Omni One starts shipping to equity investors and hits consumers in Q2 2024

Virtuix, the developer of the omni-directional treadmill for virtual reality games, said it plans to release its consumer version of the treadmill, the Omni One, in the second quarter of 2024.

The company has begun shipping beta units to its community of 8,000 equity investors, who have the opportunity to order the product ahead of the general public. Virtuix aims to ship over 1,000 units by year-end and to deliver all remaining units for investors in Q1 2024.

The Omni One is designed to fit inside a living room or any other place in the home. It is lighter and more compact than the commercial version, Omni Pro, with a four-foot diameter. It allows VR game players freedom of movement, including crouching, kneeling, and jumping. For the general public, preorders
will open in late 2023 and deliveries will start in Q2 2024.

The crowdfunding campaign for the Omni One, launched earlier this year, has already attracted over $4.5 million of its $5 million target. Virtuix has decided to bring the crowdfunding campaign to an early close on August 10.

“We’re thrilled about the success of our investment campaign and our community’s excitement about Omni One,” said Jan Goetgeluk, Virtuix’s founder and CEO, in a statement. “Omni One is a groundbreaking product that sets us up for rapid revenue growth. 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.”

Omni One’s introductory price is $2,595 plus shipping, or as low as $65/month on a payment plan. Virtuix’s investors are first in line to order an Omni One system and get exclusive discounts of 20% (worth $520) or more.

Virtuix has raised more than $35 million from individual and institutional investors, including JC Team Capital, a prior investor, which is also a lead investor in the round. JC Team’s founder and CEO, Parth Jani, will join Virtuix’s board. Virtuix intends to use the funding to ramp up production of Omni One and reach profitability in 2024. Virtuix has 51 employees.

Virtuix has installed more than 70 Omni Arena systems in the U.S. and has shipped over 4,000 Omni Pro systems to more than 500 commercial entertainment venues around the world.

Omni Pro is ruggedized for commercial use, with a fixed support ring around the user’s waist. Omni One is designed for the home and has more much more freedom of movement (crouching, kneeling, jumping). It’s also easy to assemble / dissemble (no tools needed), and has wheels to move around.

“We love how Omni One gets our 8-year-old son off the couch,” said Dan Cabaniss, one of the first beta customers to receive Omni One. He plays on Omni One together with his son, Davis. “It’s an awesome and active experience. Getting a bit of a workout is really attractive.”

Goetgeluk has been working on Omni for a decade. The company is based in Austin, Texas.

Originally appeared on: TheSpuzz