Three Aussie startups that raised $15.5 million this week

This week’s startup funding round-up includes medtechs Oli and AlleSense as well as energy startup Cable, which have collectively raised $15.5 million in new funding.

Australian medtech startup Oli has raised $6.5 million in a Series A3 funding round to accelerate the development of its maternal and fetal monitoring technology, designed to predict and reduce birth complications before they occur.

The Sydney-based startup was backed by Scale Investors, Clare Ventures, and the University of Sydney in the round.

Following a $1.8 million Series A2 raise in 2024 and a $4.7 million Series A round in 2022, the closure of the recent Series A3 round brings Oli’s total private capital raised to $13 million, alongside more than $9.5 million in non-dilutive grants.

Oli, formerly Baymatob, was founded in 2018 by mechatronic engineer Dr Sarah McDonald following the traumatic birth of her second child, Oliver.

At its core, Oli is a wireless, wearable device that monitors maternal and fetal signs.

The company says the device can simultaneously capture millions of physiological data points across 10 maternal and fetal biosensors, without interrupting movement, position, or the natural progression of labour.

The data is then processed through the company’s patented Predictive Maternal-Fetal Signal technology, translating raw inputs into live clinical signals that update as labour progresses, identifying early patterns that precede serious complications.

Medtech startup AlleSense has secured a $5 million investment round that includes participation from Breakthrough Victoria, Welcome Ventures and other private investors.

The round also includes $2.5 million from the AEA Innovate grant program.

The fresh capital will be used to support the commercialisation and clinical validation of its cancer diagnostic technology. Eight new jobs will also be added to the headcount.

The La Trobe University spinout is developing NanoMslide, a nanofabricated microscope slide designed to improve cancer detection without the need for chemical staining. The technology aims to help pathologists identify difficult-to-diagnose early-stage cancers while reducing diagnostic delays.

AlleSense was founded by Professor Brian Abbey following years of university-led research and is one of a growing number of Australian research commercialisation startups seeking to bring advanced medical technologies from the lab into clinical practice.

An energy startup that says it can save small and medium businesses as much as 40% on their electricity bills has raised $4 million in pre-seed funding.

Cable was founded in Sydney in mid-2025 by Dominic Reardon with the goal of helping SMEs access the same kind of savings available to households and large commercial operators through the use of batteries.

Cable owns these batteries, which it installs at a customer’s premises for no upfront cost and uses to access cheaper electricity prices.

The startup then bills the customer based on the energy they use.

Cable has been running a private beta for the past six months, but is now moving into public beta mode in the Sydney metropolitan area, supported by the $4 million in new pre-seed funding.

The funding comes from UK venture capital firm Systemiq Capital, Black Nova VC, and angel investors. This is the first time Systemiq Capital has invested in an Australian company.

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