About Medical Devices sector in Melbourne, Australia
The Medical Devices sector in Melbourne, Australia comprises 73 companies, including 35 funded companies having collectively raised $287M in venture capital money and private equity. Out of these, 16 are Series A+ funded.
Medical Devices sector in Melbourne, Australia has seen 1 acquisition and 8 IPOs. This represents almost 12.3% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes companies engaged in R&D for developing medical devices for the diagnosis and treatment of various medical conditions.
Medical devices used for treatment, screening, and diagnosis of diseases are included in this sector. Healthcare Service Providers, Digital Health Software Solutions (Apps and Web-based solutions), Traditional Medical Devices are excluded.
Top Medical Devices Companies in Melbourne, Australia
There are 73 Medical Devices startups in Melbourne, Australia which include PolyActiva, Epiminder, CurveBeam AI, Nutromics, Telix Pharma. Out of these, 35 startups are funded, with 16 having secured Series A+ funding.
Over the past 10 years, an average of 2 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Carnegie Mellon University and RMIT University.
Here is the list of top Medical Devices startups in Melbourne, Australia
1. PolyActiva
PolyActiva has developed a platform technology for slow-release, site-specific drug delivery. Upon the application of the treatment, complete erosion of the implant occurs leaving no residue following drug release. This technology can be used to produce new biomedical products, drug-delivery devices and device components that enable delivery of drugs directly to the affected organ or treatment site. They are produced from a proprietary drug-polymer conjugate technology. Products are being developed for glaucoma, endophthalmitis, and osteoarthritis.
Key facts about PolyActiva
- Founded Year: 2010
- Location: Melbourne (Australia)
- Stage: Series C
- Total Funding till date: $46.7M
- Investors: Brandon Capital, National Reconstruction Fund and 2 Others
- Latest Funding Round: Series C, May 30, 2025, $*****
- Tracxn Score: 56/100 What is this?
- Competitors Rank: 38 of 2,694 Competitors
2. Epiminder
Developer of an implantable device for EEG monitoring. Its minder sub-scalp system is used for the recording of brain electrical activity associated with the occurrence of epileptic seizures.
Key facts about Epiminder
- Founded Year: 2018
- Location: Melbourne (Australia)
- Stage: Public
- Total Funding till date: $24.5M
- Investors: University of Melbourne, Cochlear and 3 Others
- Latest Funding Round: Series A, Mar 15, 2022, $*****
- Tracxn Score: 55/100 What is this?
- Competitors Rank: 3 of 68 Competitors
3. CurveBeam AI
Developer of AI-powered CT imaging solutions. The company is developing AI-based weight-bearing CT (WBCT) imaging systems for the orthopedic and musculoskeletal (MSK) specialties for the diagnosis of lower extremity conditions.
Key facts about CurveBeam AI
- Founded Year: 2009
- Location: Melbourne (Australia)
- Stage: Public
- Total Funding till date: $25.3M
- Investors: Firetrail, Karst Peak Capital and 2 Others
- Latest Funding Round: Series A, Feb 07, 2023, $*****
- Tracxn Score: 54/100 What is this?
4. Nutromics
Developer of a patch to monitor and provide insights into patient's health. The company is developing a continuous molecular monitoring platform technology that includes a lab-on-a-patch device to track multiple, crucial targets continuously and in real-time, giving clinicians critical, personalized insights.
Key facts about Nutromics
- Founded Year: 2017
- Location: Melbourne (Australia)
- Stage: Series A
- Total Funding till date: $39.6M
- Investors: VU Venture Partners, Dexcom Ventures and 4 Others
- Latest Funding Round: Series A, Sep 20, 2025, $*****
- Tracxn Score: 54/100 What is this?
- Competitors Rank: 17 of 1,269 Competitors
5. Telix Pharma
Developer of theranostic radiopharmaceuticals for imaging and treating cancer. It offers TX250, a Girentuximab antibody with an imaging payload (124-I or 177-Lu), targeting carbonic anhydrase IX, indicated for CCRC, and treatment with 177Lu and NSCLC.
Key facts about Telix Pharma
- Founded Year: 2015
- Location: Melbourne (Australia)
- Stage: Public
- Investors: China Grand Pharmaceutical and Healthcare
- Latest Funding Round: Post IPO, Nov 02, 2020, $*****
- Tracxn Score: 52/100 What is this?
