Oli, the wireless wearable for maternal and fetal monitoring, has secured an additional $2 million in non-dilutive funding from the Australian Government’s Industry Growth Program (IGP). The grant will support the establishment of manufacturing capabilities in Sydney, expected to commence later this year.
The funding follows the $1.3 million NSW Medical Devices Fund grant awarded in April 2026 and brings Oli’s total non-dilutive government funding to more than $11.5 million. Combined with the $6.5 million Series A3 announced last month, Oli has assembled a significant funding base as it moves toward regulatory submission and commercial launch across Australia and the United States.
“The opportunity is significant, with Oli projected to benefit more than nine million patients across Australia and the United States alone,” said CEO Tara Croft. “It’s incredibly encouraging to see support for innovation in an area where earlier visibility and intervention can have a profound impact on women, babies and families.”
The IGP supports high-growth Australian businesses undertaking commercialization and manufacturing projects within National Reconstruction Fund priority areas including medical science and advanced manufacturing.
