AI Capital is a venture capital firm specializing in investing in early growth, post-revenue, enterprise applied artificial intelligence (AI) software companies and their respective data supply chains.  We are particularly interested in opportunities where AI-driven solutions are generating tangible business impact in sectors such as Healthcare, Life Sciences, Manufacturing, Food Supply, Energy and Public Safety/Cyber.   Based in Denver, we have partners in Baltimore, Boston, and Las Vegas. We bring a unique combination of AI and finance experts from prestigious institutions such as MIT, Johns Hopkins, Google’s DeepMind, Publicis Sapient, and The Carlyle Group having the technical, entrepreneurial and financial acumen to make intelligent investment decisions. The firm makes series A initial investments with capital reserved for follow-on series B rounds and will also consider late seed stage investments.

AI Capital

XRHealth

XRHealth is a medical device company that develops an XR (VR\AR) therapeutic platform. The company focuses on using immersive technologies to enhance patient care, improve medical treatments, and provide innovative solutions for various health-related challenges. XRHealth's platform includes VR and AR applications designed for therapeutic purposes, rehabilitation, mental health, and other healthcare interventions. These applications are often used to create immersive and engaging experiences for patients, contributing to more effective and personalized healthcare solutions.

XRHealth is a Massachusetts-based virtual reality (VR) startup providing remote patient monitoring (RPM) solutions. The company’s on-demand virtual care capabilities leverage US Food and Drug Administration approved and CE registered medical extended reality (XR) technology (virtual and augmented reality) to provide drug-free, personalized therapies with a focus on three main therapeutic areas: pain management, neurological disorders, and behavioral health. The AR/VR applications and PICO Neo 2 VR headset are administered by licensed XRHealth therapists.

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

XRHealth is a virtual reality (VR) startup providing remote patient monitoring (RPM) solutions. The company’s on-demand virtual care capabilities leverage FDA-approved and CE-registered medical extended reality (XR) technology (virtual and augmented reality) to provide drug-free, personalized therapies with a focus on three main therapeutic areas: pain management, neurological disorders, and behavioral health. The AR/VR applications and PICO Neo 2 VR headset are administered by licensed XRHealth therapists.

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

XRHealth operates virtual clinics by leveraging proprietary CE registered XR technology that is FDA approved. The platform also integrates licensed clinicians and advanced data analytics to provide remote patient monitoring (RPM) solutions. Advanced data analytics provide real-time data that can be used by clinicians to adjust training plans on the fly by monitoring patients’ VR sessions on the platform. The company’s on-demand remote virtual care solutions provide drug-free, personalized therapies. This includes real and virtual environments, games, and exercises that focus on physical therapy, behavioral health (stress, anger, depression), pain management, and memory and cognitive training. In June 2023, the company received a US patent for closed loop biofeedback, with the company’s tech being used to combine the Apple Watch with Apple’s Vision Pro headset.

Technologies bringing about a new reality

Extended Reality

XRHealth is one of Fast Company's Most Innovative Companies

Samsung Electronics

Samsung has partnered with XRHealth, a virtual clinic that offers physical and mental health therapy in the comfort of your own home. When the user starts exercising, the Galaxy Watch monitors their heart rate and vibrates when they reach their set range, acting as a pacer that tracks their heart rate in real time.

From counting steps to saving lives and beyond

Wearable Tech

Wearable devices in form factors, such as wristwear and rings, designed to monitor and track various aspects of a person's physical activity, health, and wellness

To send a modified version of its Vive Focus 3 VR headset to the International Space Station to test its viability for helping alleviate astronauts' mental stress.

Companies developing XR headsets and relevant sub-components (displays, sensors, and processors). Also includes complementary XR hardware (tracking devices, haptic vests, and gloves)

ByteDance

To provide ByteDance employees with virtual reality-based physical, occupational, and behavioral therapies, improving treatment adherence and employee productivity.

