VR treadmill maker Virtuix runs toward a mini-IPO

Virtuix, maker of the Omni virtual reality treadmill, said today it will move ahead with a “mini-IPO” under new regulations that allow companies to raise money in a different way. The move comes after potential investors pledged a non-binding $29 million in funds toward the investment.

The Austin, Texas-based Virtuix has begun shipping the Omni, a new product that allows you to run on a treadmill-like platform while wearing virtual reality goggles. It enhances the feeling of presence, or being immersed in a virtual world, because it allows you to make use of your legs and run. Virtuix hopes to raise $10 million while the market is hot, as VR is poised to become a $30 billion market (all sectors and all platforms) by 2020, according to tech adviser Digi-Capital.