MindMaze tops the list raising $100M in 2016 alone, and causing a surge in funding for the sector during the year

Over the last few year, Virtual Reality and Augmented Reality have been buzzwords in the technology world, and a tremendous amount of focus has been towards the applications of AR/VR in fields beyond entertainment. Among them, the applications of VR and AR in Healthcare have, in particular, generated a lot of interest.

In terms of funding in the segment, Healthcare VR and AR Technologies have seen a fair amount of investor interest, with funding activity in the sector been gradually increasing in 2010-2015. But in 2016, the investments into the space has shot up dramatically by 263%, with $120M being invested during the year so far.

AR-VR in Healthcare (1)

This large surge is funding is purely because of Mindmaze, which raised a massive $100M from the Hinduja Group in February 2016. This single deal is greater than the combined total funding received  for the last five years in the VR / AR healthcare sector.

This obviously makes MindMaze the most well-funded company, with more than $118M in investments since its first funding round in 2012. MindMaze develops interfaces for neuro-rehabilitation, game training, and 3D imaging, using VR/AR and neurophysiological recording technologies.

Besides MindMaze, a list of the top companies in Healthcare VR and AR would include the likes of LensAR, which develops laser technology for cataract surgery, with an AR feature to image a patient’s eye to provide information a surgeon needs to plan a femtosecond laser procedure. The list also includes Augmedix, which uses Google Glass as an electronic medical record solution, thereby saving time for documentation and increasing the time spent on patient consultation.

Top 10 VR and AR Healthcare Startups 
Company Name Description Founding Year Total Raised Select Investors
Mindmaze Virtual Reality for neuro-rehabilitation 2012 $118.5M Hinduja Group
LensAR Laser Technology with AR feature for cataract surgery 2004 $75.1M Oxford Finance Corporation, Florida Growth Fund, Aisling Capital
Augmedix Glass powered solution for Doctors 2012 $40.4M Rock Health, DCM, Emergence Capital Partners
GenePeeks Digital recombination of DNA to reduce the risk of heritable diseases in off-springs 2009 $8.3M Horizon Technology
Brainlab Software and integrated solutions for surgical and radiotherapy applications 1989 $7.3M Intel Capital
Bright.md Web & mobile-based virtual physician assistant for hospitals and patients 2014 $4.5M Seven Peaks Ventures, Portland Seed Fund, Oregon Angel Fund
BioDigital Online 3D human body to help people better understand their health 2003 $4.4M Firstmark Capital, New York University
EchoPixel Software for AR medical-image visualization 2012 $4.1M Undisclosed
Aira Remote assistance technology platform for the visually impaired, where interpretation service is provided by trained interpreters 2015 $3.8M Lux Capital, ARCH Venture Partners, ARCH Venture, Felicis
Sense.ly
Platform for doctors for disease management of their chronic patients, post-discharge 2013 $3.5M TA Ventures, Eastlink Capital, Search Results
Alchemist Accelerator, Launchpad Digital Health
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