Companies offering AR/VR solutions or toolkits for specific industry applications, including VR game developers

XRHealth operates virtual clinics by leveraging proprietary CE registered XR technology that is FDA approved. The platform also integrates licensed clinicians and advanced data analytics to provide remote patient monitoring (RPM) solutions. Advanced data analytics provide real-time data that can be used by clinicians to adjust training plans on the fly by monitoring patients’ VR sessions on the platform. The company’s on-demand remote virtual care solutions provide drug-free, personalized therapies. This includes real and virtual environments, games, and exercises that focus on physical therapy, behavioral health (stress, anger, depression), pain management, and memory and cognitive training. In June 2023, the company received a US patent for closed loop biofeedback, with the company’s tech being used to combine the Apple Watch with Apple’s Vision Pro headset.The XRHealth package includes a VR headset, video calls, access to its mobile app (where users can communicate with an XRHealth therapist and track progress), personalized plan-of-care, and consistent updates based on the patient's progress. XRHealth sells directly to consumers through three out-of-pocket subscription-based pricing plans starting at ~USD 70 per week. It also partnered with insurance companies to cater to businesses and covered more than 50 million people as of February 2022. In <a href="https://sp-edge.com/updates/17834">April 2023 </a>, the company announced its intention to merge with Amelia VR, subject to shareholder approval, amongst other conditions.Funding and financialsThe company's most recent funding round was in <a href="https://sp-edge.com/updates/25373">January 2024</a>, where it raised USD 6 million in a round led by Asabys Partners. Funds were earmarked to bolster platform capabilities, focus on R&amp;D, invest in partnerships with healthcare organizations and improve marketing efforts.

Interplay Learning (Interplay) provides on-demand, interactive, and hands-on simulation learning courses for skilled trades, including HVAC, plumbing, electrical, solar, and facilities maintenance, through VR, mobile, and desktop applications. The learning courses also include simulated walkthrough videos where experts lead users through procedure guides methodically, with knowledge testing features and additional learning material such as wiring diagrams, equations, sample system configs, and charts at the end of each lesson. The platform also enables managers to track user progress.The company operates a subscription-based model with monthly packages for individuals (USD 54) and teams (USD 229), alongside a custom plan for larger organizations.In <a href="https://sp-edge.com/updates/33810">September 2024</a>, the company acquired Industrial Training International (ITI), enabling the company to provide immersive simulation training solutions for crane and rigging operations across various job sites.Key customers and partnershipsNotable customers include Tesla and Rheem Manufacturing. Interplay’s customer usage rose by 445% YoY in 2020. As of February 2021, the platform had over 2,000 customers and 110,000 users across the US.

Interplay Learning

Switzerland-based WayRay develops holographic AR technology and hardware for the automobile sector. Its technology is used in head-up displays (HUDs) that project images into a driver’s field of vision to assist with navigation. Although its initial focus was on developing HUDs that can be purchased and installed in any vehicle, it has since pivoted to producing embedded HUD systems (i.e., hardware built into vehicles). WayRay’s HUDs are considered to provide a wider field of vision and combine data (location and mapping information) with vision data to generate images by projecting a laser beam through a Picture Generating Unit (PGU) onto a Holographic Optical Element (HOE).&nbsp;In <a href="https://sp-edge.com/updates/18537">May 2023</a>, WayRay announced integration of its AR displays into Tesla Model 3's in Switzerland, with plans to follow shortly afterwards in the US. Previously, in September 2021 the company launched its deep reality system that replaces the traditional car dashboard. In addition, WayRay launched “The Holograktor” dubbed the first “metaverse on wheels”, which can be driven conventionally or using a remote control via a 5G and satellite connection (November 2021).&nbsp;The company’s founder and CEO, Vitaly Ponomarev, identified that its systems are more advanced, backed by more patents, and potentially 20x smaller than comparable devices in the market. WayRay’s HQ in Switzerland also acts as a product design and development hub, while its R&amp;D center and prototyping factory are based in Russia.&nbsp;Key customers and partnershipsThe company is backed by strategic investors such as luxury automaker Porsche, which highlighted the management’s expertise in space engineering, hardware, and software development as key reasons for its investment, Hyundai Motor Co., and Alibaba. It is also notable that these investors, particularly Hyundai, are looking at ways to potentially use WayRay’s technology to offer more services in the future. For instance, Hyundai believed that the technology could be used for smart cities and smart buildings, which are its new areas of interest.WayRay partnered with Karma Automotive, a producer of luxury electric vehicles, in December 2021 to support the implementation of its HUDs into their test fleet. Moreover, it partnered with a leader in designing and manufacturing specialty glass, AGP eGlass, in September 2021 to further proliferate its technology.&nbsp; Funding and financialsIt was reported in April 2021 that the company is considering a public listing at a USD 2 billion valuation via a SPAC, although no further updates on this have been announced as at January 2024.&nbsp;

