We are thrilled to announce the closure of a landmark £10 million Series A funding. The round is led by Optum Ventures and supported by Luminous Ventures. Also participating in this investment round are existing investors; Oxford Sciences Innovation, Oxford University Innovation and GT Healthcare Capital Partners.
This capital infusion will enable us to accelerate US expansion of our evidence-based automated VR therapy solutions. Furthermore, we will continue to expand our treatment pipeline.
Along with this investment Ash Patel, Principal at Optum Ventures, is joining the Oxford VR Board of Directors.
“Oxford VR has taken a technology-led approach to create evidence-based solutions that will make treatment more accessible to patients who need it. We believe Oxford VR’s solutions will benefit those who need access to high quality, effective cognitive behavioural therapy”.
Ash Patel, Principal at Optum Ventures.
Pictured Barnaby Perks, Founding CEO, Oxford VR and Ash Patel, Principal, Optum Ventures.
Mental health disorders are on the rise in every country around the world and will cost the global economy $16 trillion by 2030. There are huge unmet needs in mental healthcare, including access challenges, poor outcomes, the high cost of care, low patient engagement rates and a shortage of skilled clinicians. The investment recognizes the significant potential of Oxford VR’s automated VR therapy to help address these challenges.
“We are tremendously excited to close this investment round and to be working with Optum Ventures to drive our next level of growth. We would not be at this exciting tipping point without the collective efforts of the team at OVR, in particular, Katie Bedborough our CFO & COO. Together with Optum, Luminous Ventures and the continued support from our existing investors we can expand our clinical leadership footprint and accelerate our pipeline of automated VR therapy treatments.”
Barnaby Perks, Co-founder and CEO of Oxford VR, commenting on the landmark development.