VR mental health platform Novobeing secures investment from Impact Assets

In Virtual Reality News

February 6, 2024 – Novobeing, a digital health company working to revolutionize stress management and self-care through virtual reality (VR), has recently announced an investment from Impact Assets, an impact investor.

According to Novobeing, the partnership marks a pivotal moment in the company’s mission to revolutionize stress management and enhance well-being through the integration of immersive technology into mental health and well-being practices.

Novobeing’s stress management solution blends VR technology with scientifically validated methods, and offers personalized, immersive experiences that cater to individual needs. The company’s platform is designed to increase engagement and efficacy of proven stress reduction and well-being treatments like meditation, breathwork and cognitive behavioral therapy.

By prioritizing personalization and enabling users to tailor their experience to suit individual conditions, emotional states, and stress levels, Novobeing provides an adaptable solution for both healthcare and personal use, according to the company.

Novobeing stated that its VR platform is designed to meet the rigorous demands of healthcare environments, and that its solutions are currently deployed in six hospitals and are the subject of three clinical trials. An early access application is available for individual users on the Meta Quest and an enterprise stress reduction kit is available for healthcare providers, according to the company.

The investment from Impact Assets, which has over $3 billion in assets under management, was guided by rigorous due diligence spearheaded by the Harvard Business School Investment for Impact program.

Novobeing stated that the strategic investment will accelerate its product development and innovation, enabling the company to expand its reach and impact. The collaboration also aligns with Impact Assets’ goal to support initiatives that contribute to a better world, according to Novobeing.

“We are thrilled to have Impact Assets as a partner in our journey,” said Sid Desai, CEO of Novobeing. “Their belief in our vision and commitment to social change resonates deeply with our core values. This investment is not just a financial boost but a validation of our efforts to transform stress management and well-being.”

The company did not disclose the total investment amount. For more information on Novobeing and its virtual reality stress management platform, please visit the company’s website.

Image credit: Novobeing

About the author

Sam Sprigg

Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.