Virtuix Omni Net Worth

Virtuix Omni is a virtual reality gaming company that appeared on Shark Tank and was valued at $20 million. Its current net worth is unknown as of 2022. Despite being rejected by investors, the company has experienced tremendous growth.

What is Virtuix Omni and Who is the Founder of Virtuix Omni?

The Virtuix Omni is a treadmill simulator that allows for omnidirectional movement and is designed for use with virtual reality games and other applications. To replicate locomotion, the treadmill employs a platform that requires special shoes or shoe coverings and a friction-reducing surface.

The founder of Virtuix Omni is Jan Goetgeluk, who left his job in investment banking to focus on the idea.

He invested 12 months of his time and $200,000 of his own money to create a prototype, which initially used fake shoes and Inject software to detect movement instead of the sensor technology that is part of the final product.

The Virtuix Omni works in conjunction with the HTC Vive to enable users to walk inside a limited selection of games. In 2013, Jan Goetgeluk filed a patent application for his Locomotion System and Apparatus.

The Omni prototype was showcased at the 2013 Electronic Entertainment Expo in Los Angeles, California, and received coverage from various electronic magazines, including Engadget and The Verge.

In June 2013, Virtuix started a Kickstarter campaign to raise funds for manufacturing, and it was quickly sponsored by Palmer Luckey, the inventor of Oculus Rift. Within three and a half hours of the campaign’s launch, it had surpassed its $150,000 funding goal.

When the campaign ended, it had raised a total of $1.1 million, making it one of the top ten largest technology crowdfunding efforts at that time.

Virtuix Omni Shark Tank pitch

After raising over $1 million on Kickstarter, Jan Goetgeluk went on Shark Tank to pitch his virtual reality technology. He requested $2 million in exchange for 10% of the company, valuing it at $20 million.

Goetgeluk explained that the Virtuix Omni is an omnidirectional treadmill that allows gamers to move freely within virtual reality games using specially designed shoes. Despite skepticism from the Sharks, Goetgeluk had sold 3,000 units during the Kickstarter campaign and was selling the product for $499 on his website.

However, the Sharks ultimately declined to invest due to concerns about market competition, lack of interest from gamers, and the product’s large size.

After leaving the show empty-handed, Virtuix Omni secured funding from other investors, including Mark Cuban, and raised $3 million in seed funding.

The company continued to develop and improve the product, introducing the Omni Arena in 2019, a small enclosed space with multiple treadmills. The company raised an additional $19 million through crowdfunding in 2021 and is currently exploring new harness designs to improve player stability within the Omni Ring.

Competitors of Virtuix Omni

The company has many competitors and including; Klang Games, First Contact Entertainment, Survios, and ForeVR Games.

Net Worth of Virtuix Omni

During the pitch, the company valuation was estimated at $20 million, and currently has made a lot of sales with also investment in other ventures have invested from the company and therefore the value has increased in 2021.

Virtuix Omni FAQs

What is Virtuix Omni?

Virtuix Omni is a game component that brings virtual reality gaming to life. Combining virtual reality headsets, like the Oculus Rift, with the Virtuix Omni allows players to move naturally in first-person shooter games or walk through virtual environments.

Who is the founder?

Jan Goetgeluk founded Virtuix Omni in will have its based in Austin, Texas.

What is their offer on Shark tank?

Jan Goetgeluk enters the Shark Tank pitch looking for $2 million for 10% ownership shares in his firm, valuing the company at $20 million during the pitch.

Did he get the deal?

No, he didn’t get an offer from the Sharks and went on to launch a Kickstarter campaign for $150,000 and he gets half of it and raise $1 million.

What happened to the Omni thereafter?

The company has raised $19 million in Crowdfunding and has launched the Omni, which is a small enclosed space that houses many Omni treadmills.

Is still in business?

Yes, the company is currently exploring designs for other gaming devices that will allow users to experience virtual reality gaming while standing up rather than sitting down for extended periods.

In what industries does Virtuix Omni work?

The product is being developed to support virtual reality gaming on both the desktop and mobile platforms. It has clear applications in film and television and AR and VR.

When can I buy my Virtuix Omni?

Right now, the Omni can be preordered for $499.

How does it work?

The system uses special shoes, which are attached to a ring-shaped moving platform. The feet are fitted with sensors so that computer games can track players’ movements and translate them into actions within the game.

Games using the Omni have been shown to include virtual reality headsets, such as the Oculus Rift. The system also includes a control box that can be used to move within the game.

How is the business model?

The product comes with a licensing agreement that allows both hardware and software developers to use the product for their games. Patents are also being used to protect the Omni’s design.

Is the company profitable?

Yes, the company is currently profitable.

Is the product safe to wear?

The Omni’s design features an internal ring, which allows the user to freely move around while standing up. The cushioning system ensures that users do not bump into anything while standing up.

What other products does the company offer?

Jan Goetgeluk also offer another gaming accessory called, HÜrtz Stuffs (2012), that is available for $39.95 on Amazon and it gets excellent reviews.

What are the pros?

The system is affordable compared to other gaming accessories. The platform offers a realistic gaming experience due to its flexibility.

What are the cons?

Lack of space is a major drawback for many users, which is one of the factors that prevent them from buying this product.

The Oculus Rift has been designed specifically to be used in conjunction with this product, but there is concern about whether it will be compatible with other models.

What are the alternatives?

Although these gaming accessories are not suitable for gamers who prefer to sit down in virtual reality, there are other similar products that you could consider.

What’s the company outlook?

They should know that with the many competitors in this market, it’s tough to predict how well Virtuix Omni will do. The company will most likely find several applications for the product, which could help boost sales over time.

The method and an apparatus for providing virtual reality walking or running, experience without a physical walking or running surface.

Is it legit?

Yes, the company is legit.

Are they taking applications?

Yes, User can apply on their website. https://www.virtuix.com/apply

Are there any hidden charges?

No, it’s 100% free.