FundamentalVR

FundamentalVR is the provider of the “Fundamental Surgery,” a VR surgical simulation software that enables remote proctoring with unlimited multi-user collaboration capabilities to educate, train, and assess surgical skills of medical professionals. The platform has multiple modes of access including standalone headsets, such as Meta Quest headsets and tethered VR setups.  In June 2024, the company introduced an AI integration, providing real-time data assessments by tracking and analyzing user gestures through telemetry data. Additionally, the AI models are capable of calculating users’ risk levels of harming patients in real-time, allowing intervention and correction.

It also offers training modules in medical areas such as orthopedic, spine, ophthalmology, urology, robotics, and endovascular training. FundamentalVR’s patented haptic systems (“HapticVR”) deliver users the full sense of force-feedback touch, enabling procedural rehearsal in deep simulation with precise measurements. StandAloneVR, the variant of the platform for standalone devices, enables procedural walk-throughs, anatomy and environment familiarization, and testing. HapticVR and StandAloneVR are both supported by a data dashboard backed by AI and machine learning technologies to provide real-time training records and insights on user knowledge and skills.

In May 2023, the company launched the Fundamental Core SDK, allowing developers to create and distribute their own surgical and medical simulations. This includes the creation of multi-user and haptic feedback enabled experiences.

The company charges a one-time fee for the hardware equipment and an ongoing licensing fee for its platform. As of February 2022, Fundamental Surgery claims to be the only education platform that is fully accredited by the American Academy of Orthopaedic Surgeons (AAOS) and the Royal College of Surgeons.

Key customers and partnerships

The company’s clients include Pearson (a UK-based multinational publishing and education company), Novartis (a Swiss multinational pharmaceutical company), Boston Scientific (a leading medical device manufacturer), and Orbis (a non-profit organization focused on fighting avoidable blindness). Notable backers of FundamentalVR include leading US-based medical center operator Mayo Clinic and Sana Kliniken, Germany’s third-largest private hospital group.

Funding and financials

The company raised USD 20 million in a Series B funding round led by EQT Life Sciences in August 2022. The fresh funds were earmarked for its expansion across the US and product development initiatives.