AppliedVR, developer of digital reality rehabs, has scooped up $36 million in Collection B funding months after it shut a Series A round.
The Series B, that included investments from F-Prime Capital, JAZZ Endeavor Allies, Sway Ventures as well as SVB Ventures, brought the company’s overall raising to $71 million.
WHAT IT DOES
AppliedVR produces virtual reality innovation for healthcare applications, with systems in its pipeline for chronic discomfort management, severe postoperative pain and also anxiety.
Its EaseVRx tool, which received Breakthrough Device designation from the Food and Drug Administration in October 2020, integrates a virtual reality headset with aesthetic as well as audio programs that provide cognitive behavior modification to deal with fibromyalgia and also persistent lower back pain.
WHAT IT’S FOR
The business intends to make use of the investment to get ready for EaseVRx’s market launch pending FDA De Novo authorization, complete pilots with payers, build out its items in the pipeline, conduct medical studies as well as continue working on its virtual reality drug store platform.
” For also long, we have actually counted on the idea that individuals require to take pills or rely on surgical treatment to really feel far better and lead a better lifestyle. At AppliedVR, we’re developing an unequaled body of evidence for service providers and payers to demonstrate that immersive therapies can fill up the massive unmet requirement for patients who are annoyed by present treatment paradigms. As well as we are beginning with chronic discomfort, among the most complex, pricey conditions,” cofounder and CEO Matthew Stoudt claimed in a declaration.
” Our goal is to make immersive therapeutics obtainable to everybody, as well as this financing will certainly help better expand our body of proof, framework and distribution platform, allowing clients and carriers to capitalize on this next-generation restorative– while additionally reducing expenses for payers.”
MARKET PHOTO
In August, AppliedVR partnered with decentralized scientific test business Curebase to run 5 trials to check the performance of digital fact for treating chronic pain. It has actually carried out various other research studies on its tools, consisting of one released in JMIR in February.
Its Series A financing round introduced in March brought in $29 million.
Various other companies in the therapeutic digital truth room consist of XRHealth, which launched a new pain management program as well as increased $9 million previously this year, as well as Karuna Labs, which increased $3 million in seed funding in 2019.
An additional company that uses online truth to relieve discomfort as well as stress and anxiety during small medical procedures, Belgium-based Oncomfort, elevated EUR10 million ($11.8 million) in September 2020.
Leave a Comment