WayRay

AmazeVR initially focused on developing VR technologies but pivoted to VR concerts in late 2019. The concerts are backed by proprietary 9K cameras and software that automate complex VR concert visual effects that run on more than 100 headsets simultaneously. Users join and hang out with other users as avatars while experiencing VR concerts. It intends to bring VR concerts by major artists to theaters and eventually, homes.AmazeVR rolled out its first commercial VR concert, which will feature 3x Grammy winner Megan Thee Stallion, in 2022. The artist is expected to tour select AMC Theaters across the US. It is also in the final stages of closing deals with its second and third artists. AmazeVR also revealed plans to release weekly content by 2024 in theaters and for at-home viewers.In <a href="https://sp-edge.com/updates/20145">July 2023</a>, AmazeVR launched its official AmazeVR Concerts app, featuring an exclusive VR concert from Swedish pop star, Zara Larsson. The app is available on major VR app stores, and the exclusive Zara Larsson VR concert can be accessed for a year at a launch price of USD 6.99. AmazeVR also produces and monetizes VR content on a subscription basis.As of August 2023, the company was in the process of producing and releasing mixed reality concerts by overlaying virtual elements onto live, real-world video.Funding and financialsThe company’s most recent funding was in <a href="https://sp-edge.com/updates/13338">September 2022</a>, when it raised USD 17 million in a Series B funding round led by Mirae Asset Capital. The fresh funds were allocated to expand partnerships with artists, artist management companies, labels, publishers, and agencies.

AmazeVR

Dispelix, based in Finland, designs and manufactures single-layer, full-color waveguide displays, a thin (about 1mm) transparent element that takes in a projected image and relays it to the eye, using a nanophotonics-based approach catering to AR applications (e.g., smart glasses). It uses laser beam scanning technology to render laser-sharp images with a gamut of color palettes, which are displayed using beam-combiner technology. Its patented and proprietary approach includes diffractive surface relief gratings, which are elements used for high-power laser applications, fabricated on high refractive index glass wafers that enhance field-of-view and image quality.The company had a total of more than 40 granted or pending patent families as of November 2021. Its product line, Dispelix DPX, includes Dispelix DPX - Ohut, Dispelix DPX - Selva, and Dispelix DPX - Sade with a varying degree of field of view, form factor, and weight. According to Co-Founder and CTO Juuso Olkkonen, its displays are the lightest and thinnest in the market.Key customers and partnerships1) Foxconn and Pegatron: to create reference designs for AR glasses based on its Selvä waveguide display (October 2023)&nbsp;2) VividQ: created a “waveguide combiner” which accurately displays variable-depth 3D content in a user’s environment (January 2023)3) ColorChip and Maradin: To further Light Beam Scanning (LBS) solutions for AR glasses (October 2022)4) Jade Bird Displays: To develop multiple reference designs for AR devices (June 2022)5) AAC Technologies: To improve waveguide displays for the AR and MR industry (March 2022)6) OQmented: for the development and commercialization of MEMS-based LBS technology (November 2021)7) Coretronic: To develop a range of AR optical module solutions (December 2020)8) Hoya Corporation: To improve quality of waveguide displays (November 2020)Funding and financialsIn its most recent funding round (November 2021), Dispelix raised USD 33 million in a Series B funding round co-led by Atlantic Bridge, CCB Trust, and Flashpoint with participation from Lifeline Ventures, VTT Ventures, and 3M Ventures. The funds were allocated to product development. It revealed that several OEM customers were slated to integrate its technology into their consumer offerings by 2023.

