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Founded in Oxford , UK , Oxford VR provides immersive virtual reality therapy as part of a technology-based psychological treatment for phobias , and depression and anxiety disorders . It allows patients to overcome psychological difficulties while in a safe setting , providing automated treatment and virtual coaches . A spinout of the University of Oxford , Oxford VR , was founded in 2016 . It makes EU-Startup ’ s “ Ten European VR Startups to look out for in 2019 ”, with $ 4.1mn raised in funding . Its clinical acrophobia ( fear of heights ) program was a finalist in the 2019 VR Awards in the VR Healthcare of the Year category . JANUARY 2020