Digital therapeutics startup Wundrsight has successfully raised $400,000 in a seed funding round led by Inflection Point Ventures (IPV), a Gurugram-based angel investment firm. This funding round also saw participation from Social Alpha and various angel investors, underscoring the growing interest in innovative mental health solutions.

Funding Details and Future Plans

Wundrsight plans to utilize the newly acquired funds to broaden its network of partnerships with hospitals and clinics across India. The startup aims to enhance the development and implementation of its Virtual Reality (VR) and Artificial Intelligence (AI)-based therapy platform. This strategic move is expected to accelerate its mission of providing effective and accessible mental healthcare solutions.

Founded in 2022, Wundrsight is pioneering the use of immersive VR technology to revolutionize mental health therapy. By digitizing and standardizing mental health care, the startup seeks to address a range of conditions, including Substance Use Disorders, Obsessive-Compulsive Disorder (OCD), anxiety, phobias, autism, and dementia. The platform’s unique approach aims to offer personalized care while reducing reliance on medication and improving clinician efficiency.

Founders and Industry Backing

Wundrsight was co-founded by Raunak Swarnkar and Nishtha Budhiraja. Swarnkar, an IIT GN alumnus with extensive experience in AI/ML, neuroscience, and medical devices, and Budhiraja, a psychologist with over a decade of clinical experience, bring a wealth of expertise to the startup. Their combined background provides a strong foundation for the development of Wundrsight’s innovative solutions.

The startup is also supported by notable industry players, including Meta (formerly Facebook), DLabs at the Indian School of Business, IIT Mandi Catalyst, and NASSCOM. This backing highlights the confidence that leading organizations have in Wundrsight’s potential to transform mental health care.

Expanding Horizons

With a focus on growth, Wundrsight is eyeing expansion into the US market, where VR therapy has recently received CPT codes for insurance reimbursement. This move is expected to significantly broaden the startup’s reach and impact, both in India and across the Asia-Pacific (APAC) region.

Currently operational in three major Indian metro cities, Wundrsight has already secured contracts with over five hospitals. The startup is actively pursuing additional partnerships, including collaborations with both government and private healthcare institutions.

The mental health market in India is experiencing rapid growth, with projections estimating its valuation to reach approximately $62.86 billion by 2032, up from $6.89 billion in 2023. This growth reflects a compound annual growth rate (CAGR) of 28.16%, underscoring the increasing demand for effective mental health solutions.

Impact and Innovation

Raunak Swarnkar, Co-Founder & CEO of Wundrsight, emphasized the pivotal moment in mental health care, highlighting the significance of innovative software-based medical devices in receiving regulatory approvals for prescriptions. He noted, “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, standardized, and effective treatments.”

The funding and subsequent expansion efforts will enable Wundrsight to make a significant impact on mental health care, leveraging VR technology to deliver cutting-edge solutions in both domestic and international markets.