Latest newsletter

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

"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."

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

Comments

  • FastRobPlusFastRobPlus Posts: 15
    Corrected the last line for you:
    Virtuix' turn towards the commercial market means that the average consumer was entirely forgotten.
  • FastRobPlusFastRobPlus Posts: 15
    BTW, the more damming bit you didn't mention was the new, no strap ring harness - it's only available for commercial B2B orders.
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