Digital Therapeutics Startup Wundrsight Secures $400K in Seed Funding
Bengaluru
12-September-2024
Digital Therapeutics startup, Wundrsight, has secured $400K in seed round led by Inflection Point Ventures. Social Alpha has also joined the round along with other angel investors.
This investment will enable Wundrsight to expand its network of hospital and clinic partnerships across India and accelerate the development of its innovative VR-based mental health solutions.
Wundrsight is first in India to build Virtual Reality and AI based therapy platform for mental healthcare management.
Established in 2022, the company focuses on digitising and standardising mental health therapy using the immersive nature of Virtual Reality (VR). Their mission is to deliver accessible, effective, and personalised care for various mental, behavioral and neurocognitive health conditions, including Substance Use Disorders, OCD, Anxiety, Phobia, Autism, Dementia and more.
They have also been backed by Meta (Facebook parent), DLabs at Indian School of Business, IIT Mandi Catalyst, NASSCOM and others.
Raunak Swarnkar, Co-founder & CEO, an IIT GN-Alumni, brings over 5 years of experience leading product development across AI/ML, B2B SaaS, and R&D in Neuroscience and medical devices, with previous roles at TCS R&D, IBM, and RedSeer Consulting.
Nishtha Budhiraja, Co-founder & Chief Medical Officer, a psychologist with 10+ years of experience, has worked with over 5000 patients and holds a degree from the University of Essex, with prior clinical leadership roles at Loop Health, Cult.Fit.
Together, they are on a mission to build technology to solve for the current inefficiencies in delivering quality mental healthcare treatment to patients.
Vikram Ramasubramanian, Partner, 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."
He said 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.
Currently operating in 3 metro cities, they have already secured contracts with over 5 hospitals, with additional partnerships with leading private and government hospitals underway.
Offering more than 6 VR therapy products, the startup has successfully treated over 1000 patients across various mental health conditions, including Substance Use Disorders, OCD, Anxiety, Phobia, and Autism, with clinician-administered therapies.
“We’re at a pivotal moment in mental health care, especially now as innovative software-based medical devices are getting regulatory approvals for prescriptions,” said Raunak Swarnkar, Co-Founder & CEO of Wundrsight.
“Hospitals and clinics globally face immense pressure to provide high-quality, scalable mental health services despite a shortage of clinicians. Our VR-based solutions not only reduce the need for medication but also enhance clinician efficiency, allowing for safe, standardized and effective treatments.
"This funding will help us expand our reach and impact in India and APAC. We look forward to entering the US market next where VR therapy has received CPT codes for reimbursement from insurance providers.” - TWL Bureau
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