The Virtuix Omni One VR treadmill system is set to receive a significant financial boost after a successful seed investment campaign. Despite facing a two-year launch delay due to the pandemic, a new investment campaign is on the verge of surpassing its $5 million goal by the deadline of August 10.
The latest round of funding has garnered support from both private and institutional investors, with JC Team Capital, a previous backer of Virtuix, leading the investment round. Parth Jani, the founder and CEO of JC Team, will join Virtuix’s board of directors as part of this collaboration. The funding infusion is earmarked for accelerating the production of the Omni One and achieving profitability by 2024.
The Omni One, a VR treadmill system, has already commenced the delivery of beta units to 8,000 investors, with plans to ship 1,000 units by the end of 2023 and the remaining units in the first quarter of 2024. Pre-orders for the general public are expected to open in late 2023.
The Omni One comprises a base resembling a satellite dish, allowing VR players to glide over it using specialized shoes. Sensors track these movements, translating them into the virtual reality experience, creating the sensation of physical movement in virtual worlds. Safety is ensured through belts attached to a movable arm.
Positioned as a “complete entertainment system,” the Omni One comes bundled with the Pico Neo 3 Pro VR headset and operates independently without the need for a PC or additional accessories. The system includes its own game store, albeit with limited offerings. Virtuix plans to expand its game library, aiming for 30 games by the end of the year, including adapted titles from other VR platforms using the Omni-One SDK.
Virtuix founder and CEO, Jan Goetgeluk, expressed confidence in the product’s market appeal, stating, “We already have a waitlist of 35,000 interested customers, and shipping just 3,000 units a month would bring in $100 million in annual revenues. We’re ready to scale.” Initially, only US shipments are planned, with international customers expected to be served starting in 2024.
While the Omni One is positioned as a premium VR experience, it comes with an introductory price of $2,595 plus shipping. Virtuix investors will benefit from a discount of at least 20 percent. For those seeking a more budget-friendly alternative, KatVR offers the Kat Walk C2 Core VR treadmill with a base price of $899, featuring broader compatibility with VR games across popular platforms.
By Impact Lab