Wundrsight, a digital therapeutics startup has secured $400K in seed round led by Inflection Point Ventures. Social Alpha has also joined the round along with other angel investors. This investment will enable Wundrsight to expand its network of hospital and clinic partnerships across India and accelerate the development of its innovative VR-based mental health solutions.
Wundrsight builds virtual reality and AI-based therapy platforms for mental healthcare management. Established in 2022, the company focuses on digitising and standardising mental health therapy using the immersive nature of Virtual Reality (VR). Their mission is to deliver accessible, effective, and personalised care for various mental, behavioural and neurocognitive health conditions, including substance use disorders, OCD, anxiety, phobia, autism, dementia and more. They have also been backed by Meta, DLabs at Indian School of Business, IIT Mandi Catalyst, NASSCOM and others.
Raunak Swarnkar, Co-founder and CEO, an IIT GN-Alumni, brings over 5 years of experience leading product development across AI/ML, B2B SaaS, and R&D in Neuroscience and medical devices, with previous roles at TCS R&D, IBM, and RedSeer Consulting. Nishtha Budhiraja, Co-founder and Chief Medical Officer, a psychologist with 10+ years of experience, has worked with over 5000 patients and holds a degree from the University of Essex, with prior clinical leadership roles at Loop Health, Cult.Fit. Together, they are on a mission to build technology to solve for the current inefficiencies in delivering quality mental healthcare treatment to patients.
Vikram Ramasubramanian, Partner, Inflection Point Ventures says, “The mental health crisis is more alarming than ever; solving it with just traditional methods is often limited to accessibility, personalised treatment, and engagement. Many people start therapy but frequently drop off due to ineffective retention and engagement strategies. VR augments current solutions, helping to retain and engage users more effectively, ensuring they achieve their results. At IPV, we believe in Wundrsight’s vision to make mental wellness accessible to all through technological innovation.”
Wundrsight’s VR solutions have already proven successful in reducing therapy session times by up to 30 per cent, saving time and money while delivering superior patient outcomes. Wundrsight’s VR therapy is backed by CDSCO Registration, ISO certifications and CTRI-registered clinical trials. Currently operating in 3 metro cities, they have already secured contracts with over 5 hospitals, with additional partnerships with leading private and government hospitals underway. Offering more than 6 VR therapy products, the startup has successfully treated over 1000 patients across various mental health conditions, including substance use disorders, OCD, anxiety, phobia, and autism, with clinician-administered therapies.
“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 and 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, standardised and effective treatments. This funding will help us expand our reach and impact in India and APAC. We look forward to entering the US market next where VR therapy has received CPT codes for reimbursement from insurance providers.”
India 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 per cent.