ORamaVR Secures $4.5M Late-Seed Funding to Lead theComputational Medical XR Revolution

ORamaVR, the Athens and Geneva-based company 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 Grece-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.

Positioning for Market Leadership

“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. “

About ORamaVR

ORamaVR is the co-creator and leader in Computational Medical Extended Reality (CMXR) which
integrates AI and XR to solve 5 core challenges in medicine: training, planning, navigation,
rehabilitation and therapy. Its software platform runs on standard hardware and is clinically proven
to deliver 32% medical skill gain and 80% error reduction in surgical, diagnostics, and therapeutics.
Their neurosymbolic AI-based MAGES-SUITE has been adopted by leading med-tech,
medical/nursing schools and medical training centers worldwide.

➡️ Source: Press Release | 📸 ©ORamaVR