Latest newsletter

The May 1st update is out. Part of it included a notice for potential investors:

[quote]New Investment Round
We are launching a small investment round on SeedInvest on May 6 to strengthen our balance sheet in anticipation of the launch of a new project later this year and a Series B financing round planned for 2019. This $2 million convertible note round is for accredited investors only (see definition here) and provides an opportunity for those who were not able to participate in our Series A to invest in Virtuix at similar terms (a modest 16% valuation increase despite our progress). Our milestone achievements since our Series A round include the following:

Transitioned to a profitable B2B hardware business with healthy margins and volumes (container-sized orders shipped to distributors only), and recurring revenues from Omniverse gameplay.

Ended direct sales and built out a global distributor network of 16 distributors who buy Omnis in minimum-order quantities of 20-foot and 40-foot shipping containers.

Launched our proprietary Omniverse content platform with 16 top VR games (7 more in development), transforming the Omni into a complete entertainment system.

Shipped over 2,500 Omnis worldwide and helped our distributors install Omni systems in over 500 commercial locations on 5 continents.

More than tripled our sales since our Series A round (140% year-over-year growth).

Reached our first profitable months last quarter.[/quote]

This only serves to heighten my concern that Virtuix' turn towards the commercial market means that the average consumer will be entirely forgotten.
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