Introduction
Unlocked Reality is a virtual reality hardware accessories company focused on solving problems that Headsets, Treadmills, Slidemills, and Hand Trackers can’t solve.
Our team is building a solution for VR locomotion that allows users to move naturally and untethered while staying in one place.
Deal Highlights
Unlocked Reality is working to improve the entire virtual reality experience.
- Unlocked Reality’s platform aims to transform locomotion in a virtual environment. Say goodbye to rigs, harnesses, and clunky devices as our patent pending design provides freedom in movement.
- There is a huge demand for products that support VR, XR, AR and the metaverse. VR adoption stats for 2020 showed that there were 57.4 million VR users in the US and 90.9 million AR users, according to Finances Online.
- Our target market of enterprise is still in very early adoption of VR products. Capgemini Research Institute’s 2018 research showed that 82% of companies that are currently in the process of implementing AR and VR solutions say the benefits are either meeting or exceeding their expectations.
- The global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market is forecast to reach 30.7 billion U.S. dollars in 2021, rising to close to 300 billion U.S. dollars by 2024 [1]. Yet, we believe there are no great VR platforms.
- We believe Unlocked Reality has the marketing and product-design potential to spearhead the virtual reality movement.
Problem
Failure of natural immersion
Even though we are surrounded by all types of evolving tech, people have still not been given the access to allow their body to freely follow where their mind wanders in VR. With the power to fully immerse minds, Unlocked Reality has the opportunity to change the world.
VR headsets let you see with your eyes and hands, but how you move is still bounded & restricted. Currently, in the VR space, you have no control over your movement. In today’s landscape, common experiences include:
- Running out of play space
- Bumping into things
- Motion sickness
- Losing your sense of immersion
Although there have been attempts to give people mobility via treadmills, slide mills, & trackers, they all have fallen short of capturing true movement; this is due to the fact that your movements are being translated poorly.
Unlocked Reality is focused on providing users the ability to free the body to follow where the mind wanders.
Solution
The Goal: TRUE IMMERSION
- Allow natural movement
- Connect your body’s senses
- Enable untethered exploration in an alternate reality
We believe our patent pending method of dynamically reducing friction is unlike most other existing VR platforms. Using the platform (and shoes), we are working towards providing users the ability to move untethered as the friction keeps them in one place.
Dynamic friction reduction is achieved by controlling the users’ interaction with the ground or platform surface by physically changing their exposure to either a high or a low friction surface (dependent on the method) at specific times during a walking cycle in order to prevent the user from displacing themselves.
There are two different methods we could use to achieve this effect: An economic mechanical method that relies on ball transfer units and a much more robust method that relies on magnetic levitation. Magnetic levitation (maglev) enables an object to float above a solid surface. Ball transfer units utilize rolling friction to allow objects to slide over them fluidly.
Both methods are driven by machine learning. Using sensors, the algorithm can recognize:
- User’s unique gait pattern
- Tracks their activity
- Accurately predicts their movement
Using this prediction we can control the system to keep in step with the user and support any users’ movement naturally.
Currently we are planning on building individual-sized platforms, but our methodologies could be scalable to platforms of any size, from personal to multiuser.
Our Competition
Business Model
Unlocked Reality plans to sell directly to consumers and enterprises. We envision growing with enterprise clients through value-added resellers (VAR) and original equipment manufacturer (OEM) sales.
Through superior customer care, regular communication, cutting edge technology, and the announcement of new markets and new products, we believe excellent growth is possible. As the world’s technology advances, businesses begin to integrate VR to advance their work and more consumers acquire a personal VR Set, we believe the demand for true immersion, and Unlocked Reality’s platform are poised to grow.
Go To Market
Not only is the virtual reality and augmented reality market massive, but it is also going exponential.
In 2020, the global VR headset market size was valued at $7.81 Billion USD. From 2021-2028, it is expected to grow at a compound annual growth rate (CAGR) of 28.2%, according to Grand View Research.
We plan to be focusing on enterprise + consumer verticals where VR movement must be natural and fluid for a truly immersive experience.
Enterprise
- Physical Rehab & Therapy
- Enterprise Sales Training
- Healthcare - operating room training for doctors and nurses
- Military Simulation & Training - Army Catches RIDE to Extended Reality Future
- Engineering - virtual inspection of critical infrastructure
- Fitness - especially for pro/college athletes
- Remote Live Events - Worldwide access to Concerts & Shows
Consumer
- Location-Based VR experiences (Arcades)
- Gaming and Entertainment for home VR enthusiasts
- Travel Experiences i.e. virtual safaris over a terrain
Success to Date
- Patent Pending system and method
- Initial investment of $110,000
- Two maglev POCs complete
- Prototype for UR base Econ near complete
- Nominated for Rising VR Company of the Year (VR Awards In Nov ‘21)
- Concluded work on our first prototype
- Can match a similar fidelity of slide mills that already exist on the market, even with many incomplete key features
- Second prototype underway
- Upon completion, we plan to strive for a production-ready prototype
Company Vision
As we go forward, starting with locomotion, we plan to make a family of products to be the standard for fully immersive VR.