Dispelix

DigiLens is a developer of holographic waveguides, which is a clear, thin piece of glass or plastic, used for AR devices. In January 2023, the company launched ARGO, an XR smartglass designed for enterprise and industrial use, the first AR device to utilize Qualcomm’s SnapDragon XR2 platform. Other specifications included 6-degrees of freedom (6-DoF) tracking, a 30-degree field-of-view, spatial audio, a 48MP RGB camera, voice and gaze recognition, access to real-time data visualizations, and a 2,500-nits HD display.&nbsp;The company’s first product, the DigiLens Crystal was introduced in 2019, was a thin-film laser-etched photopolymer embedded with microscopic holograms of mirror-like optics. By projecting a micro display to one end of the lens and another set of optics working to guide the light wave toward the eye, this proved to be an ideal piece of hardware for AR devices, which are preferred with as little hardware as possible.&nbsp;It claims that its patented optical platform and photopolymer technology coupled with a holographic copy manufacturing process enable it to produce cheaper and more scalable solutions. In <a href="https://sp-edge.com/updates/17598">April 2023</a>, the company announced the launch of SRG+, a surface relief gratings product that improves upon its waveguide technology.The company generates revenue by licensing its technology across a range of industries including the automobile, enterprise, consumer, avionics, and military sectors. DigiLens also offers a white-label solution for automotive companies whereby it creates holographic waveguides for windshields that could offer in-cabin experiences for drivers.&nbsp;&nbsp; Key customers and partnershipsKey partnerships include that with1) Phantom Technologies: - Phantom Technology: To integrate Phantom's CASSI Spatial AI assistant into the DigiLens ARGO glasses, providing features such as spatial search, a contextual assistant, and task management using voice commands (October 2023)2) Wisear: To integrate its neural interface-powered earphones with the ARGO smart glasses (May 2023)3) Mojo Vision: To utilize Mojo Vision's micro-LED technology to build improved AR glasses (May 2023)4) Taqtile: To integrate the company's ARGO smart glasses with Taqtile's AR work platform, Manifest (May 2023)5) OMNIVISION: To develop new XR product offerings (January 2023)Other partnerships include that with OMNIVISION (January 2023), a leading global developer of semiconductor solutions to develop new XR product offerings. OMNIVISION’s liquid crystal on silicon (LCOS) panels allowed DigiLens to build LCOS/LED projectors optimized for its holographic waveguides. OMNIVISION's core camera technology provides DigiLens' devices with features such as visual odometry and six degrees of freedom.&nbsp;DigiLens also works with Taiwanese licensed waveguide manufacturer Young Optics, Chinese original design manufacturer and electronics supplier Malata, Korean display manufacturer Sekonix, international technology company Continental, Chinese optical elements manufacturer Crystal Optech, and Mitsubishi Chemical.&nbsp;Funding and financialsIn April 2022, DigiLens announced the second close of its Series D funding round (intiial close in November 2021) in which it raised USD 50 million at a valuation of USD 530 million. The funds were allocated for the development of DesignV1, its second-generation product.

DigiLens

Companies offering engines that enable the development of AR/VR content, also includes companies offering capabilities to capture and create 3D images for immersive environments

Companies offering location-based AR/VR experiences

AR/VR platforms offer remote assistance to field experts and headset manufacturers facilitate virtual work

