FundamentalVR has raised $5.6 million in funding for its virtual reality medical training and data analysis platform.
The funding included a $643,000 convertible loan note that was converted into an investment. Downing Ventures led the round, with participation from Epic Private Equity and Brighteyes Ventures. Medical institutions also participated in the round, including the Mayo Clinic and Sana Klinkiken in Germany. That’s a big endorsement for FundamentalVR.
FundamentalVR has created the Fundamental Surgery education platform, a surgical simulation software system that uses HapticVR, which combines VR with the sense of touch.
With a valuation of $14.5 million, the company is worth 27% more than it was when it raised $2.4 million in 2018. Following the round, Tern will own 26.9% of FundamentalVR.
“We identified early on that FundamentalVR’s team was developing a platform that was very special,” said Al Sisto, CEO of Tern, in a statement. “A training and data analysis offering which could revolutionize the skills development of surgical practice, while at the same time creating a database of significant importance to the industry.”
MediView XR also recently raised $4.5 million to give surgeons a kind of X-ray vision using augmented reality glasses and MRI data.