Digital therapeutics startup Wundrsight raises $400,000 led IPV, angels

Digital therapeutics startup Wundrsight has raised $400,000 in a seed funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

The round also saw participation from Social Alpha and other angel investors.

The startup plans to use the funds to expand its network of partnerships with hospitals and clinics across India while also accelerating the development of its VR-based mental health solutions.

Offering VR, AI-based therapy platform

Founded in 2022, Wundrsight offers a Virtual Reality (VR) and AI-based therapy platform specifically designed for mental healthcare management.

The startup focuses on digitising and standardising mental health therapy through immersive VR technology.

It aims to deliver accessible, effective, and personalized care for various mental health conditions, including Substance Use Disorders, Obsessive-Compulsive Disorder (OCD), anxiety, phobias, autism, and dementia.

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Who are the founders?

Wundrsight was co-founded by Raunak Swarnkar, an IIT GN-Alumni with over five years of experience in AI/ML, neuroscience, and medical devices, and Nishtha Budhiraja, a psychologist with more than a decade of clinical experience.

Notably, the startup is backed by key industry players, including Meta (Facebook parent company), DLabs at the Indian School of Business, IIT Mandi Catalyst, and NASSCOM. 

“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."

Focused on expansion

Swarnkar said that the startup is looking to enter the US market, where VR therapy has received CPT codes for reimbursement from insurance providers.

Currently operating in three metro cities in India, Wundrsight has already secured contracts with over five hospitals, with more partnerships, including those with government and private hospitals, on the horizon.

The Indian mental health market valuation is projected to reach approximately $62.86 billion by 2032, up from $6.89 billion in 2023, with a compound annual growth rate (CAGR) of 28.16%1.