Some solutions in the "content" segment are offered under a B2B SaaS model

Headsets and content segments provide the building blocks for the metaverse

AR, VR, and MR are the primary enabling technologies for the XR industry

XRHealth is a Massachusetts-based virtual reality (VR) startup providing remote patient monitoring (RPM) solutions. The company’s on-demand virtual care capabilities leverage US Food and Drug Administration approved and CE registered medical extended reality (XR) technology (virtual and augmented reality) to provide drug-free, personalized therapies with a focus on three main therapeutic areas: pain management, neurological disorders, and behavioral health. The AR/VR applications and PICO Neo 2 VR headset are administered by licensed XRHealth therapists.XRHealth offers three other products: Data Portal, External Control, and a mobile app. The company’s RPM solution, Data Portal, provides real-time, aggregated data of every measurement and training performed in the AR/VR applications, allowing therapists to view patient progress and adjust training plans. Therapists can also control and monitor live VR sessions and make adjustments in real-time using its XRHealth External Control software. The mobile app was developed for individual users, allowing them to track their progress and results, and view their digital training and treatment plan.&nbsp;As of <a href="https://www.xr.health/pricing/">August 2024</a> XRHealth operated in the D2C and B2B2C space, offering a three-tiered pricing plan starting at USD 276 per month, going up to USD 476 per month based on the features offered. As of <a href="https://www.xr.health/pricing/">August 2024</a>, XRHealth’s solutions were also available to customers as a covered benefit to more than 70 million people.&nbsp;Key customers and partnershipsIn <a href="https://www.prnewswire.com/news-releases/xrhealth-and-htc-introduce-the-first-distraction-therapy-virtual-reality-platform-to-improve-patient-experience-during-painful-or-anxiety-provoking-medical-procedures-301644309.html#:~:text=The%20new%20solution%20combines%20XRHealth,burn%20trauma%2C%20and%20many%20others.">October 2022</a>, the company partnered with HTC VIVE to develop and provide a distraction therapy virtual reality platform for patients undergoing painful or anxiety provoking medical procedures.In <a href="https://www.prnewswire.com/news-releases/xrhealth-adds-neuroreality-cognitive-training-to-virtual-clinics-301619415.html">September 2022</a>, the company partnered with NeuroReality to offer its cognitive training solution via XRHealth's virtual clinics. XRHealth users were given access to “Koji’s Quest”, NeuroReality’s neurological rehab solution for individuals who have suffered from strokes and brain injuries.

Nice healthcare is a virtual and in-home primary care provider that offers a suite of healthcare services to small and medium-sized businesses, including primary care, mental health therapy, and physical therapy. Nice healthcare operates on a fixed monthly fee per member model, allowing employees to access unlimited care without additional out-of-pocket costs. The company provides virtual consultations through its app, as well as in-home visits for physical exams, lab tests, and X-rays.&nbsp;As of <a href="https://www.nice.healthcare/locations">August 2024</a>, Nice Healthcare was operating in 12 states: Arizona, Colorado, Idaho, Iowa, Minnesota, Nebraska, Nevada, New Mexico, Oregon, Utah, Washington, and Wisconsin. The company's services covered <a href="https://www.nice.healthcare/the-nicessities/three-categories-of-primary-care#:~:text=Only%204%25%20of%20our%20patients,with%20Nice%20may%20look%20like.">over 95%</a> of issues patients typically discuss with their clinicians, with <a href="https://www.nice.healthcare/the-nicessities/three-categories-of-primary-care#:~:text=Only%204%25%20of%20our%20patients,with%20Nice%20may%20look%20like.">only 4%</a> of patients being referred to external specialists. The company employs nurse practitioners, registered nurses, physician assistants, and medical assistants to deliver care.As of <a href="https://www.nice.healthcare/the-nicessities/three-categories-of-primary-care">August 2024</a>, Nice healthcare offered 35 free labs and physical tests as well as in-home imaging services and prescribed over 550 free medications that could be picked up at over 60,000 pharmacies nationwide or delivered to patients' homes.&nbsp;Key customers and partnershipsIn <a href="https://www.prnewswire.com/news-releases/getlabs-and-nice-healthcare-partner-to-expand-access-to-virtual-healthcare-services-and-at-home-lab-testing-301813668.html">May 2023</a>, Nice Healthcare announced a partnership with Getlabs, a provider of at-home diagnostic collections. This collaboration aimed to expand access to in-home healthcare services and lab testing, allowing Nice healthcare patients to benefit from a more comprehensive suite of diagnostic tests.

Nice Healthcare

Amicomed is a cloud-based Software-as-a-Service (SaaS) platform which provides blood pressure monitoring services. It collects blood pressure data of patients from at-home devices, applies algorithms, and assesses the fluctuations in the blood pressure. Physicians can be connected and provided with blood pressure data of their patients in order to facilitate their workload, enabling more personalized management of patients regarding medication and lifestyle indications.Amicomed can also recommend actionable and personalized lifestyle interventions such as daily diet and exercises via virtual coaching.

Amicomed

Winston is a men’s health telemedicine platform that treats common issues impacting men such as sexual problems, hair loss, acne, and cold sores. Winston allows patients to consult doctors, place orders for prescription drugs, and offers free delivery to the homes of patients.The Toronto-based company aims to avoid men deferring doctor visits or withholding sensitive information. The consultation fee is covered by the provincial health plan, but the prescriptions are billed to the customer.

