Tern PLC - Further FundamentalVR contract win
("Tern" or the "Company")
Further FundamentalVR contract win
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that its portfolio company, FVRVS Limited ("FundamentalVR"), has secured a further
The contract covers ongoing repeat licences and support to continue the global rollout of the Client's virtual reality training solution, built by FundamentalVR. The rollout of the virtual reality simulation is intended to deliver the Client's ambitions to accelerate the safe and compliant use of its products. The Client will harness FundamentalVR's unique HapticVR technology, combining real life medical devices with virtual "digital twins" of those devices, allowing surgeons to interact with virtual patient tissue.
FundamentalVR's award winning platform combines immersive virtual reality with cutting-edge haptics (the sense of touch, weight, pressure and resistance) to create low-cost, measurable and scalable simulation experiences to accelerate medical product and procedural safe, compliant adoption. The platform allows its users to participate in safe, remote and multiuser skills training which is becoming increasingly important in light of Covid-19.
"Our other portfolio companies are also making good progress and we look forward to announcing further significant developments in due course."
via IFC Advisory
Allenby Capital Limited
(Nominated Adviser and Broker)
Tel: 0203 328 5656
(Financial PR and IR)
Tel: 0203 934 6630
FundamentalVR delivers VR haptic 'flight simulators' for surgery creating a safe, measurable and repeatable space to refine skills. FundamentalVR's goal is to transform the way surgeons prepare, practice, and refine their skills. It has built an immersive, surgical simulation application platform, Fundamental Surgery, to provide medical professionals with the opportunity to rehearse, practice, and test themselves within a safe, controllable space that is as close to real-life as possible.
Tern's shareholding in FundamentalVR is 26.9% and as at
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