- Competitors Rank: 422 of 3,139 Competitors
Companies founded year-on-year in the Medical Devices sector in Melbourne
10 Medical Devices startups in Melbourne were founded in 2018 - 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 | 1 |
2024 | - |
2023 | - |
2022 | - |
2021 | - |
2020 | 4 |
2019 | 3 |
2018 | 10 |
2017 | 9 |
Stage-wise distribution of Medical Devices sector companies in Melbourne
Out of the total 73 Medical Devices companies in Melbourne, 35 have secured funding. Among them, 16 have reached Series A or higher, and 10 to Series B or beyond.
Founded - 73
Funded - 35
Series A+ - 16
Series B+ - 10
Series C+ - 10
Company Stage | No. of companies |
|---|---|
Founded | 73 |
Funded | 35 |
Series A+ | 16 |
Series B+ | 10 |
Series C+ | 10 |
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Funding Trends in the Medical Devices sector in Melbourne
Total funding year-on-year in the Medical Devices sector in Melbourne
The Medical Devices sector in Melbourne saw a total funding of more than $251M in the last 10 years. The most amount of funding was in 2021 at more than $60.2M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $32.3M |
2024 | $8.15M |
2023 | $38.2M |
2022 | $28.2M |
2021 | $60.2M |
2020 | $57.4M |
2019 | $10.9M |
2018 | $14.5M |
2017 | $60K |
Recent Funding Rounds in Medical Devices in Melbourne
In the year 2025, till October 2025, Medical Devices companies in Melbourne have raised $32.3M in equity funding across 3 rounds.
In the same period last year (i.e. till August 2024), Medical Devices companies in Melbourne had raised $1.5M across 1 round.
So, 2025 has seen a 2053.17% rise in funding in Medical Devices companies in Melbourne as compared to 2024.
Here are some recent, important funding rounds in Medical Devices companies in Melbourne:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 2774 | Oct 17, 2025 | - | |
Series A | 4751 | Sep 20, 2025 | - | |
Series C | 9795 | May 30, 2025 | ||
Series A | 5964 | Dec 06, 2024 | ||
Seed | 1628 | Aug 12, 2024 | - |
Top Investors in Medical Devices in Melbourne
IP Group is the top investor in Medical Devices companies in Melbourne based on number of companies invested.
Here are some top investors in Medical Devices companies in Melbourne:
Investor | Location | Top Portfolio Companies |
|---|---|---|
London (United Kingdom) | - | |
Melbourne (Australia) | ||
Melbourne (Australia) | - | |
Fort Worth (United States) | - | |
Melbourne (Australia) | - |
M&A activity in Medical Devices sector in Melbourne
In the year 2025, till October 2025, 1 acquisition happened in Medical Devices sector in Melbourne.
Here are some recent, important acquisitions in Medical Devices sector in Melbourne:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Oct 06, 2025 |
Acquisition trends in Medical Devices sector in Melbourne
Here are the acquisition trends in Medical Devices sector in Melbourne:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | - |
2023 | - |
2022 | - |
2021 | - |
2020 | - |
2019 | - |
2018 | - |
2017 | - |
IPOs in Medical Devices in Melbourne
In the year 2025, till December 2025, 1 IPO happened in Medical Devices sector in Melbourne.
Here are some recent, important IPOs in Medical Devices sector in Melbourne:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Dec 01, 2025 | Australian Securities Exchange (ASX) | |
Oct 29, 2024 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Aug 23, 2023 | Australian Securities Exchange (ASX) | |
Dec 18, 2018 | Australian Securities Exchange (ASX) | |
Nov 15, 2017 | Australian Securities Exchange (ASX) |
Colleges which produce the most Medical Devices companies in Melbourne
Companies founded by alumni from top colleges in the Medical Devices in Melbourne
Most number of Medical Devices startups in Melbourne have been founded by alumni from Carnegie Mellon University and RMIT University.
College | No. of companies |
|---|---|
Carnegie Mellon University | 1 |
RMIT University | 1 |
Top News in Medical Devices in Melbourne
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Telix and Varian Collaborate to Improve Theranostics and EBRT AccessibilityGlobeNewswire•Dec 10, 2025•Varian Medical Systems, Telix Pharma
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Heidelberg Pharma’s Partner Telix Receives FDA Update for TLX250-CDxWebDisclosure•Aug 28, 2025•Telix Pharma
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Illuccix Receives FDA Approval for Pre-Taxane RLT Patient SelectionGlobeNewswire•Jun 23, 2025•Telix Pharma
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FDA Approves Minder®, First Implantable Continuous EEG Monitor in the USVietnam Investment Review•Apr 23, 2025•Epiminder
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