New Zealand MedTech Startup Wellumio Secures $7.3M Pre-Series A Funding for Portable Stroke Diagnostic Revolution

New Zealand-based medtech innovator Wellumio has raised US$7.3 million in the first close of its pre-Series A funding round.

The investment was led by Nuance Connected Capital and includes participation from NZ Growth Capital Partners, Icehouse Ventures, Booster, Cure Kids Ventures, and retail investors via Snowball Effect.

From Research to Reality

Founded in 2019 by neuroscientist Shieak Tzeng and signal processing expert Paul Teal, Wellumio emerged from years of collaboration starting in 2013 to address gaps in acute stroke imaging.

Prior to this round, the company secured $1 million grants from New Zealand's Ministry of Business, Innovation, and Employment and $4.25 million in seed funding led by Outset Ventures.

Breakthrough Axana Technology

Wellumio's flagship Axana is a portable, low-field MRI device designed for point-of-care stroke detection, enabling diagnosis within the critical golden hour.

The technology leverages inside-out NMR principles, pulsed gradient-free imaging, and AI-powered Stroke-GPS for rapid, contrast-free brain perfusion assessment.

Recent prototypes have demonstrated efficacy in animal models, paving the way for human trials.

Clinical Trials and Global Impact

With the first patient enrolled in an Australian clinical trial at Royal Melbourne Hospital, Wellumio plans to expand to phase two studies funded by this investment.

This funding accelerates regulatory approvals, US market entry, and partnerships with stroke centers to scale manufacturing.

By bringing neuroimaging to ambulances and bedside, Axana could dramatically improve outcomes for millions affected by stroke annually.

The startup's progress underscores New Zealand's rising medtech prowess and potential to disrupt the global stroke diagnostics market.