Singapore, May 27 -- Oli, a wireless, wearable device that monitors maternal and fetal signals, has secured $6.5 million in funding to accelerate development of its technology and support regulatory and clinical progress across Australia and the United States ahead of launch. The funding will support the completion of pivotal clinical trials underway across seven sites in Australia and the United States, advancement of regulatory submissions with the Therapeutic Goods Administration (TGA) and the US Food and Drug Administration (FDA), as well as business operations, and the establishment of manufacturing operations and headquarters in Australia.

The Series A3 round, backed by Scale Investors, Clare Ventures and The University of Sydney, ...