FundamentalVR, a London-based immersive simulation platform for health care professionals, has scored $20 million in Series B funding. The investment was led by EQT Life Sciences, joined by Downing Ventures (that backed Virtuoso). This round follows the Series A round it secured back in 2021 and the total funding raised by the company accounts for $30 million.
Focuses on US expansion
This latest investment will be used for further development, machine learning data insights, and expansion throughout the United States. Also, it will be used to accelerate medical skill transfer and increase surgical proficiency through its medical simulation platform, Fundamental Surgery.
It will Drew Burdon, Partner at EQT Life Sciences will be joining the FundamentalVR board of directors as part of the round.
“With increasingly complex surgical procedures, it is important to provide medical professionals with new methods for surgical skills transfer and continued training and education while managing both the cost and time burden associated with these activities,” said Drew Burdon, Partner at EQT Life Sciences. “HapticVR is a differentiated approach which has already been adopted by a number of high-quality customers, in a short period of time, demonstrating the value that this system can add today.”
“Our platform can conduct a walkthrough of a procedure through to a full operation, facilitating surgical skills transfer -– which is why we have been enthusiastically embraced throughout the medical industry, from med-device manufacturers to pharmaceuticals,” said FundamentalVR co-Founder and CEO Richard Vincent, in a press release. “Our immersive environments transform surgical skills acquisition in a scalable, low-cost, multiuser way. We are excited to scale our vision of creating a medical education environment unhindered by borders.”
VR medical simulation platform
FundamentalVR was founded by Chris Scattergood and Richard Vincent in 2021 to combine virtual and mixed reality with haptic feedback using their ‘FeelRealVR’ platform to create simulated surgical procedures to help educate and train healthcare professionals. Using virtual reality and haptics through data, artificial intelligence, and multimodal learning, the HapticVR technology mimics the physical touch of surgical actions. With this program, doctors can train from anywhere in the world and give students the real feeling of performing surgery.
The Fundamental Surgery platform is a medical education platform delivering multimodal simulation and education across tethered and all-in-one VR, mixed reality, and mobile, harnessing the very latest AI techniques. It is the only global platform to have achieved educational accreditation from leading medical institutions such as the AAOS and Royal College of Surgeons England.
All-in-one HMDs deliver scalability and ease of use. With simple, low-cost, quick setup capability the all-in-one headset offers the opportunity to push immersive experiences to a much wider user group.