Health-focused simulation platform FundamentalVR received a $20 million investment led by EQT Life Sciences. Downing Ventures also participated in the investment round. With this new investment, the company’s total investment amount has reached 30 million dollars.
Founded in London in 2012, the startup describes itself as a deep IP company working at the intersection of mixed reality (XR), dermal perception (haptic) and machine learning. The startup’s SaaS platform combines virtual reality (VR) with dermal perception (haptic). It is possible to say that FundamentalVR is positioned as a training platform especially for spine surgery and orthopedic joint surgeries. It should be noted that it is preferred for procedures that require delicacy such as hip and knee prosthesis.
In fact, the venture can supply hardware to certain business partners and institutions within the scope of commercial agreements beyond offering a platform. However, companies generally prefer to use their own existing hardware. Hardware that can be used for the platform includes VR headsets such as Oculus Quest and HTC Vive, MR products such as Holo Lens and Magic Leap. FundamentalVR CEO Richard Vincent says the platform is ready to support any hardware sold on Amazon.
FundamentalVR’s clients include Novartis, Mayo Clinic, NYU Langone, UCLA, UCLH, Imperial College in the UK, and Sana Kliniken, the teaching and research hospital network in Germany.
The venture’s competitors are Medical Realities , ImmersiveTouch , and OssoVR, which recently closed its $66 million investment round.