Belgium-based digital pain and anxiety therapy developer Oncomfort closed a €10m ($11.9m) series A round on Wednesday co-led by biopharmaceutical firm Debiopharm’s Innovation Fund.
The round was co-led by Crédit Mutuel Innovation, a venture capital vehicle for private equity firm Crédit Mutuel Equity, and included state-owned investment fund Wallonia Innovation and Growth in addition to Oncomfort’s existing investors.
Founded in 2017, Oncomfort has created virtual reality software that incorporates hypnotherapy and guidance to help patients manage pain and stress during medical procedures without resorting to medication.
The capital will go to product development, as the company targets international expansion. Debiopharm and Crédit Mutuel Innovation will both take seats on Oncomfort’s board of directors.
Oncomfort has not disclosed details of earlier financing but its investors include Caring Entrepreneurship Fund, a philanthropic venturing fund managed by charitable funding agency King Baudouin Foundation.