Virtuix Shark Tank Pitch
The Virtuix Omni is a virtual reality platform that allows you to be truly part of a video game on an omni directional treadmill. There are no moving parts, and you wear special shoes on the Virtuix Omni.
The Virtuix Omni can be played on any game and lets you walk, run, jump, and crouch with the virtual reality headset that puts you in the game.
They use the Oculus Rift Glasses in the demonstration. Their is a body strap that holds you on the Virtuix Omni. They sell for $499 and have sold $1.1 million worth through KickStarter.
Daymond asks if guys that play games will use this because most are plus sized.
The headset and the gun is not included in the price of the Virtuix Omni. The Rift is selling 200 a day.
Virtuix Episode Data
- Company: Virtuix – Website
- Entrepreneur: Jan Goetgeluk
- Ask: $2,000,000 for 10% equity
- Episode Season 5 Episode 511
- Companies in this episode:
- Bubba's Q BBQ
- Sharks in DC – Featured Update
- First Aired: 12/06/2013
- Deal: No Deal
What do the Shark Tank Investors say about Virtuix?
- Mark Cuban – gets what he is doing and can see the sales with it, but he is competing for consumer dollars and he doesn't see the future vision for their products so he is out.
- Daymond John – doesn't think people will buy it because it will wear them out to use this product. He is out.
- Kevin O'Leary – sees where they are going, but he does not think it is a good deal at twenty million dollars. The company is overvalued. He is out. Kevin says it is very interesting but they overpriced it.
- Barbara Corcoran – thinks this will be too hard to sell through retail, and the spouse would not go for this. She is out.
- Robert Herjavec – says that people who buy the headselt can still lounge. He will be a customer, but he doesn't see others buying it because they have to exercise to that degree. He is out.
Virtuix after Shark Tank
It turns out that Mark Cuban ends up investing in Virtuix Omni after all when the company raised $3 million. His investment company, Radical Investments made the deal.
It does appear the company is totally a commercial driven platform and is no longer marketing to the retail consumer market.