Bristol-based virtual reality company Virti, which uses technology to train workers remotely worldwide, has raised $10 million in a Series A funding round led by deep-tech investor IQ Capital, with participation by Cedars-Sinai Medical Center, Business Live has reported.
Virti was founded by former orthopaedic surgeon and the company’s chief executive Dr Alex Young in 2018. The company’s technology allows medical staff and trainees to interact with AI-powered ‘patients’ through a tablet, desktop, or virtual reality or augmented reality headset, and role-play lifelike, interactive scenarios, reducing the need for in-person training.
The technology is also being used by universities, businesses and public sector organisations to teach soft skills, such as crisis management to mindfulness.
The company stated that the funding will be used to expand the business, and research and develop new technologies for improving human performance.
Young said: “We feel privileged to have both deep-tech experts and world-leading educators on our cap table in this round, to help us achieve our ambition of becoming the world’s leading developer and distributor of deep learning and digital training solutions.”
Max Bautin, managing partner at IQ Capital, said: “E-learning has seen strong growth over the last five years, and the Covid-driven shift to remote work has increased demand many times over. Virti’s deep-tech experiential learning platform is by far the best in the world. We are privileged to lead this highly competitive round and partner with Alex and his super-talented team to deliver on this exceptional growth opportunity.”
Date published: 6 July 2021