Precision OS, a Vancouver-based company creating VR surgery simulation software, announced that it has secured $2.3 million in Series A financing. The funding round was led by Davos, Switzerland-based AO Invest, and includes other undisclosed investors.
Precision OS builds VR software that lets surgeons perform orthopedic medical procedures in a VR environment, providing metric feedback to help practitioners improve their techniques. The software itself focuses on providing educational modules and pre-operative planning for practicing doctors.
The company was co-founded by gaming and software professionals Colin O’Connor (CTO) and Roberto Oliveira (CCO), and by practicing orthopedic surgeon and company Dr. Danny P. Goel (CEO). Dr. Goel is a consultant shoulder surgeon and clinical associate professor at the University of British Columbia, department of orthopedic surgery.
“Precision OS technology is working to create a virtual language able to add depth of understanding that simply cannot be achieved using current simulation tools. Adopting VR as a way of improving decision-making is directly relevant for patients and value-based care,” says Dr. Goel.
“VR’s ability to offer a safe environment to make mistakes is highly valuable in providing surgeons with the building blocks on which to learn,” adds Dr. Goel. “It allows surgeons to practice, improve their decision-making, and, importantly, have the opportunity to fail. This offers a great amount of value to our surgeons – and ultimately to our patients.”
Moving forward, Precision OS is aiming to further develop its pre-operative planning tool to let surgeons upload images of a specific patient’s anatomy to the software prior to surgery, giving them a more accurate idea of what’s to come during the physical procedure.