Medtech startup MedisimVR raises Rs 3.5 crore in a pre-Series A round led by Inflection Point Ventures

Cambridge and Chennai-based MedisimVR, a med-tech startup working in the field of healthcare simulation, today said it has raised Rs 3.5 crore (or US$458K) in a pre-Series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

The round also saw participation from Chennai Angels and Jana Balasubramaniam (MedTech investor). According to the statement, the raised funds will be used towards scaling its product offering and adding more skill training content to its library.

Founded in 2017, MediSimVR aims to make comprehensive medical training accessible and affordable across the world through its current offerings which include Procedural Simulation, Virtual Patient Simulation, and Clinical education. The startup claims to have onboarded almost 500 medical students in the last 4 months.

Sabarish Chandrasekaran, Co-Founder & CEO, MedisimVR, said, “The future healthcare workforce of India needs a futuristic training methodology and an alignment among visionary entities for rapid scaling up. At MediSimVR, we are excited to partner with IPV as we embark on this journey of change.”

Its key offerings include a Virtual Reality based skill training platform, that covers all the skills required in the MBBS curriculum. Some of the other features include performance analytics & evaluation metrics to better assess the learning pattern & competency, it said.

Speaking on the investment, Vinay Bansal, Founder & CEO of Inflection Point Ventures, said: "As the pandemic continues to trigger medical innovations both in vaccines and use of tech in health care. 2020 saw the emergence of tele-medicines and teleconsultations. As we enter the 3rd of the pandemic, the benefits of technology and use cases have also changed with the evolution of the health tech landscape. MediSimVR has understood this need for the healthcare industry to move one notch higher and adapt to new-age training technology for skilling medical students and healthcare professionals alike."

He further said Medisim's simulation skill training program, is where one can actually practice surgical training, encounter virtual patients scenarios, evaluate the learning metrics which will help the medical fraternity immensely. "We find MediSimVR as a purpose-driven brand in addition to being a disruptive business idea," he adds.

At present, The Global VR healthcare market is valued at $3.8 billion and projected to reach $30.40 billion by 2026. The market potential is huge, MediSimVR is aiming to facilitate medical students to learn, practice & hone their skills in a more accurate environment. MediSimVR marries the benefits of Virtual reality and Haptics and elevates healthcare training to a new dimension, it adds.

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