Virtuix Omni Shark Tank Update

What Is Virtuix Omni?

Virtuix Omni is a virtual reality platform that lets you play a video game on an omnidirectional treadmill and feel like you’re there. You must wear special shoes on Virtuix Omni, as it has no moving parts.

Virtualix Omni is a treadmill simulator that moves in any direction. The treadmill simulator operates in virtual reality. 

Virtuix Omni Shark Tank Update

It did not hurt its users because cutting-edge technology was used, such as a surface that didn’t create friction and shoes that didn’t hurt.

Company NameVirtuix Omni
EntrepreneurJan Goetgeluk
ProductOmni-Directional VR Gaming Treadmill Allows Unlimited 360-Degree Movement
Investment Asking For$2,000,000 for 10% equity in Virtuix Omni
Final DealNo Deal
SharkNo Shark
Episode Season 5 Episode 11
Business StatusIn Business
WebsiteVisit Website

Who Is The Founder Of Virtuix Omni?

Jan Goetgeluk, an innovator, founded Virtuix Omni Company. The Belgian native, who earned a degree in mechanical engineering in his home country, pursued higher education in the United States in 2001.

After graduation, Jan worked as an investment banker to save for his future startup. 

He became involved with a growing virtual reality community, where he became aware of Palmer Lucky and the virtual reality technology being developed by Oculus.

There was no way to accomplish the above scenario without developing an omnidirectional treadmill that could be rotated 360 degrees.

He pursued the Virtuix Omni prototype while working in investment banking in his spare time, which eventually failed.

Jan was a determined individual, and after some time, he developed a functional prototype. The Shark Tank provided the funding he needed to bring his concept to life.

Virtuix Omni Before Shark Tank

Tech-savvy people might be familiar with some virtual reality headsets – the HTC Vive is partnered with Valve, the Oculus Rift, and the Sony Morpheus.

Those familiar with virtual reality headsets will be puzzled by one particular issue: How are you supposed to walk around securely without damaging your $500+ investment and home? This is the first omnidirectional treadmill in the world, the Virtuix Omni.

Virtuix Omni acts as a companion for virtual reality, offering users a secure environment for roaming around freely in 360-degree environments. 

How Was The Shark Tank Pitch Of Virtuix Omni?

Jan appeared on Shark Tank with a $2 million investment request for 10% of Virtuix Omni.

Jan exits the Shark Tank without a deal after the final shark is out.

Final Deal: No deal between Sharks and Virtuix Omni.

What Happened To Virtuix Omni After Shark Tank?

Surprisingly, Mark and Robert did not invest in Virtuix Omni, but I understand their decision.

Virtuix Omni sold well, even if it didn’t have much money. The product sold well even though it didn’t appear on Shark Tank.

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Nonetheless, with Virtuix Omni’s popularity combined with the VR craze, this market was bound to be a success. You can get the Virtuix Omni for $699.

There are so many VR headsets that it is not known how many people have purchased the Virtuix Omni. 

Even if one-fifth of those who buy the Omni do so, the Omni should be around for a long time and allow people to immerse themselves in virtual reality.

Virtuix Omni Shark Tank Update

In “Shark Tank,” the Virtuix Omni did not succeed in its attempt to gain investment.

This was mostly since the Sharks considered it was way too dependent on the Oculus Rift, which was the primary reason behind this.

When Facebook decided to buy Oculus Rift for $2 billion in early 2014, however, the popularity of the Oculus Rift caused one of the Sharks to second-guess whether or not they should make a bid.

Mark Cuban, along with several other investors not associated with the show “Shark Tank,” contributed three million dollars to the company.

It is an extremely unusual occurrence for a deal to be closed outside of the Shark Tank.

When Virtuix Omni completed a capital round of $3 million, it was revealed that Mark Cuban would, in the end, invest in the company.

The transaction was carried out through his investment firm, Radical Investments.

It would appear that the Virtuix Omni is entirely a platform driven by commercial interests, and the company is no longer promoting to the retail consumer market.

In October of 2017, Virtuix launched OmniverseTM, Omni’s proprietary content distribution, and arcade management platform. This platform includes more than 20 of the best virtual reality games worldwide, all optimized for use with the Omni and use in location-based entertainment.

Thanks to Omniverse, the Omni can now be used as part of a comprehensive entertainment system for amusement parks.

Customers keep coming back to the platform to play due to the extensive selection of well-known games it provides and the leaderboard functionality it provides.

Virtuix Omni Shark Tank Update

Virtuix Omni makes playing video games more enjoyable. Mark Cuban seems to be riding this wave to success by dipping his toes in the water.

The company introduced the Omni Arena on January 1, 2019. The Omni treadmills are arranged in a small, enclosed space.

You can find them at Dave and Busters and Sky Zone. They can also be found in other places.

In March of 2019, Virtuix completed the installation of the world’s first Omni Arena, a multiplayer setup with built-in weekly and monthly esports competitions.

In addition to hosting esports competitions, Omni Arena provides its visitors with a comprehensive experience that includes the provision of a gameplay video after each session that can then be uploaded to various social media platforms.

The sensation of walking and running in virtual reality produces a level of immersion not seen before.

Omni Arena is the best multiplayer virtual reality attraction for virtual reality arcades and family entertainment centers worldwide due to its tiny footprint and affordable price.

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Mark Cuban helped the company raise $19 million in August 2021 to make Omni One through crowdfunding and money from Mark Cuban. The money was used to make Omni One.

Is Virtuix Omni Still In Business?

Virtuix announced the Omni One home entertainment system in 2020, reverting to the company’s initial objective of catering to the household market.

This company has raised $19 million from over 6,500 investors and will soon be taking pre-orders for the Omni One, a highly anticipated video game system.

Mark Cuban did invest in Virtuix Omni when the company raised $3 million. Mark Cuban’s investment firm, Radical Investments, handled the deal.

The company appears to have shifted entirely to a commercial model and is no longer selling to retail consumers.

What Is the Net Worth In Virtuix Omni?

The valuation of Virtuix Omni was $20 million when it appeared on Shark Tank. The net worth of Virtuix Omni is unknown as of 2022.