Perth-based medical device startup VeinTech came to prominence back in 2019 when the startup took out first prize in the Perth Biodesign final presentations for their vascular imaging technology.
The technology assists in doctors and nurses placing a cannula (needle) into the arm.
These cannulas can be difficult to place successfully in certain circumstances, sometimes requiring up to five or more attempts.
Difficult intravenous access may mean that a less experienced doctor or nurse will need to call on more senior clinicians for assistance and eventually, ultrasound guided cannulation may be necessary.
In 2020, the company was also awarded one of 36 Innovation Vouchers provided by the WA state government.
The startup has gone on to win yet another prize, this year taking out the $10,000 Medtronic Prize in the prestigious 2021 MedTech Actuator Origin pitch competition.
VeinTech was one of many startups in the Asia-Pacific region that entered the challenge, eventually making a 60-second pitch as one of 20 semi-finalists.
The startup also said “This funding will help to progress our invention over the next few months to a clinical prototype that can be used in human trials, the next step in getting our device into hospitals and benefiting patients”.