Oli secures further AU$2m government backing as non-dilutive funding tops AU$11.5m
Oli is a wireless wearable platform that monitors maternal and fetal signals during pregnancy and labour
Australian maternal and fetal monitoring company Oli has secured an additional AU$2 million in non-dilutive funding from the Australian Government’s Industry Growth Program, bringing its total government support to more than AU$11.5 million.
The latest funding follows a AU$1.3 million award from the New South Wales Medical Devices Fund earlier this year and comes just weeks after parent company Baymatob announced a AU$6.5 million Series A3 financing round.
The Industry Growth Program grant will support the establishment of manufacturing capabilities in Sydney, while the Medical Devices Fund award is being used to advance Oli’s maternal and fetal monitoring platform, including the development of additional clinical capabilities designed to support future adoption.
Identifying serious complications earlier
Oli is a wireless wearable platform that monitors maternal and fetal signals during pregnancy and labour. The company says its technology is designed to help clinicians identify signs of serious complications earlier, including postpartum haemorrhage, stillbirth and uterine rupture.
“Maternal and fetal monitoring has remained largely unchanged for decades, despite maternal health complications continuing to rise globally,” said CEO Tara Croft.
“We’re building technology that helps clinicians see what’s coming and act earlier, shifting maternal and fetal healthcare from a reactive process to a predictive one.”
The funding highlights the extent to which Australian government programmes are backing maternal health innovation, particularly technologies with both healthcare and advanced manufacturing potential.
For Oli, the combination of venture capital and more than AU$11.5 million in grant funding provides a substantial runway as it works towards broader clinical adoption and commercial scale.