Wundrsight raises $400K in seed round led by IPV

Wundrsight, a digital therapeutics startup, has raised $400K in its seed round led by Inflection Point Ventures. Social Alpha has also joined the round along with other angel investors. 

The proceeds will be used to expand its hospital and clinic partnerships network across India and ramp up the development of its VR-based mental health solutions, the company said in a press release.

Co-founded by Raunak Swarnkar, Wundrsight focuses on digitising and standardising mental health therapy using the immersive nature of Virtual Reality (VR). 

The startup has also been backed by Meta (Facebook parent), DLabs at the Indian School of Business, IIT Mandi Catalyst, and NASSCOM. 

Currently operating in three metro cities, Wundrsight claims to have already secured contracts with over 5 hospitals, with additional partnerships with private and government hospitals underway. 

Offering more than 6 VR therapy products, the startup has treated over 1,000 patients across various mental health conditions, including substance use disorders, OCD, anxiety, phobia, and autism, with clinician-administered therapies.

According to market research, India's 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%.