NEMIC Fellow, Western Australia BioBridge Partner VeinTech Earns $750k Non-Dilutive Grant
Perth, Australia / Providence, Rhode Island — 9th June 2025 – Funding Propels Australia-Born MedTech Startup into Global Spotlight. VeinTech, a rapidly emerging medtech innovator revolutionizing IV insertion, has been awarded a USD $750,000 non-dilutive grant by the Rhode Island Life Science Hub as part of its highly competitive New Business Attraction Program. The funding will support VeinTech's expansion into the United States, including its first U.S. office in Providence, Rhode Island, accelerating its FDA pathway, limited market release, and manufacturing scale-up.
The grant forms part of a broader initiative by the RILSH to attract high-impact global healthcare innovators to Rhode Island and marks a major milestone in VeinTech’s global commercial journey. This move builds on the Perth Biodesign–New England Medical Innovation Center (NEMIC) alliance, which initially connected VeinTech with the New England innovation ecosystem and laid the foundation for the company’s cross-continental expansion.
“Being selected alongside top-tier U.S. medtech companies validates not only our technology but our global scalability,” said Dr. Nikhilesh Bappoo, CEO and Co-Founder of VeinTech. “This non dilutive capital gives us strategic runway to execute critical milestones while preserving value for investors—something few early-stage companies can offer in the current climate.”
VeinTech’s flagship product empowers any healthcare worker, not just specialists, to confidently insert IVs with real-time vein visualization. By transforming workforce capability and reducing the need for advanced training, VeinTech boosts procedural throughput and addresses a deceptively simple but globally costly problem: failed IV insertions. These insertions affect up to 2 in 3 patients, have an average 40% failure rate, and cost billions annually.
"This is not just another medtech startup—VeinTech is one of the hottest early-stage healthtech companies globally right now," said Chairman Peter Traianou, a global veteran of the medical device industry. "We're building dual sovereign ultrasound capability in WA and unlocking U.S. market access—all while building a cross-continental pipeline that starts in Perth and scales globally."
In the face of global trade uncertainty and rising import tariffs, this investment allows VeinTech to secure U.S.-based production, avoid tariff barriers, and deepen integration with American hospital networks. With this grant secured, VeinTech is now in the final stages of closing its next $2.5M round. This grant significantly de-risks the opportunity, offering investors rare alignment of non-dilutive funding, regulatory momentum, and early-stage international traction. Discussions with strategics are already underway, and investor demand is growing.
“We are very excited to have VeinTech join our growing Life Science community here in Rhode Island. We look forward to a strong partnership with the VeinTech team and collaborating to accelerate their Innovative technology, allowing patients and communities in the US to benefit from this novel medical device” stated Dr. Mark Turco, President and CEO RI Life Science Hub
About VeinTech:
VeinTech is changing the way IV insertions are done—making a tricky, often painful procedure much easier and more reliable. Our first product, VeinWise, is a portable imaging device that helps any nurse or healthcare worker find the right vein, first time, every time. We don’t just stop at getting the needle in—we focus on the whole process of vein access, from choosing the best vein to making sure the IV stays in place and works properly. VeinTech’s business combines device sales with recurring consumables. We’ve already raised over USD$4 million and built strong partnerships in Australia and the U.S. Now, we’re ready to take the next big steps: FDA submission, pilot studies in U.S. hospitals, and ramping up production. Our mission is simple: help clinicians work smarter and faster, reduce costs for hospitals, and make patients’ lives a little easier. With our solid plan and strong momentum, VeinTech is ready to transform vascular access.
About RILSH:
The Life Science Hub positions the state to deliver on a bold vision of transforming Rhode Island into a globally recognized life science innovation hub by coalescing existing stakeholders, activities, and investments while building new capabilities. Through an initial three-year, $45 million investment, the Hub will serve as the central and coordinating organization facilitating the development of medical advances and scientific breakthroughs by supporting companies that specialize in life sciences.
Learn more:
https://www.veintech.com.au/
https://www.linkedin.com/company/veintech/
Media Contacts: Nikhilesh Bappoo Ph +61 406 659 568 E nbappoo@veintech.com.au
