$20 million has been invested in a firm that offers a platform that enables surgeons to practice virtual operations in a secure environment.
According to FundamentalVR, a London-based company, the Series B funding will support technical advancement and growth in the US.
FundamentalVR Co-Founder and Chief Executive Richard Vincent stated in a prepared statement that “Our platform can conduct a walkthrough of a surgery through to a full operation, aiding surgical skills transfer.” This is the reason that the medical industry—from pharmaceutical companies to makers of medical devices—has warmly welcomed us. Our immersive environments alter surgical skill development in a scalable, economical, and multiuser way. We are keen to achieve our aim of creating a setting where there are no obstacles to medical education.
In the most recent round, which raised the total amount of venture capital invested in FundmentalVR to $30 million, Downing Ventures and EQT Life Sciences reportedly took part. As part of the agreement, Drew Burdon, an EQT Life Sciences Partner, will join the board of doctors for FundamentalVR.
In the press release, Burdon emphasized the need of introducing medical professionals to fresh approaches for teaching surgeons new skills and providing continuous training and education while keeping costs and workloads under control. “HapticVR is a fresh approach that has attracted a lot of high-quality clients fast, illustrating the value that this technology can offer right now.”
In 2001, Chris Scattergood and Vincent co-founded FundamentalVR. “The HapticVR technology uses data, artificial intelligence, and multimodal learning to recreate the physical touch of surgical tasks utilizing virtual reality and haptics. Surgeons may take part in this effort from anywhere in the world, and they will provide trainees a genuine surgical experience, according to the press release.
Virtual training is available in more than 30 countries, claims FundamentalVR. It has been a hot topic to debate whether regulation is keeping up with innovation in the field of healthcare technology.
