HypnoVR, a provider of VR-based medical hypnosis solutions for managing pain and stress, has secured funding to the value of €700,000 (approximately $830,000) from lead investors Guillaume Richard, founder and chairman of OuiCare; Daniel Caille, founder and chairman at Vivalto Santé Holding; La Javaness, a start-up accelerator specialised in AI; Bpifrance, the French public investment bank; and several business angels.
HypnoVR founders Dr Denis Graff and Dr Chloé Chauvin, both of whom are medical doctors and anaesthesiologists, have a combined 20 years of experience in medical hypnosis. They have been joined by Nicolas Schaettel, who brings over 15 years of business and technology expertise to the team.
This funding, a combination of cash and work for equity investment, will enable HypnoVR to pursue product development and reinforce its sales and marketing team.
In September 2018, the company will bring to market its medical hypnosis VR solution designed to improve the management of patient pain, stress and anxiety by providing an alternative and complementary solution to chemical treatments.
Using commercially available VR headsets such as Oculus Rift or Samsung Gear, the solution places the patient into a multi-sensory tri-dimensional immersion experience. The technology, which is in the final stages of obtaining a class 1 medical device CE marking, is currently being used in applications for paediatric surgery, gastroenterology, gynaecology and dental surgery.
The device aims to improve the quality of care and comfort for patients, and to optimise pre and post-operative rehabilitation by decreasing chemical therapy and its side effects. HypnoVR aims to bring its solution to the largest possible number of patients.
Additional investors include business angels Maurice Berenger, CEO of CardioRenal; Guy Paillaud, president of the family office Financière de l’Intendance; and Jérôme Dillard, former CEO of TF1 Shopping, among others. French Law firm MLA Conseils served as legal advisors.
HypnoVR is about to enter a new round of clinical studies with a major university hospital centre as well as a partnership with Euridol, a French graduate school specialised in pain research.
