Osso VR funding a sign investors are hooked

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Osso VR says its $14 million investment is the biggest yet for a company focused on virtual reality surgical training. It’s also a sign that immersive technology for healthcare has investors hooked

Quick read

➨ Osso VR has raised $14 million in series A funding, in what it says is the biggest investment yet in virtual reality surgical training
➨ The investment from Kaiser Permanente Ventures, as well as SignalFire, GSR, Scrum Ventures, Leslie Ventures and OCA Ventures, is yet another sign that healthcare stands to benefit from rapid innovation in immersive technology
VRWorldTech has reported on seven other investments in healthcare-focused immersive technology companies since the beginning of 2020, with Nunaps ($4 million), Embodied Labs ($3 million), Oxford VR ($13 million), XRHealth ($7 million), Mojo Vision ($51 million), Proprio ($23 million) and Augmedics ($15 million) all securing funding this year

The story

Osso VR has raised $14 million in series A funding, taking the total invested in healthcare-focused immersive technology companies this year to at least $130 million.

US-based Osso VR, whose virtual reality surgical training platform is aimed at medical device companies, practising surgeons, residents and medical students of all skill levels, says its $14 million investment is the biggest yet for a company with its focus.

The investment from Kaiser Permanente Ventures, as well as SignalFire, GSR, Scrum Ventures, Leslie Ventures and OCA Ventures, is yet another sign that healthcare stands to benefit from rapid innovation in immersive technology.

VRWorldTech has reported on seven other investments in healthcare-focused immersive technology companies since the beginning of 2020, with Nunaps ($4 million), Embodied Labs ($3 million), Oxford VR ($13 million), XRHealth ($7 million), Mojo Vision ($51 million), Proprio ($23 million) and Augmedics ($15 million) all securing funding this year.

Mojo Vision was by far the biggest at $51 million. Its smart contact lens has obvious consumer applications, but development of the device as an aid for the visually impaired highlights the potential applications of the technology in healthcare, which is emerging as a firm base that can attract considerable investment.

Telehealth is proving attractive to investors, too. XRHealth raised $7 million in funding in April to expand its platform to support more clinicians and patients for virtual and augmented reality therapy.

This eighth investment, in virtual reality surgical training and Osso VR, demonstrates confidence in a platform that is currently in use at 20+ teaching hospitals and 11 medical device companies in 20 countries.

Investors clearly see potential for digitising this crucial yet resource-intensive process within the healthcare sector. As Amy Belt Raimundo, managing director of Kaiser Permanente Ventures, explained: “I have spent my career focused on the use of technology in clinical practice and know that proper training is critical to optimising patient outcomes. Being able to perform safe repetitions of procedures has great value, whether it’s for a new resident or an experienced physician who is learning an innovative procedure.”

“Virtual means of training eliminate the restrictions of geography and associated travel costs, so that training can scale regionally, nationally and globally. Nothing has underscored the value of the distributed training model more than the challenges presented by the Covid-19 pandemic.”

Wayne Hu, partner at SignalFire, continued: “Osso VR is one of the first companies to successfully commercialise VR as a scalable SaaS business offering an automated content creation engine. This delivers a transformational and lower-friction training modality than PDF guides and operating on cadavers.”

“Justin [Barad, chief executive officer and co-founder of Osso VR] and the team are a force of nature, tackling the incredibly important challenge of closing the healthcare training gap, and we’re proud to have backed them since the very beginning.”

Barad added: “We set out from day one with a focused mission: to improve patient outcomes, increase the adoption of higher value medical technology, and democratise access to surgical education around the world. Osso VR has done so much in such a short amount of time, yet we have much more to do. With strategic partners like Kaiser Permanente Ventures, we are ready to work together to ensure that patients all around the world have safe access to the best care.”

Are you aware of any further investments in healthcare-focused immersive technology companies this year? Let VRWorldTech know via Twitter, LinkedIn, Facebook or editor@vrworldtech.com.

Main image: Osso VR boasts cinematic visuals

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