VR training platform FundamentalVR has closed a £4.3m Series A funding round.
The firm’s education platform, Fundamental Surgery, offers surgical simulation software system that uses haptic feedback alongside VR, which together simulate visual and touch feedback for training surgeons.
Founded in 2012, the London firm’s technology allows for measurable and repeatable scenarios which surgeons can use to refine their skill.
Led by Downing Ventures, the funding round also had participation from Epic Private Equity and Bighteyes Ventures.
US-based Mayo Clinic and European medical organisation Sana Kliniken – the third largest hospital organisation in Germany – also participated in the funding round.
The funding round included a $500,000 convertible loan note conversion.
Tern CEO, Al Sisto, said, “We identified early on that FundamentalVR’s team was developing a platform that was very special. A training and data analysis offering which could revolutionise the skills development of surgical practice, while at the same time creating a database of significant importance to the industry.
“We are delighted that the value and relevance of this exciting business and its entire staff has been recognised by this outstanding syndicate of new investors we helped solidify.”
“This is an important milestone for FundamentalVR and it epitomises Tern’s strategy to invest in great teams and ideas, not only through the provision of capital, but also with active support and advice for the benefit of our shareholders.
“Changing the approach to learning and deploying new procedures and products in the world of healthcare is of critical importance for everyone’s future and FundamentalVR is leading the way. We look forward to announcing further important developments from the company.”