AEXLAB, virtual reality (VR) technology studio, has raised over $560,000 on Start Engine in just two weeks through a Regulation Crowdfunding (Reg CF) offering. Regulation CF, also known as equity crowding, is similar to Regulation A and allows companies to raise funds from the public. Start Engine is the largest crowdfunding platform in the U.S. and is advised by Shark Tank’s Kevin O’Leary.

The company is raising capital to continue developing unparalleled VR technology that gives gamers superior immersive, interactive and social gaming experiences. AEXLAB is led by CEO Jonathan Ovadia, real estate developer and licensed general contractor in Florida. The virtual reality gaming market size is expected to reach $92.31 billion by 2027, expanding at a compound annual growth rate of 30.2% over the forecast period.

“When Facebook lowered the barrier of entry to VR by launching Quest 2 in September 2020, we knew this was an inflection point in the market. With Miami currently rebranding itself as a tech hub, we thought it was the perfect time to go public with VAIL, our first gaming franchise,” said Ovadia.

Founded in 2015, the firm’s proprietary systems include solutions for haptics, audio spatialization, firearm simulation, virtual reality human interfaces, and real-time social and gaming networking technology. The closed alpha of the upcoming VAIL franchise has attracted professional e-sports competitive players and enthusiastic casual players alike. AEXLAB has created numerous bespoke experiences for Red Bull, American Institute of Architects, Epic Games and Valve.

The desire for social interaction and an immersive experience in gaming has been accelerated by recent events. In VAIL, players load into an interactive space and invite friends to socialize before queuing up for matches. AEXLAB supports all major headset manufacturers including Lenovo, Hewlett Packard, Oculus, Valve, HTC, Windows Mixed Reality and more.

For more information visit www.startengine.com/aexlab.

By Katya Demina