Australian maternal health technology company Oli has secured $2 million (€1.2 million) in non-dilutive funding from the Australian Government's Industry Growth Program to establish local manufacturing capabilities in Sydney, with production expected to commence later this year. The development has direct relevance for medtech manufacturing investment and the emerging segment of wearable clinical monitoring devices.

As reported by Business News Australia, the federal grant follows a $6.5 million (€3.8 million) Series A3 capital raise completed in May 2026, backed by Scale Investors, Clare Ventures and the University of Sydney, and a $1.3 million (€0.76 million) grant from the NSW Government's Medical Devices Fund awarded in April 2026.

Oli, formerly known as Baymatob, has now attracted more than $11.5 million (€6.7 million) in non-dilutive funding alongside $13 million (€7.6 million) in private capital raised to date. The IGP funding will support the transition from clinical development to local manufacturing as the company targets a commercial launch by end of 2027.

The company is developing a wearable monitoring device designed to predict birth complications including postpartum haemorrhage, shifting maternal and foetal care from reactive treatment to early intervention. The device captures data across 10 biosensors simultaneously, processing inputs through its patented Predictive Maternal-Foetal Signal technology to produce live clinical signals that update as labour progresses.

Tara Croft, CEO of Oli, said: "Maternal and foetal monitoring has remained largely unchanged for decades, despite maternal health complications continuing to rise globally. Today, too many serious complications are only recognised once they're already unfolding, resulting in preventable emergencies, long-term health complications and, in some cases, death for mothers and babies. 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."

Croft added that Australia had produced world-leading healthcare companies and described it as encouraging to see support for innovation in an area where earlier visibility and intervention can have a profound impact on women, babies and families.

Oli is currently running a 1,000-patient pivotal clinical trial across seven sites, with more than 850 mothers enrolled. Early clinical simulations completed in 2023 indicated the technology could provide postpartum haemorrhage warnings up to nine hours before birth, with a potential 58% improvement in clinical response times and up to 50% reduction in severe interventions.