Mumbai-based digital therapeutics startup, Wundrsight, has raised $400,000 in its seed funding round led by Inflection Point Ventures, with participation from Social Alpha and several angel investors. The latest investment will enable the startup to strengthen its hospital and clinic partnerships network across India and advance its Virtual Reality (VR) based mental health solutions.
Co-founded by Raunak Swarnkar, Wundrsight is focused on leveraging the immersive capabilities of VR to digitize and standardize mental health therapy. Backed by prominent investors including Meta (Facebook parent), DLabs at the Indian School of Business, IIT Mandi Catalyst, and NASSCOM, the startup has established itself as a pioneer in the digital mental health space.
Key Highlights:
- Wundrsight has secured contracts with over five hospitals in three metro cities and is in the process of forging additional partnerships with private and government hospitals.
- The startup has developed more than six VR therapy products, which have been used to treat over 1,000 patients across various mental health conditions, including substance use disorders, OCD, anxiety, phobia, and autism.
- Wundrsight’s mental health solutions are clinician-administered, providing a novel approach to therapy.
The Indian mental health market is poised for significant growth, with a projected valuation of approximately $62.86 billion by 2032, up from $6.89 billion in 2023, with a compound annual growth rate (CAGR) of 28.16%.
This latest funding round cements Wundrsight’s position as a key player in the burgeoning Indian mental health industry, underscoring the immense potential for digital therapeutics in addressing the growing demand for mental health services across the country.