14 February 2020:
Oxford VR has raised €11.9 million in Series A round of funding. The funding round was led by Optum Ventures and supported by Luminous Ventures. Existing investors including Oxford Sciences Innovation, Oxford University Innovation and GT Healthcare Capital Partners have also participated in the funding round.
The company will use the fresh capital to accelerate US expansion of its virtual reality therapy solution and to continue to expand its treatment pipeline.
As a part of funding, Along with this investment, Ash Patel, Principal at Optum Ventures is joining the Oxford VR Board of Directors.
Barnaby Perks, Oxford VR, said, “We are tremendously excited to close this investment round and to be working with Optum Ventures to drive our next level of growth. We would not be at this exciting tipping point without the collective efforts of the team at OVR, in particular Katie Bedborough, our CFO & COO. Together with Optum Ventures and Luminous Ventures, and with the continued support from our existing investors, we can expand our clinical leadership footprint and accelerate our pipeline of automated VR therapy treatments.”
Izzy Fox, Principal of Luminous Ventures said, “Oxford VR has taken world-class science from Oxford University and applied cutting-edge immersive technology to create a transformational mental health solution which can deliver significant value for overloaded healthcare programs globally. Immersive therapy is accessible, engaging and effective, and has demonstrated exceptional clinical outcomes and we are thrilled to be partnering with the Oxford VR team.”
Ash Patel, Principal at Optum Ventures, said, “Oxford VR has taken a technology-led approach to create evidence-based solutions that will make treatment more accessible to patients who need it. We believe Oxford VR’s solutions will benefit those who need access to high quality, effective cognitive behavioural therapy.”
(Image- Oxford VR)