WA-based venture fund Fund WA has announced its second investment from its first fund in backing Perth-based medtech and biosensor company VitalTrace.
The former WA Innovator of the Year winners (2021, Wesfamers Wellbeing Award) co-founders Dr Arjun Kaushik and Dr Michael Challenor are leading cutting-edge research and developing manufacturing capability, all focused on solving a serious problem that is worth $3b per annum.
A recent event hosted by VitalTrace to celebrate the investment was an opportunity for FundWA investors to meet some of the team and hear about the most recent milestones reached in commercialising their world-first DelivAssure biosensor.
Support from our latest investment round allows us to accelerate towards our first clinical trials, build out our nation-first biosensor manufacturing plant and lay the foundations for a global biosensor company. Having a local team of investors like FundWA who are completely aligned with our mission to make childbirth safer for everyone around the globe is priceless.
Dr Arjun Kaushik, CEO of VitalTrace
Glenn Butcher, CEO and one of the four General Partners of Fund WA said he was happy to support an investment to create a new global standard of care for keeping mothers and babies safe during childbirth.
“This is a WA startup, based here, manufacturing from here and taking this ground-breaking technology to the world, from WA,” he said.
“Our investment in VitalTrace is a commitment to supporting transformative West Australian innovation that can enhance the lives of countless individuals. Our focus is on high growth potential and is not limited to any specific industry sectors. We firmly believe investable talent can come from anywhere.”
Earlier this year FundWA received support through the WA State Government’s New Industries Fund, from the Department of Jobs, Tourism, Science and Innovation which has provided some operational funding for the first three years to assist in the establishment of the fund under the WA Ventures Support (WAVES) pilot program.
To date, FundWA has vetted over 160 startup companies in WA and is actively encouraging early conversations with founders looking to scale through venture capital funding.
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For further information visit www.fundwa.com.au
