May 16, 2022

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$10 Million Raised by XRHealth To Develop Virtual Healthcare

3 min read

In recent news, XRHealth, a firm based in the State of Israel, has announced that it has successfully raised a sum of $10 million. Focusing on the development of virtual reality medical solutions, the company is going to use these funds to make its way into the virtual healthcare system that exists in the metaverse. The round that enabled XRHealth was backed by various important sources, such as HTC, an impact investment fund of the Bridges Israel. Moreover, existing investors also participated while a crowdfunding campaign was also run on StartEngine.com. The firm is well-known for operating top notch virtual therapeutic care rooms, by using CE and FDA registered medical extended reality technology, also known as XR technology. 

XRHealth works alongside hospitals, rehabilitation centers, and healthcare providers in the US. This permits the company to provide state-of-the-art comprehensive therapeutic care without ever leaving their homes. All of this is done through a HTC VIVE headset, developed for the purpose of virtual reality.  The chairwoman and founder of HTC, Cher Wang, talked about these new developments, applauding the efforts of the Israel-based company. She said that the two firms together will be starting a journey to grow and expand into the open ecosystem. In her words, interoperability is important and working alongside XRHealth will not only reduce costs and enable greater access but open the world to numerous possibilities in the field of technology.  

She went on to add that with exploration of technology in medicine, it could further be used to do good by way of virtual reality medical solutions. The virtual treatment rooms being operated by the virtual reality company in Israel allow clinicians the chance to progress in their business. It is also an opportunity for them to provide additional access to patients so that they can receive quality care. A recent report by McKinsey also talked about the economic opportunity brought about by virtual healthcare, saying that it could make way for a market with a potential of several hundred billion dollars. The CEO of XRHealth, Eran Orr, talked about how the company is facilitating the use of virtual clinics for all kinds of people. 

He said that this opportunity is being brought to the pockets of people a time when there is significant change in the landscape of medical delivery, as well as the technology industry as a whole. In his word, the firm is making efforts to leverage important changes and develop a new version of healthcare, which can easily be accessed at any time of the day, from anywhere in the world. Ideally, the state-of-the-art healthcare would be easily accessed from any location that is present in the virtual environment of the broad metaverse. Consequently, treatment will be personalized with respect to real-time analytics.

A board member of XRHealth, Gal Hayut, talked about how as an impact-tech investor, Bridges Israel can see that the company has potential and is generating positive clinical results. She further added that high patient satisfaction is another feature of the progress being made by XRHealth.

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