New Zealand Startup Wellumio Bags $9.75 Mn for Portable AI Stroke Detection Device

The round also attracted support from Flying Kiwi and Enterprise Angels, along with international investors through the New Zealand Government's Active Investor Plus (AIP) programme and retail investors through Snowball Effect.

The new funding will help Wellumio grow its team, strengthen its technology, and speed up its clinical trials, regulatory approvals, and commercial launch.

Dr Shieak Tzeng, Co-founder and CEO of Wellumio, says investor support from New Zealand, Australia and the United States demonstrates growing international confidence in Wellumio`s mission to improve stroke diagnosis and recovery through its portable neuroimaging technology.

“Every minute counts in stroke care, yet only a small proportion of patients receive treatment within the golden hour, when timely intervention offers the best chance of reducing long-term disability. Our portable, AI-enhanced MRI-based brain imaging technology is designed to rapidly detect acute stroke at the point of care, helping clinicians make faster treatment decisions when time matters most".

“The additional investment, combined with the expertise and international networks our investors bring, will help accelerate our clinical validation, regulatory and commercial milestones as we work to bring our technology closer to healthcare providers and patients who need it most.”

Jeff Reid, General Partner of Bioshore Ventures, said, “Bioshore Ventures is delighted to participate in Wellumio’s pre-Series A round. As a dedicated medtech fund focused on game-changing technologies developed in our region, we have been extremely impressed by what the Wellumio team has achieved.

“There is a significant global opportunity to improve stroke care, with timely diagnosis being a critical element of the care continuum. We believe Axana is at the forefront of a major shift toward faster, point-of- care stroke diagnosis, and we look forward to working with the Wellumio team to bring this technology to healthcare systems around the world.”

Founded in 2019 by Shieak Tzeng and Sergei obruchkov Wellumio is a New Zealand medical device company developing portable brain imaging technology to help doctors detect strokes more quickly and accurately. Its main product, Axana®, is designed to provide fast stroke assessments at the point of care.

Axana® uses Wellumio's Pulsed Gradient Free Mapping (PGFM) technology to identify brain tissue affected by a stroke. The device is designed to overcome the limitations of traditional MRI systems, helping doctors make faster treatment decisions and improve patient outcomes.

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