About In Vitro Diagnostics sector in Australia and New Zealand
The In Vitro Diagnostics sector in Australia and New Zealand comprises 62 companies, including 34 funded companies having collectively raised $495M in venture capital money and private equity. Out of these, 23 are Series A+ funded.
In Vitro Diagnostics sector in Australia and New Zealand has seen 5 acquisitions and 13 IPOs. This represents almost 29.0% of all such companies - which is higher than the 4.0% exit rate of tech companies in general.
This sector includes companies engaged in R&D for diagnostics tests for diagnosis and treatment of various diseases.
In Vitro Diagnostics sector is also known as In Vitro Diagnostics Solutions, Advanced In Vitro Diagnostics or Digital In Vitro Diagnostics.
Companies developing assays on samples such as blood or tissue that have been taken from the human body for the diagnosis of various diseases are included in this sector. Traditional Diagnostic Technologies, Diagnostic Devices, In vivo Testing Technologies are excluded.
Top In Vitro Diagnostics Companies in Australia and New Zealand
There are 62 In Vitro Diagnostics startups in Australia and New Zealand which include Pictor, Toku Eyes, Proteomics International, EMvision, Pacific Edge. Out of these, 34 startups are funded, with 23 having secured Series A+ funding.
Over the past 10 years, an average of 1 new company has been launched annually. Notably, several of these startups have been founded by alumni of Harvard Business School, Harvard University and Monash University.
Here is the list of top In Vitro Diagnostics startups in Australia and New Zealand
1. Pictor
Developer of immunodiagnostic products based on multiplexed assays. The proprietary PixArray technology has an array of dots that contain the required reagents, with each panel also containing control dots. The assay panel requires only 20 microliters of blood for accurate diagnosis. In addition, the company has also developed an imaging software called Pictimager and analysis software called Pictorial to enable automated immunoassays.
Key facts about Pictor
- Founded Year: 2005
- Location: Auckland (New Zealand)
- Stage: Series A
- Total Funding till date: $11.1M
- Investors: K1W1, Cure Kids Ventures and 41 Others
- Latest Funding Round: Series A, Sep 23, 2025, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 1 of 227 Competitors
2. Toku Eyes
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Key facts about Toku Eyes
- Founded Year: 2018
- Location: Auckland (New Zealand)
- Stage: Acquired
- Total Funding till date: $10.5M
- Investors: National Vision, Icehouse Ventures and 16 Others
- Latest Funding Round: Series A, Apr 17, 2023, $*****
- Tracxn Score: 56/100 What is this?
- Competitors Rank: 1 of 65 Competitors
Medical technology company at the forefront of predictive diagnostics and bio-analytical services. The company develop and commercializes diagnostic tests known as PromarkerD, for the detection of diabetic kidney disease. Company specialises in the area of proteomics, the industrial scale study of the structure and function of proteins. It also, offers analytical services for research purposes. The technology can be used to identify fingerprints from any biological source, from wheat seeds to human serum.
Key facts about Proteomics International
- Founded Year: 2001
- Location: Perth (Australia)
- Stage: Public
- Investors: MTPConnect and NorthStar Impact
- Latest Funding Round: Post IPO, Jan 23, 2024, $*****
- Tracxn Score: 55/100 What is this?
- Competitors Rank: 8 of 199 Competitors
4. EMvision
EMvision provides portable electromagnetic microwave imaging solution. The company offers a point-of-care, non-invasive, rapid brain scanner for stroke and brain injury diagnosis and monitoring. Their system provides three-dimensional images of biological tissue with microwave tomography.
Key facts about EMvision
- Founded Year: 2017
- Location: Brisbane (Australia)
- Stage: Public
- Investors: Bell Potter, NorthStar Impact and 2 Others
- Latest Funding Round: Post IPO, Feb 28, 2024, $*****
- Tracxn Score: 51/100 What is this?
- Competitors Rank: 2 of 11 Competitors
5. Pacific Edge
Provider of diagnostic and prognostic tests for cancer. The lead product Cxbladder is a urine-based detection test to determine the likelihood of bladder cancer in patients presenting with hematuria by measuring the expression levels of five protein biomarkers. The company is also developing diagnostic and prognostic biomarker-based tests for colorectal cancer, melanoma, endometrial cancer, and gastric cancer.
Key facts about Pacific Edge
- Founded Year: 2011
- Location: Dunedin (New Zealand)
- Stage: Public
- Total Funding till date: $1.75M
- Latest Funding Round: Series A, Jul 30, 2018, $*****
- Tracxn Score: 49/100 What is this?
- Competitors Rank: 55 of 700 Competitors
Companies founded year-on-year in the In Vitro Diagnostics sector in Australia and New Zealand
6 In Vitro Diagnostics startups in Australia and New Zealand were founded in 2017 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 3 |
2022 | 1 |
2021 | 1 |
2020 | 3 |
2019 | 1 |
2018 | 4 |
2017 | 6 |
Stage-wise distribution of In Vitro Diagnostics sector companies in Australia and New Zealand
Out of the total 62 In Vitro Diagnostics companies in Australia and New Zealand, 34 have secured funding. Among them, 23 have reached Series A or higher, and 19 to Series B or beyond.