We are creating tools so people can have more meaningful experiences in VR and the Metaverse.
Just as we are working with the evolution of internet/web experiences through Web 2.0, we are building the building blocks for experiences with Web 3.0. VR needs tools to bring the rest of the body into Virtual Reality and those are what we intend to build.
Virtual Reality + MagLev = Next Level of the Metaverse
Press
Team
Graduate of UCSC, B.S. in Bioengineering: Cognition & Perception. User experience researcher. VR enthusiast of 9 years, designing VR accessories in his free time.
Graduate of SJSU, B.S. in Mechanical Engineering. The designer of all things involving physics and mechanics. Adept Maker, Workshop enthusiast.
Graduate of SJSU, B.S. in Computer Engineering. The developer of embedded systems and versatile in all things programming. Mechanical keyboard enthusiast.
Background in Computer Science and Graduate of UCSD, B.S. in Cognitive Science. The enthusiast and cultivator of all things Machine Learning.
Graduate of SJSU, B.S. in Electrical Engineering. The developer of circuitry and builder of electronics. PCB and power electronics enthusiast. Breadboard hacker.
CEO / Co-founder / CTO at NeuroRehabVR, a VR healthcare start-up building virtual/augmented reality training exercises for patients with neurological disorders. Using her many years of R&D experience she connects VR/AR and healthcare to enhance patient care and rehabilitation outcomes greatly.
Viral Influencer Campaign Creator | Social Media Influencer 1,880,000 + | Software & Tech Startup Go To Market Expert | Vice President At Studio Intake | For more see Studiointake.com
CEO of Studio Intake | B2B SaaS & Tech Startup Go To Market Expert | For more see Jackrichards.org
AI startup advisor ‘force multiplier’ who shapes serendipity by connecting and illuminating the dots that matter leveraging deep relationship capital with recognized personal brand. Currently advises 7 AI startups in #healthcare #futureofwork, #conversationalAI #emotionAI #XR and specializes in working with underestimated early stage AI startups balancing business strategy with smart execution. For more see https://www.forcemultipliersteveardire.com
Founder at Future Sight AR | Investor I Futurist | Writer | CEO Accelerator Mentor Creators and developers of Katana XR pioneering mixed reality work management solutions for construction, energy, defense and utility sectors.
Executive Producer at Amebous Labs VR game studio. and CEO at Futurus software development. Immersive content producer, specializing in engaging and interactive virtual reality and augmented reality experiences VR/AR Public Speaker, XRAtlanta Founder, Lover of all things future tech.
Engineering Team Experience Totals
3 years of machine learning, 6 years of programming experience, 4 years of mechanical design experience, 6 years of sensor usage experience, 4 years of electronics design experience, 2 years of power electronics design experience, and 3 years of UX experience design. We have also collectively completed numerous advanced robotics, electronics, and mechanical projects.
Footnotes
Use of Proceeds
If the offering's maximum amount of $600,000 is raised:
| Use | Value | % of Proceeds |
|---|---|---|
| Employees (hiring) | $275,680 | 45.9% |
| Research & Development | $189,420 | 31.6% |
| Marketing | $69,900 | 11.7% |
| Administrative & Legal | $35,600 | 5.9% |
| Intermediary fees | $29,400 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of CF Common Stock, under registration exemption 4(a)(6), in Unlocked Reality Inc.. This offering must reach its target of at least $10,000 by its offering deadline of April 8, 2022 at 9:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
Pitch Deck
Financials
These financial statements have been reviewed by an independent Certified Public Accountant.
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- Oct 1, 2024We’re excited to announce that our Kickstarter...
- Jul 19, 2023Thank you so much for all your continued...
- Apr 9, 2022Primary offering finalized, selling shares
- Apr 8, 2022Only a short amount of time remains to invest...
- Apr 7, 2022With the coming close of the raise, our CEO...
- Apr 7, 2022Less than 48 hours left until we close our...
- Apr 6, 2022Just a couple days left to make your...
- Mar 29, 2022Thank you to those that came out to Demo Day,...
- Mar 24, 2022The shortcomings of other VR platforms are...
- Mar 22, 2022Join us for Demo Day! We taking part in...
- Feb 14, 2022"What you may not know about Unlocked Reality"...
- Feb 4, 2022**We are extending the Campaign!** We have...
- Jan 25, 2022Follow us on all of our social media...
- Jan 24, 2022Watch a recording of our Live Q&A hosted by...
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