By Xavi on Mar 18, 2016 5:00:34 PM
In May of this year, pioneering Barcelona-based Startup Psious, specialized in psychological treatments based on Virtual Reality, closed its first seed financing round at a value of 1.05 million dollars, expandable to 1.5. This operation will allow the Company to accelerate its product’s development and position itself as Word leader in the Virtual Reality-based medical treatment sector.
The Company announced this news in a press release, which highlights the contribution of Venture Capital from Silicon Valley Rothenberg Ventures, the company leading the funding round alongside other investors from Singapore and Spain.
“We are delighted to have finished the round in such a favorable position and to welcome new partners to our Company who are so in line with our philosophy and offer such outstanding experience,” explains Xavier Palomer, the company’s CEO.
Following on from its success with the RIVER accelerator in San Francisco and the huge degree of anticipation generated in the Health 2.0 sector, today the company is planning to reinforce its leadership in the area of smartphone-based TICs targeted at mental health. Psious is a mobile phone-based Virtual Reality system allowing for the treatment and diagnosis of anxiety disorders through gradual exposure – the most frequently used therapy in treating these conditions by cognitive behavioral therapists (CBT).
Founded three years ago, the company has won a great many awards and nominations thanks to its innovative profile and potential to revolutionize mental health. The company was a finalist at the HITLAB SUMMIT WORLD CUP 2014 and took home first prize at Medstartr.com - Health 2.0 NYC. However, according to its co-founder, Daniel Roig:
“What really motivates us to carry on is the possibility of helping more than 18% of the population who suffer from anxiety disorders which have a negative impact on their daily lives.”
This philosophy is reflected in the business plan of the team made up of 9 young multi-disciplinary professionals, who have made Virtual Reality treatments available to all from their offices in Barcelona and Silicon Valley, whereas, up until now, this technology was only available at research centers or major specialist institutions. Psious is already being used by more than 90 mental healthcare professionals in the private sector and clinical trials are soon set to begin at centers as prestigious as Stanford University and John Hopkins Hospital.
“The surprising thing is that the use of technology backed up by 20 years’ medical validation and superior efficacy to traditional treatments is not more widespread among health professionals,” points out Walter Greenleaf, Neuroscientist and medical doctor at Stanford University and Psious’ medical consultant.