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Mentice

Extended Reality
Product stageSegments
Early
?
AR/VR platforms
?

Mentice is a Swedish company providing VR simulation hardware and software for healthcare professionals. The company’s solutions cover neurovascular, cardiovascular, and peripheral interventions, and it claims to be the pioneer in simulation solutions for endovascular therapies. Mentice aims to equip healthcare workers and the MedTech industry with new skills and techniques including device and patient selection processes, step-by-step procedural planning, workflow management, and simulation-based learning modules for procedures.

The company’s most recent M&A activity included its agreement to acquire biorealistic 3D printing and flow systems company, Biomodex, in December 2023. Previously, to enhance its endovascular simulation offerings, expand its customer base, and venture into new market segments, Mentice acquired Ankyras (June 2022), a software solutions developer, and Vascular Simulations (October 2020), a MedTech company providing replication solutions.

Key customers and partnerships

Mentice joined the TASTI project (November 2022), a joint European research project financed by the Swedish government agency for innovation (Vinnova), which would improve Mentice’s current offerings and would create opportunities for new applications. The company has also established partnerships with universities including the University of Miami and the University of Pennsylvania for research and innovation. Furthermore, the company’s client base stood at 700 as of November 2022 and included Siemens Healthineers, Florida Hospital, and University Hospital Southampton.

Funding and financials

In November 2022 , the company received a SEK 3 million (~USD 280,000) grant from Vinnova. The proceeds were allocated to improve synthetic image generation and realism in its virtual reality software. In June 2019, the company began trading publicly on NASDAQ.

The company recorded SEK 275.1 million (~USD 26 million) in revenue for FY2023, up 25% YoY compared to SEK 220.3 million (~USD 21.1 million) in FY2022. This translated into a loss per share of SEK 0.11 (~USD 0.01) in FY2023, compared to a loss of SEK 1.22 (~USD 0.12) per share in FY2022.

Extended Reality

Extended Reality

Key stats
Featured companies
239
Total funding (USD)
13.6 Bn
Total addressable market (USD)
100.4 Bn
Key competitors
 
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Product Overview
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Company profile
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Recent Updates

Funding
Nov 9, 2022
Sweden-based Mentice receives a SEK 3 million grant
Extended Reality

Company Brief


HQ location:
Odinsgatan 10 Gothenburg SWE
Founded year:
1998
Employees:
101-250
Total Funding:
USD 275.7 thousand
Last Funding
USD 275.7 thousand, Nov 2022

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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