VR training sim developer FundamentalVR has raised $20 million in series B funding. Led by EQT Life Sciences and joined by Downing Ventures, this investment follows a series A round from last October. Between both rounds, the company has successfully raised over $30 million.
FundamentalVR’s medical simulation platform, Fundamental Surgery, is an interesting approach to medical training. Using HacpticVR, their patented haptic simulation technology, the program mimics the physical feel of performing medical procedures. With this program, doctors can train from anywhere in the world and give students the real feeling of performing surgery.
“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.”
This latest investment will go to further development, machine learning data insights, and expansion throughout the United States. Drew Burdon, Partner at EQT Life Sciences, will be joining the FundamentalVR board of directors as part of the transaction.
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“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 Burdon. “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.”
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