Founded - 62
Funded - 34
Series A+ - 23
Series B+ - 19
Series C+ - 19
Company Stage | No. of companies |
|---|---|
Founded | 62 |
Funded | 34 |
Series A+ | 23 |
Series B+ | 19 |
Series C+ | 19 |
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Funding Trends in the In Vitro Diagnostics sector in Australia and New Zealand
Total funding year-on-year in the In Vitro Diagnostics sector in Australia and New Zealand
The In Vitro Diagnostics sector in Australia and New Zealand saw a total funding of more than $415M in the last 10 years. The most amount of funding was in 2021 at more than $234M. There has been a total funding of $1.04M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $1.04M |
2025 | $6.15M |
2024 | $17M |
2023 | $34M |
2022 | $24.2M |
2021 | $234M |
2020 | $30.3M |
2019 | $23.7M |
2018 | $40.2M |
2017 | $3.52M |
Recent Funding Rounds in In Vitro Diagnostics in Australia and New Zealand
In the year 2026, till April 2026, In Vitro Diagnostics companies in Australia and New Zealand have raised $1.04M in equity funding across 1 round.
Here are some recent, important funding rounds in In Vitro Diagnostics companies in Australia and New Zealand:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 9113 | Apr 09, 2026 | - | |
Series A | 9001 | Sep 23, 2025 | ||
Series A | 8179 | Apr 17, 2023 | ||
Series C | 1295 | Feb 28, 2023 | ||
Series A | 8633 | Dec 04, 2022 |
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Top Investors in In Vitro Diagnostics in Australia and New Zealand
TPG is the top investor in In Vitro Diagnostics companies in Australia and New Zealand based on number of companies invested.
Here are some top investors in In Vitro Diagnostics companies in Australia and New Zealand:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Fort Worth (United States) | - | |
Menlo Park (United States) | - | |
Chester (United Kingdom) | - | |
London (United Kingdom) | - | |
Auckland (New Zealand) |
M&A activity in In Vitro Diagnostics sector in Australia and New Zealand
In the year 2025, till October 2025, 1 acquisition happened in In Vitro Diagnostics sector in Australia and New Zealand.
Here are some recent, important acquisitions in In Vitro Diagnostics sector in Australia and New Zealand:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Oct 17, 2025 | ||
Business Acquisition | Feb 15, 2023 | ||
Business Acquisition | Feb 25, 2018 | ||
Business Acquisition | May 25, 2016 | ||
Acqui-Hired | Jan 26, 2016 |
Acquisition trends in In Vitro Diagnostics sector in Australia and New Zealand
Here are the acquisition trends in In Vitro Diagnostics sector in Australia and New Zealand:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | - |
2023 | 1 |
2022 | - |
2021 | - |
2020 | - |
2019 | - |
2018 | 1 |
2017 | - |
IPOs in In Vitro Diagnostics in Australia and New Zealand
In the year 2025, till October 2025, 1 IPO happened in In Vitro Diagnostics sector in Australia and New Zealand.
Here are some recent, important IPOs in In Vitro Diagnostics sector in Australia and New Zealand:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Oct 14, 2025 | Australian Securities Exchange (ASX) | |
Sep 27, 2021 | Australian Securities Exchange (ASX) | |
Jul 21, 2021 | Australian Securities Exchange (ASX) | |
Dec 13, 2018 | Australian Securities Exchange (ASX) | |
Dec 07, 2017 | Australian Securities Exchange (ASX) |
Colleges which produce the most In Vitro Diagnostics companies in Australia and New Zealand
Companies founded by alumni from top colleges in the In Vitro Diagnostics in Australia and New Zealand
Most number of In Vitro Diagnostics startups in Australia and New Zealand have been founded by alumni from Harvard Business School, Harvard University and Monash University.
College | No. of companies |
|---|---|
Harvard Business School | 1 |
Harvard University | 1 |
Monash University | 1 |
Stanford University | 1 |
University of Oxford | 1 |
Total funding in In Vitro Diagnostics companies founded by alumni from top colleges in Australia and New Zealand
In the last 10 years, University of Oxford graduates' In Vitro Diagnostics companies in Australia and New Zealand have raised the most funding among top colleges. Stanford University alumni are second.
College | Total Funding |
|---|---|
University of Oxford | $15.5M |
Stanford University | $12.9M |
Harvard Business School | - |
Harvard University | - |
Monash University | - |
Top News in In Vitro Diagnostics in Australia and New Zealand
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Toku's AI to Spot Chronic Kidney Disease Through the Eye Wins FDA Breakthrough NodMedical Product Outsourcing•Apr 30, 2024•Toku Eyes
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Toku Obtains Ce And Ukca Markings For Ai Cardiovascular Risk Assessment Through The EyeBusiness Wire•Feb 05, 2024•Toku Eyes
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Toku's CLAiR Platform Wins FDA Breakthrough StatusMedical Product Outsourcing•Nov 02, 2023•Toku Eyes
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EMVision further develops its portable stroke scannerAustralian Manufacturing Forum•Oct 24, 2023•EMvision
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EMVision’s promising results from stroke imagingAustralian Manufacturing Forum•Oct 10, 2023•EMvision
