Los Angeles-based startup TRIPP, which uses alternative realities to present psychedelic imagery with the goal of increasing mental health, garnered $ 11 million in Series A funding. Vine Ventures and Mayfield led the round with the same participation of Integrated.
This new investment brings the company’s total funding to $ 15 million.
WHAT THEY DO
The company has created software that features psychedelic visuals, objective sounds and interoperations through a virtual reality headset. Patients can access the platform using a 2D or 3D design. The technology was designed to collect data during a session and adapt the content to the needs and preferences of the user over time.
The technology is currently used in clinical trials for substance abuse disorders, anxiety reduction, pain control, depression, and improved quality of life during cancer treatment.
Looking down, the company plans to add an option to view content through mobile and mixed reality smart glasses.
“The pandemic accelerated home therapy, a trend we have already seen grow since we launched TRIPP in 2018,” Nanea Reeves, TRIPP’s managing director and co-founder, said in a statement.
“As an accessible and non-invasive interactive solution to promote well-being, TRIPP allows users to manage stress and mental shape in the comfort of their home. Last year, 67 percent of our user base on the Oculus and PlayStation platforms were men, proving that TRIPP’s innovative meditative experiences in virtual and augmented reality provided support for this player demographic for a challenging year. .
“With this funding, we will be able to expand our reach to more platforms and ultimately help more people.”
WHAT IS IT FOR?
The company said it plans to use the new funds to build its equipment and user base. It also seeks to increase its R&D efforts and expand to support cross-platform distribution.
“Nanea and her team are creating the necessary pathways to ensure that all people have access to the equitable care they need. I am very excited to see the profound impact TRIPP will have on the world around us.” says Andrew Smith, president of Inflect Health, in a statement.
The use of virtual reality and other augmented realities to provide mental assistance and reduce pain has become popular in recent years.
AppliedVR works in the VR space for chronic pain management. Earlier this year it raised $ 29 million in Series A funding, bringing the total to $ 35 million. A study a JMIR demonstrated that the AppliedVR tool was more effective in reducing pain among participants with self-reported low back pain than the simulated application.