Winston

Dialogue is a leading virtual care and well-being platform that provides comprehensive health services to organizations and their employees. Founded in 2016, the company offers an integrated health platform that centralizes various health and wellness programs in a single application, accessible <a href="https://www.dialogue.co/en/blog/dialogues-2023-year-in-review#:~:text=Serving%2015%25%20of%20the%20Canadian%20population&amp;text=How%3F,aspects%20of%20their%20well%2Dbeing.">24/7/365</a>. Dialogue's services include primary care, mental health support, employee assistance programs, and wellness initiatives. As of <a href="https://www.dialogue.co/en/blog/dialogues-2023-year-in-review#:~:text=Serving%2015%25%20of%20the%20Canadian%20population&amp;text=How%3F,aspects%20of%20their%20well%2Dbeing.">December 2023</a>, Dialogue's platform was accessible to around 6 million Canadians, representing approximately 15% of the country's population.The company saw significant growth in <a href="https://www.dialogue.co/en/blog/dialogues-2023-year-in-review#:~:text=Serving%2015%25%20of%20the%20Canadian%20population&amp;text=How%3F,aspects%20of%20their%20well%2Dbeing.">December 2023</a>, with a 34% increase in consultations across all aspects of well-being in 2023 compared to the previous year. Mental health consultations, in particular, saw a 67% increase.&nbsp;In <a href="https://www.newswire.ca/news-releases/dialogue-enters-into-license-agreement-with-sun-life-u-s--824463104.html">July 2023</a>, Dialogue was acquired by Sun Life for an undisclosed sum, expanding its reach beyond Canada. This expanded service reach was estimated to cover an additional 600,000 members in the US. The acquisition was completed in <a href="https://www.sunlife.com/en/newsroom/news-releases/announcement/sun-life-completes-the-acquisition-of-dialogue-canadas-premier-health-and-wellness-virtual-care-platform/123792/">October 2023</a>, with Dialogue continuing to operate as a standalone entity.Key customers and partnershipsThe company has partnerships with major insurers and benefits providers to offer its services as part of employee benefits packages. Additionally, the company noted that, as of <a href="https://www.dialogue.co/en/pricing">August 2024</a>, it worked with over 50,000 companies across Canada to provide its services to employees.

Dialogue

Grin offers telemedicine and remote monitoring services for orthodontic needs such as braces and teeth straightening. Patients can conduct self-scans (using a Grin device made available to patients in collaboration with 3M) which can be connected to their smartphones and share the feed with orthodontists to access dental solutions. The company plans to go to a subscription-based model after the pandemic. The app also encourages patients to have a 40-second check monthly and share the scan with a dentist in order to allow patients to regularly maintain their dental hygiene.Grin is the only Telehealth disruptor covered on the hub that provides virtual orthopaedic consultations.Funding and financialsIn April 2021, the New York-based teledental platform concluded a seed funding of USD 14 million, and the funds will be allocated to develop additional functionalities by building out its technology. The proceeds will also be used to scale up its team, expand its geographic footprint, and add doctors to the company’s orthodontic partner network.

Grin

Real-time collection of patients’ health-related data using any remote patient monitoring device combined with general telemedicine services to reduce readmission rates. 


A platform that facilitates the transmission of patient data to different locations for further evaluation and interpretation by medical specialists. 


A digital platform that offers specialty care services to address the specific needs of a patient or demographic, including consultations where patients are generally reluctant to meet practitioners face-to-face.

Primary care through virtual consultations for general health-related concerns using a digital platform or mobile app. 

Companies developing B2B software solutions for patient engagement, care navigation, practice management, and electronic health records integration to facilitate telehealth services for healthcare providers. 

