Psious Obtains €1.5M from the Cdti to Grow in Mental Health

The Spanish company Psious, which develops technology to treat mental illnesses, has received a $1.7 million (€1.5 million) grant from the Center for the Development of Industrial Technology (Cdti). This grant will help the company, among other things, to grow in the United States.

The company, which has developed a virtual reality platform specialized in the treatment of mental health disorders, reformulated its strategy in 2020 after the outbreak of Covid-19 and focused on telemedicine. Founded in 2014 in Barcelona, Psious helps psychologists and healthcare professionals around the world to offer innovative therapies with the use of technology. In its scientific work, Psious collaborates with international centers in researching the effectiveness of virtual reality protocols applied to improve mental health.

The company offers therapists and other healthcare professionals what they need to easily apply virtual reality in their practices: unlimited access to the Psious platform, virtual reality kit, a sensor that measures the patient’s physiological activation, and training to stay up-to-date and get the most out of virtual reality.

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Psious has already treated more than 16,000 patients

Virtual reality therapy offers the opportunity for mental health professionals not only to reproduce real-life scenarios but also to adapt and control these environments to meet the individual needs of their clients. This technology allows you to assess and identify your clients’ fears and anxieties within the safety of a consulting room. Virtual reality is a tool that effectively facilitates the application of psychological assessment and intervention protocols.

Currently the company, according to the data provided, has more than 2,000 therapist clients, has treated more than 16,000 patients, has conducted more than 150,000 virtual reality therapy sessions, and is present in more than seventy countries.

The company closed 2020 with a turnover of over $1.13 million (€1 million), which translates into a 60% increase over the previous year. In recent months, Psious has taken on its first employees in the United States. Psious has a similar activity figure between Europe and the United States, but wants to continue consolidating its strategy in the U.S. market.

The company aims to boost telemedicine with reimbursement and double turnover by 2021 compared to 2020.

The company closed an $9 million (€8 million) financing round in 2019

The company closed an $9 million (€8 million) financing round in 2019 co-led by Asabys Partners and Caixa Capital Risc. Sabadell Venture Capital, BStartup10, and the investment vehicle of Carlos Gallardo Piqué, a director of Almirall, also participated in the deal.

The health-focused virtual reality sector changed radically in 2014, when Facebook acquired Oculus, a virtual reality gaming startup, for $2 billion. Samsung soon after launched the first virtual reality glasses.

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