Virtuix Omni Shark Tank Update | What Happened to Virtuix Omni after the Shark Tank?
What is Virtuix Omni?
The Virtuix Omni is an omnidirectional treadmill simulator designed for use with virtual reality games and other applications.
It employs a platform to replicate locomotion, or walking action, necessitating both special shoes or shoe coverings and a friction-reducing surface.
Jan Goetgeluk established Virtuix Omni. He left his investment banking career to work on the idea, devoting 12 months of his time and $200,000 of his own money to create a prototype.
Instead of the sensor technology that became part of the final product, the Omni prototype employed fake shoes and Inject software to detect movement.
It works in tandem with the HTC Vive and allows a vive user to walk inside a restricted selection of games.
Who is the Founder of Virtuix Omni?
Virtuix Omni was founded by Jan Goetgeluk. He quit his job in investment banking to focus on the idea, dedicating 12 months of his time and $200,000 of his own money to developing a prototype.
On October 23, 2013, he filed a patent application in the United States for his Locomotion System and Apparatus.
Virtuix displayed the Omni prototype at the 2013 Electronic Entertainment Expo in Los Angeles, California, and it was reported by Engadget and other electronic magazines, including The Verge.
In June 2013, Virtuix started a Kickstarter effort to gather funds for manufacture.
Palmer Luckey, the inventor of Oculus Rift, sponsored the campaign, which quickly surpassed its $150,000 funding target within three and a half hours of its launch.
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 the time.
What Happened to Virtuix Omni at Shark Tank pitch?
Jan Goetgeluk chose to take his virtual reality to the Shark Tank after raising a whopping $1,109,351 on Kickstarter and aiming for $150,000.
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.
He then explains to the Sharks that the specifically constructed shoes allow gamers to move freely within a computer game world, allowing them to walk, run, leap, crouch, or strafe, as well as do any other movement encoded into a game’s keyboard interface.
The Virtuix Omni, which sounds like science fiction, is a game component that brings virtual reality gaming to life.
However, he said that during the Kickstarter campaign, he sold 3,000 units, that he was also selling the Virtuix Omni for $499 on his website, and that the Kickstarter campaign collected more than $1 million.
Mark Cuban adds that the Omni is linked to the Oculus Rift, a virtual reality headset.
Kevin O’Leary disputes the valuation, and Barbara Corcoran believes spouses will complain to the amount of room the Virtuix Omni consumes in the home.
Robert Herjavec agrees with Daymond John that not enough players will desire to be physically involved with their games.
Mark Cuban feels that the niche is too narrow and that the market is too competitive, and as a result, all of the Sharks leave the Shark Tank and Jan walks away without a deal.
What Happened to Virtuix Omni after the Shark Tank?
After the deal with the Sharks investors fell through, Virtuix Omni gained a larger potential market and was forced to make an investment by joining up with other investors, including billionaire investor Mark Cuban, who joined other venture capitalists in raising $3 million in seed funding for the Virtuix Omni VR treadmill.
Gamers are salivating over the Oculus Rift’s immersive experience, and the Omni takes those experiences to the next level.
Not only will hard-core gamers seek out this new technology, but parents will welcome the opportunity to get their children off the sofa and moving as part of their time spent playing video games.
It may also have uses in other domains, such as military combat training.
The Virtuix Omni symbolizes a new video gaming trend.
In 2019, the business introduced the Omni Arena, a small, enclosed space that houses many Omni treadmills. They are available at Dave and Busters, Sky Zone, and other locations.
Because it sits on top of the Omni Ring, the player may spin quickly while walking, jogging, or running without having to rotate the vertical support with them.
The motion tracking has also improved since the game’s first release, allowing for a greater range of player speed. For enhanced comfort and flexibility of mobility, including crouching and jumping, the employs a vest rather than a harness.
In 2021, the firm collected $19 million through Crowdfunding, and the company is now exploring harness designs that keep the player steady in the Ring without the use of leg straps.
Competitors of Virtuix Omni
The company have many competitors and these include; 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 makes a lot of sales with also investment with for other ventures have invested from the company and therefore the value have increase 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.