IoT is used by most telehealth providers to operate virtual services

All telehealth players are involved in digital health via virtual offerings

Industry players offer varying degrees of personalization for each target audience

Some players offer technology and platforms to healthcare providers, converting physical-only services into virtual services

Specific telehealth offerings focus on diversity and inclusion, providing care to LGBTQ+ or BIPOC populations

Generative AI is used to streamline administrative tasks such as clinical note-taking

XRHealth is a virtual reality (VR) startup providing remote patient monitoring (RPM) solutions. The company’s on-demand virtual care capabilities leverage FDA-approved and CE-registered medical extended reality (XR) technology (virtual and augmented reality) to provide drug-free, personalized therapies with a focus on three main therapeutic areas: pain management, neurological disorders, and behavioral health. The AR/VR applications and PICO Neo 2 VR headset are administered by licensed XRHealth therapists.XRHealth offers three other products: Data Portal, External Control, and a mobile app. The company’s RPM solution, Data Portal, provides real-time, aggregated data of every measurement and training performed in the AR/VR applications, allowing therapists to view patient progress and adjust training plans. Therapists can also control and monitor live VR sessions and make adjustments in real-time using its XRHealth External Control software. The mobile app was developed for individual users, allowing them to track their progress and results, and view their digital training and treatment plan.&nbsp;XRHealth operates in the D2C market, offering a three-tiered pricing plan starting at USD 69 per week. XRHealth’s solutions are also available to B2B customers as a covered benefit to more than 50 million people as of October 2021. In <a href="https://sp-edge.com/updates/17834">April 2023 </a>, the company announced its intention to merge with Amelia VR, subject to shareholder approval, amongst other conditions.Key customers and partnershipsAs of January 2024, XRHealth had served over 3,000 patients through its virtual clinics in the US, Israel, and Australia, with its platform having been used by approximately 1,300 healthcare organizations and individual practices.In September 2022, the company <a href="https://sp-edge.com/updates/12878">partnered with NeuroReality </a>to offer its cognitive training solution via XRHealth's virtual clinics. XRHealth users were given access to “Koji’s Quest”, NeuroReality’s neurological rehab solution for individuals who have suffered from strokes and brain injuries. XRHealth’s previous partnerships include VR and enterprise solutions developer Pico Interactive (April 2020), VA St. Louis Health Care System (January 2020), and healthcare IT solutions provider Allscripts (September 2019).In May 2023, the company announced its adoption of the Snapdragon Spaces XR Developer Platform for the Lenovo ThinkReality VRX, enabling developers to create immersive healthcare experiences in AR/VR/MR.

Boulder Care is a telehealth provider that offers virtual addiction treatment for substance use disorders, primarily focusing on opioid and alcohol use disorders. The company provides medical care, medication management, peer recovery coaching, and case management services through a mobile app, allowing patients to connect with a multidisciplinary care team, including physicians, nurse practitioners, peer recovery specialists, and social services support. Boulder Care's treatment approach includes medication-assisted treatment (MAT), prescribing medications such as buprenorphine-naloxone (Suboxone) for opioid use disorder and naltrexone, acamprosate, and others for alcohol use disorder. The company also delivers naloxone doses to patients to help reverse opioid overdoses.The company has implemented value-based payment arrangements with insurers, tying its financial success to patient outcomes. As of May 2024, Boulder Care had served over 12,000 patients across multiple states, with a concentration in Washington, Oregon, and Ohio. The company reports retention rates of 70%–80% of patients remaining in treatment after six months, significantly above the national average. Boulder Care had also expanded its services to include treatment for adolescents as of January 2024.Key customers and partnershipsBoulder Care has established partnerships with numerous health plans and employers to provide access to its services, including Elevance Health, UnitedHealth Community Plan, and Centene.

Boulder Care

<div>
 
 7 Cups provides an emotional-support platform with a network of volunteer listeners. Users can anonymously access either one-on-one chats or group chats 24/7, free of charge for issues such as depression, anxiety, relationships and those related to the LGBTQ+ community. It also teaches users skills such as meditation to improve their lives. If users want additional support, the company also provides access to an online therapy platform with a network of 180 licensed therapists for a subscription plan of USD 150 per month. 7 Cups is available for users above 13 years of age (users between 13 and 17 years old engage with listeners who are specifically trained in teenage interactions).
 
 
 Volunteer peer listeners get free training and support as well as flexible scheduling. Once a user requests a chat, it will be directed to available listeners and if the user requests a specific listener, he will be connected as soon as the listener accepts the demand. The service is anonymous and the listener has no access to the details of the user unless the information is disclosed to the listener by the user in their conversations. As of January 2022, 7 Cups has facilitated more than 51 million conversations, served 25 million individuals, and had 300,000 trained listeners. The listeners serve in 180 countries in 140 languages.
 
