# FundamentalVR

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fundamentalvr

- Industry: Software
- Headquarters: London, UK
- Website: www.fundamentalvr.com
- Total disclosed funding: $26M
- Latest round: Series B (Aug 11, 2022)
- Investors on record: 6

## About

Based in the UK, FundamentalVR specializes in advanced virtual reality training solutions that enhance surgical education through immersive technology.FundamentalVR, founded in 2012, operates out of London, UK, focusing on virtual reality solutions for surgical training. The company has raised a total of USD 20.00 mn across 6 deals, with its most recent funding of USD 20.00 mn in Series B on August 11, 2022, co-led by Downing Ventures and EQT Life Sciences. Founders Chris Scattergood and Richard Vincent have a background in healthcare technology, positioning the firm for strategic growth in the medical training sector.FundamentalVR primarily offers a suite of advanced virtual reality (VR) training solutions aimed at enhancing the surgical training landscape. Their flagship product, HapticVR®, utilizes patented kinesthetic haptic technology to simulate realistic sensations of bone, muscle, and soft tissue interactions with surgical tools, providing users with an immersive training experience. The StandaloneVR device allows medical professionals to rehearse procedures and engage in situational training remotely, while CollaborationVR serves as a virtual space for healthcare professionals to connect and practice, fostering teamwork without geographical limitations. Fundamental Surgery's offerings are targeted at healthcare professionals, including surgeons and medical device manufacturers, seeking to improve competency and confidence across various surgical specialties such as orthopedics, urology, and endovascular procedures. The company's products are deployed globally, with a notable presence in markets across Europe, North America, and Asia.FundamentalVR generates revenue through business-to-business (B2B) transactions, focusing on partnerships with medical institutions, healthcare providers, and medical device companies. Their pricing structure typically involves subscription models for access to their training platforms, alongside potential licensing fees for the use of their proprietary haptic technology. Clients engage in contracts that span multiple years, ensuring ongoing access to updates and new training modules. The company effectively monetizes its offerings by providing tailored training solutions that enhance the effectiveness of medical education and device adoption, leveraging products like HapticVR® and StandaloneVR as core elements of their revenue strategy. Additionally, the immersive nature of their VR solutions greatly improves the onboarding and training processes associated with new surgical devices, creating a compelling value proposition for healthcare organizations.FundamentalVR plans to utilize the USD 20.00 mn raised in Series B funding from August 2022 to develop their upcoming product, HapticVRTM, and expand geographically throughout the United States. The company is focused on launching HapticVRTM in the near term while strategically targeting new markets in North America to establish a stronger presence by the end of 2023.

## Funding rounds

- Series B, Aug 11, 2022, $20M — EQT Life Sciences, Downing
- Series A, Oct 30, 2019, $5.6M — Mayo Clinic Ventures, Epic Investment Partners, Sana Kliniken AG, Brighteye Ventures, Downing

## Investors

- Mayo Clinic Ventures (https://capitalatlas.ai/funds/mayo-clinic-ventures) — Series A
- Epic Investment Partners (https://capitalatlas.ai/funds/epic-investment-partners) — Series A
- Sana Kliniken AG — Series A
- Brighteye Ventures (https://capitalatlas.ai/funds/brighteye-ventures) — Series A
- Downing (https://capitalatlas.ai/funds/downing) — Series A, Series B
- EQT Life Sciences (https://capitalatlas.ai/funds/eqt-life-sciences) — Series B