ORamaVR, the pioneering Computational Medical Extended Reality (CMXR) platform, announced the successful close of a $4.5M seed funding round led by Big Pi Ventures and with additional capital provided by Evercurious VC, both Athens-based technology focused venture capital funds. The funds will be used to expand the company’s product development and sales efforts, providing XR training software to be used by manufacturers of medical devices and surgical robots.
The funding encompasses both direct equity investments and convertible loan agreements from an exceptional consortium of investors that blends established healthcare innovators with
emerging deep-tech leaders.
Existing investors participating in the round include the research center FORTH-ICS, Starttech Ventures, as well as angel investor and Epignosis co-founder Thanos Papangelis. The round added notable new investors including Sofmedica Ventures, the investment arm of leading medical device and training provider Sofmedica, Lars Rasmussen, co-founder of Google Maps and others.
Strengthening Leadership for Global Expansion
The company also announced the appointment of Jan Grund Pedersen as Chief Business Officer. Mr. Pedersen has been a pioneer in the development of commercial medical XR solutions and has
extensive experience in building global commercial strategies.
Computational Medical XR: The Next Frontier in Healthcare
ORamaVR is building CMXR, a special category of virtual reality software where AI, medical knowledge, robotic digital twins, and real-time analytics converge with immersive/ extended reality
to solve critical healthcare challenges. While the company’s software can be used for a wide variety of use cases, from training and surgical planning to rehabilitation and therapy, the company’s focus is the training associated with medical devices and surgical robots. Similar to the flight simulator used by commercial airline pilots, CMXR systems can both improve and accelerate the training of all health care personnel.
“We have spent several years bringing CMXR technology outside the research lab and into commercial software products. The new funding round will allow us to scale up our operations and deliver on commercial contracts that are already in development with leading medical hardware manufacturers,” said Dr. George Papagiannakis, co-founder and CEO/CTO. I have no doubt that XR usage will keep expanding in medical practice in the coming years, and we are uniquely positioned to lead that effort.”