FundamentalVR builds a medical-simulation platform that combines virtual reality and haptics with data, artificial intelligence, and multimodal learning. Led by CEO Richard Vincent, the company delivers immersive multi-user 'Blended VR' simulations underpinned by HapticVRTM interactions on the Fundamental Surgery platform. The platform enables full rehearsal of medical and surgical procedures and provides deep data insight into competency and skills development to drive consistency and compliance across training programs. Its high-fidelity simulations are deployed in over 30 countries and help life-science, pharmaceutical, and med-device companies deploy innovations across disciplines from ophthalmology to robotics and gene therapy. FundamentalVR intends to use the new funding to further develop HapticVRTM and to expand geographically throughout the U.S. The company has raised over $30 million to date following the latest round. FundamentalVR has developed a virtual reality training and data analysis platform often described as a “flight simulator for surgeons.” Its Fundamental Surgery education platform is the first surgical simulation software to deploy HapticVR, which combines VR with advanced haptics to recreate the sense of touch. The technology has been recognised by The New York Times and Fast Company, was named to TIME Magazine’s Top 50 inventions of 2018, and received SXSW’s Interactive Innovation Award in 2019. The new funding is aimed at developing the company’s flight-simulator-style offering for surgical training. The Series A included conversion of a £0.5 million convertible loan note and resulted in a £11.3 million post-money valuation. Strategic medical backers such as Mayo Clinic and Sana Kliniken joined the round alongside venture investors. FundamentalVR is a London, UK and Boston, MA–based virtual reality training and data analysis technology platform. Led by CEO and founder Richard Vincent, the company offers Fundamental Surgery, a SaaS platform that combines virtual reality with haptics to create a low-cost, scalable flight-simulator experience for trainee and qualified surgeons. The company raised £1.1m in funding from Tern Plc (AIM: TERN) to continue development of its platform. It signed a three-year agreement with Mayo Clinic to deploy Fundamental Surgery in its centers of excellence and to jointly develop immersive new products. Mayo Clinic is deploying the company’s current surgical training simulations in its centers in Arizona, Florida and Minnesota to help train surgeons on spinal pedicle screw placement, posterior hip replacement and total knee arthroplasty procedures. The funding will be used to continue FundamentalVR’s efforts to develop its platform.

Total raised

$28M

Funding rounds

4

Latest round

Series B

Latest activity

Aug 2022