</div>

7 Cups

wayForward provides technology-supported behavioral health and emotional wellness services for employers planning to make services available to their employees. It uses a screening procedure designed by neuropsychologists to triage and help employee members get clinically relevant mental healthcare. The company provides a self-guided app, text-based coaching, video visits, telepsychiatry, and if required, in-person visits or an on-site counselor. wayForward leverages its evidence-based approach and artificial intelligence in delivering its services and claims that it has been able to reduce anxiety symptoms by 48% and depression symptoms by 59%.The company raised USD 2 million in a seed round in June 2020, which brought total funding to USD 4.5 million. DarioHealth, a chronic disease management platform based in Israel, signed a definitive agreement to acquire 100% of wayForward in May 2021 for a total consideration of USD 30 million. As of May 2021, the wayForward had approximately 20,000 members and was available in North America, Australia, and Europe.

wayForward

Coa is a mental health company that conducts online classes led by licensed therapists for mental health users. The classes focus on conditions such as stress, anxiety, confidence and relationships. The company raised USD 3 million in a seed round in October 2020 from investors led by Crosslink Capital.

Meru Health is an online platform that connects patients experiencing stress, depression, anxiety, burnout, and other mental health issues to licensed therapists. The company was founded by Kristian Ranta in 2016 after his older brother died from suicide after battling depression. The platform offers a 12-week program and personalized text-based coaching services and virtual workshops. Meru also provides access to progress reports and anonymous peer support groups as well as sleep, nutrition, and mindfulness advice. The program utilizes a wearable device that monitors heart rate variability and provides real-time feedback, allowing patients to visualize the connection between their mental and physical health.In March 2024, Meru Health introduced a 100% fees-at-risk pricing model for healthcare payers and employers, guaranteeing outcomes, access, and engagement. This value-based care approach aims to incentivize enrollment, quality care delivery, cost management, and medical cost savings.The company reported a 10x YoY growth in its customer base in 2020 and plans to serve 10 million users by 2027. The company also achieved 8x YoY growth in revenue in 2020 amid an increase in demand in mental health services brought about by the Covid-19 pandemic.Key customers and partnershipsMeru Health partners with major health insurance providers, including Humana, Aetna, and Moda Health. In January 2022, the company joined Evernorth's national behavioral health provider network, making its services available to Cigna health plan customers accessing benefits through their employer or individual and family plans.Meru Health also works with employer groups to provide mental healthcare for employees. In September 2022, Meru Health and clinical trial platform Curebase <a href="https://sp-edge.com/updates/13230">announced a partnership </a>to carry out a three-year clinical trial to measure the effectiveness of Meru Health’s 12-week digital depression treatment targeting primary care patients. The study was funded by the National Institutes of Health’s Small Business Innovation Research program.

Meru Health

Online peer-to-peer platform and support system that connects mental health communities.

Mobile-based apps and FDA-approved software that incorporate evidenced-based cognitive behavioral therapy to prevent, treat, or manage mental and behavioral conditions in conjunction with or as a replacement for traditional medication.

Products for behavioral health and mental health tracking, measurement-based care, and real-time remote monitoring of patients.

Subscription or membership-based platforms and apps to connect therapists, psychiatrists or behavioral health coaches with patients.

Offers virtual offerings for mental health consultations

Mental healthcare services offer personalized care tailored to a user's needs and treatment progression

There are mental health providers offering services specifically to help LGBTQ+ or BIPOC individuals

Several mental health technology providers offer therapy services rendered by AI/ML technology

Metaverse Experience Platforms

<div> 
 XRHealth received USD 6 million in venture funding from Asabys Partners, NOVA Prime Fund, Clearbrook, and existing investors, bringing its total funding to USD 40.8 million. With these funds, XRHealth plans to improve the capabilities of its platform, invest in R&amp;D, technological infrastructure, user experience, and partnerships with healthcare providers and organizations. It will also boost marketing efforts and plan for geographic expansion. 
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XRHealth

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