Immersive technology in healthcare pioneer Rescape Innovation has hit its £300,000 target through Crowdcube to help the company expand its use of virtual reality in the treatment of patients and to help frontline NHS staff.

Insider Media reports the fundraising, launched this week, has hit its target at a pre-money valuation of £3.1m, with significant pledges already secured from angel investors and the Development Bank of Wales.

Through Crowdcube, Rescape now has the opportunity to overfund, giving investors a stake from as little as £11.76 in a fast moving sector that has shown its value during the pandemic.

Rescape partnered with Cwm Taf Morgannwg University Health Board and the Centre for Trials Research at Cardiff University to demonstrate the very human benefits VR has brought to frontline NHS teams facing Covid-19, and the potential to roll out this technology and increase the adoption of VR in a range of future medical treatment plans.

Rescape already has a track record in the use of VR to support patient recovery and rehabilitation, working with cancer patients at Velindre Hospital, and cystic fibrosis patients in Cardiff and Vale University Health Board, and the value of VR has also been evidenced in mums in childbirth.

Now, for the first time, it has been successfully using VR through its DR.VR platform to help reduce anxiety and stress among NHS staff tackling the pandemic, which has far reaching implications on NHS costs.

Rescape Innovation chief executive Matt Wordley said “This is the latest push in our aim to become the leading global provider of immersive technology solutions, including VR, in healthcare and associated marketplaces.

“We already have interest from over 10 hospitals and trusts across the UK in the next scale-up of trials.”

Luke Lang, co-founder of Crowdcube, said “Rescape joins a growing list of healthcare technology businesses that have successfully fundraised with Crowdcube since the Covid-19 pandemic started earlier this year.

“Rescape’s mission to use virtual reality to help reduce stress and anxiety for NHS employees and improve patient wellbeing has clearly inspired people to invest in the innovative business, which is now overfunding.”