Digital therapeutics company Wundrsight raised $400K Seed funding from IPV
A digital therapeutics company called Wundrsight has raised $400K in its seed 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 will be used to accelerate the development of its VR-based mental health solutions and broaden its network of hospital and clinic partnerships throughout India.
Raunak Swarnkar co-founded Wundrsight, a company that uses 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 backed the startup.
Wundrsight, which is presently present in three major cities, states that it has agreements with more than five hospitals and is actively forming partnerships with more government and private hospitals.
The startup, 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 conditions, including substance use disorders, OCD, anxiety, phobias, and autism.
Based on market research, the mental health market in India is expected to grow at a compound annual growth rate (CAGR) of 28.16%, from $6.89 billion in 2023 to roughly $62.86 billion by 2032.
