Boon VR

Virtual Reality For Medical Training

Company Information

Website:

http://www.boonvr.com

Sector:

Medical Facilities & Services, Virtual Reality

Location:

San Francisco, CA

Boon VR uses cutting-edge virtual reality technology to provide life-like, on-demand training for medical procedures.

Today, medical errors are the third leading cause of death in the U.S. These errors affect more than 232 million patients around the world.

As medical procedures become more advanced and complex, it becomes increasingly difficult for doctors to learn and use these new techniques.

Current training options aren’t effective. For example:

Creating 2-dimensional training videos cost medical device companies $990 million per year, yet these videos are unrealistic.

Meanwhile, traveling to medical workshops around the world is expensive and time-consuming.

Virtual reality provides a better solution, as it gives doctors and surgeons the opportunity to practice these techniques and receive hands-on training in life-like scenarios.

In a recent pilot test, 92% of operating room respondents felt virtual reality training improved retention of medical procedures. Many described the technology as “transformational,” “revolutionary,” and “efficient.”

Boon VR is incorporating this technology into training programs for medical device companies. Boon VR enables doctors to virtually visit operating rooms where real-life procedures are taking place. Using Boon VR’s capabilities, viewers can peek over the surgeon’s shoulders, watch incisions, and note heart and respiratory activity.

In December 2017, Boon VR completed a pilot program at St. Helena Hospital in California. During this program, 100% of doctors felt Boon VR’s training methods were more effective than standard video training.

In January 2018, a $4 billion medical device company began a pilot with a beta version of Boon VR’s system.

Boon VR aims to launch its completed system in Q3 2018, at which point a $500 million neurosurgical device maker is expected to take part in a pilot program.

In addition, Boon VR is in talks with several Fortune 500 companies to use virtual reality training on these companies’ life-saving medical devices.

Team Background

Ridhima Parvathaneni - Founder & CEO

Before founding Boon, Ridhima built The Seaways Free Trade Zone in India that generates $4 MN annual revenue and displaced DHL as the market leader. She also founded Indian Impact, a renowned online platform to reduce malnutrition.

Pieter Van Iperen - CTO

Technologist, coder, architect, entrepreneur, and mentor, Pieter is a 15-year software engineering veteran, co-founder of multiple startups, software security consultant, professor, and author of the HAZL(jADE) programming language.

Dr. Gan Dunnington - Chief Medical Advisor

Cardiothoracic Surgeon at Adventist Heart Institute, St. Helena. Dr.Dunnington was an assistant professor at Stanford University and assistant director of cardiothoracic surgery at El Camino Hospital.

Phillip Pellerin - Sales Advisor

Director of Procurement at the Verity Health System, Phillip has over 15 years of experience sourcing medical devices and can influence across business and departmental lines at the executive level of MedTech companies.

Rajani Ramanathan - Strategic Advisor

Former COO (Tech & Products) at Salesforce, Rajani is an expert in Enterprise sales and product management. She is a board member, investor and advisor for multiple tech companies.

Dr. Fumiaki Ikeno - Investor & Evangelist

Advisor to more than 200 medical device companies, Interventional Cardiologist, Program Director at Stanford Biodesign, member of the FDA-MHLW program, and a regular TEDx speaker and international medical conferences.

Vasant Kumar - Technical Advisor

Nearly 30 years of engineering leadership and long-time Senior Director of Development at Oracle, Vasant has built large software infrastructure and top notch engineering teams. He now serves as advisor and investor to several tech startups.

Co-Investors

Raising
$1.07 million
Committed
$272.196K (25%)
Current Valuation
$5 million Cap / 20% Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
SAFE
Finance History
Notable Investors
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