulation A under Title IV going into effect on June 19, 2015. Prior to that, only individuals with a net worth of over $1 million dollars and an income of over $200,000 were allowed to invest in such IPOs.
“We are thrilled to see the overwhelming response to our stock offering,” said Jan Goetgeluk, Founder and CEO of Virtuix. “We are excited that our community can now participate in our financial future and be part of the next chapter of our story.”
The Virtuix Omni VR treadmill left us thoroughly impressed when we got to try it back at CES. The idea is that it is an omni-directional treadmill that takes the room scale limitations out of the equation for first-person shooters in VR games, allowing you to free-roam virtual environments without running into your living room walls.
If investing isn’t your thing, you can also support Virtuix by preordering the Omni for $699.
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