Boon VR

Boon VR

Early Stage

Medical Training in Virtual Reality! Major Paid Pilots. Serial Entrepreneur.

Medical Training in Virtual Reality! Major Paid Pilots. Serial Entrepreneur.

Overview

Raised this Round: Raised: $265,271

Total Commitments ($USD)

Platform

Republic

Start Date

02/18/2018

Close Date

06/11/2018

Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$7,000,000

Discount

20%

Year Founded

2016

Industry

Business Services, Software, & Applications

Tech Sector

Location

San Francisco, California

Who Should Be Interested:
Are you a new doctor or medical student who wants more realistic practice opportunities for surgeries? Or, are you a seasoned MD who wants to practice new and innovative technologies in a safe way, or ensure that your new doctors feel comfortable with the procedures they’re doing? Well then, it sounds like Boon VR could be the investment you’ve been waiting for. Their VR technology helps train doctors in medical procedures, making sure doctors feel comfortable -- and patients stay safe.

The Company:
Boon VR’s virtual reality (VR) technology will revolutionize the medical training industry and disrupt a potential $1.4B market. Their cutting-edge VR provides life-like, on-demand training for medical procedures, helping close the training gap for doctors. Not only does Boon VR provide training situations for practice, but their unique cloud platform allows doctors to virtually visit and revisit operating rooms where real-life procedures are taking place. As Boon puts it, “If the operating room is a living theater, then Boon VR puts the viewer on center stage.” So far, Boon’s running paid pilots include a Fortune 2000 medical device company, and they are in talks with several Fortune 500 device companies as well. They’ve already secured $375,000 in investments, and their team has the deep medical, surgical, and entrepreneurial experience needed to make Boon truly boom into a success.

The Bottom Line:
Medical errors impact 232 million patients globally and are the third leading cause of death in the US. With Boon VR, those errors could decrease, and life-saving medical device access could increase. More doctors would feel more comfortable doing the procedures, meaning more people could get them faster. Plus, 92% of operating room respondents felt that VR training really helped. Boon VR can help transform and revolutionize the medical training world -- one VR operation at a time.
Create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Analyst Report Analyst Report Methodology Article

Summary

At time of publication, April 24, BoonVR had raised $166K surpassing its $10K minimum

Next Section: Other

The Founder:

How do I describe Ridhima Parvathaneni? She is the kickass  founder disrupting healthcare with VR. We recently sat down to chat with her and learn more about what she and her team are up to at BoonVR. What we found is an investment opportunity we think is poised for tremendous upside.

For as long as Ridhima can remember, she has been drawn to tech because of its ability to, “affect millions of people and have a huge societal impact, when done right.” For context, Ridhima has already founded, The Seaways Free Trade Zone, which produces over $4M in annual revenue. It’s mission you ask? To provide better access to pharmaceuticals and medical devices to the people of India.

But she saw even more opportunity to spur societal  impact, by applying technology to the medical space. On a trip to the US in search of her next business idea, Ridhima explored robots and different tech before stumbling upon VR. When she learned more about VR, she realized it, “had this incredible sense of presence,” like nothing she had ever seen before. It became clear that the ability for VR to, “allow people to go somewhere in a photorealistic way,” presented a huge opportunity based on the current state of tech.

The immersive ability of VR kept drawing Ridhima in as she grew up in a family of doctors that often discussed the training videos they utilized to learn about new medical devices. With her knowledge of the training gap that existed, she decided to find a way to provide a VR based solution that could help improve medical outcomes through better training experiences.

It’s pretty clear that Ridhima is a mission driven founder, and her early investors Ben Brasher of Blacktop Capital, couldn’t agree more. When we spoke with him he said, “We invest in founders who are driven to make the world better and Ridhima has the business experience to help Boon do just that.”

Next Section: Other

The Problem

Ridhima speaks a lot about the training gap that exist in the medical device space. But we learned that those words carry great weight. Put simply, “In the U.S. alone 700 people die a day because of preventable medical errors.” When you put the problem in the context of people dying on a daily basis, it begins to position the great need for better training solutions.

In a year, that would mean 255,500 lives are at risk due in part to poor training services. From a market size perspective, medical device companies spend $1.4 billion on a yearly basis to try and train doctors to the best of their abilities using 2 dimensional videos.

Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.
Add to portfolio
Boon VR on Republic
Platform: Republic
Security Type: SAFE
Valuation: $7,000,000

Follow company

Follow Boon VR on Republic

Buy Boon VR's Deal Report

Warning: according to the close date for this deal, Boon VR may no longer be accepting investments.

Boon VR Deal Report

Get KingsCrowd’s comprehensive report on Boon VR including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Boon VR is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise
  • Our deep-dive analyst report reviewing the deal's investment potential and bullish vs. bearish outlook

Buy the Boon VR deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge