Digital therapeutics Startup 'Wundrsight' wins $400K in Seed Funding round
A digital therapeutics company, Wundrsight has raised $400K in its seed funding round, which was spearheaded by Inflection Point Ventures. Along with other angel investors, Social Alpha has also participated in the round.
According to a press release from the company, the money raised in the funding round will be used to accelerate the development of its VR-based mental health solutions and broaden its network of hospital and clinic collaborations throughout India.
Raunak Swarnkar co-founded Wundrsight, a company that employs virtual reality (VR) to standardize and digitize mental health therapy.
In addition, NASSCOM, IIT Mandi Catalyst, DLabs at the Indian School of Business, and Meta—the parent company of Facebook—have sponsored the venture.
Wundrsight, which is presently present in three major cities, states that it has agreements with more than five hospitals and is actively forming collaborations with more government and private hospitals.
The business, which offers more than six VR therapy products, has used clinician-administered therapies to treat over 1,000 patients with a range of mental health illnesses, including substance use disorders, OCD, anxiety, phobias, and autism.
Based on market research, the mental health industry in India is expected to develop at a compound annual growth rate (CAGR) of 28.16%, from $6.89 billion in 2023 to over $62.86 billion by 2032.
Expressing to this strategic investment, Vikram Ramasubramanian, Partner at Inflection Point Ventures, says, “The mental health crisis is more alarming than ever; solving it with just traditional methods is often limited to accessibility, personalized treatment, and engagement. Many people start therapy but frequently drop off due to ineffective retention and engagement strategies. Wundrsight is at the forefront of addressing these issues by bringing in digital therapeutic and mixed reality technology like Virtual Reality to create personalized, immersive, and effective mental health care experiences. VR augments current solutions, helping to retain and engage users more effectively, ensuring they achieve their results. At IPV, we believe in Wundrsight’s vision to make mental wellness accessible to all through technological innovation.”
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According to a press release from the company, the money raised in the funding round will be used to accelerate the development of its VR-based mental health solutions and broaden its network of hospital and clinic collaborations throughout India.
Raunak Swarnkar co-founded Wundrsight, a company that employs virtual reality (VR) to standardize and digitize mental health therapy.
In addition, NASSCOM, IIT Mandi Catalyst, DLabs at the Indian School of Business, and Meta—the parent company of Facebook—have sponsored the venture.
Wundrsight, which is presently present in three major cities, states that it has agreements with more than five hospitals and is actively forming collaborations with more government and private hospitals.
The business, which offers more than six VR therapy products, has used clinician-administered therapies to treat over 1,000 patients with a range of mental health illnesses, including substance use disorders, OCD, anxiety, phobias, and autism.
Based on market research, the mental health industry in India is expected to develop at a compound annual growth rate (CAGR) of 28.16%, from $6.89 billion in 2023 to over $62.86 billion by 2032.
Expressing to this strategic investment, Vikram Ramasubramanian, Partner at Inflection Point Ventures, says, “The mental health crisis is more alarming than ever; solving it with just traditional methods is often limited to accessibility, personalized treatment, and engagement. Many people start therapy but frequently drop off due to ineffective retention and engagement strategies. Wundrsight is at the forefront of addressing these issues by bringing in digital therapeutic and mixed reality technology like Virtual Reality to create personalized, immersive, and effective mental health care experiences. VR augments current solutions, helping to retain and engage users more effectively, ensuring they achieve their results. At IPV, we believe in Wundrsight’s vision to make mental wellness accessible to all through technological innovation.”
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