Navi raises $A6.8M for US launch

Navi Medical Technologies, a Melbourne- and Boston-based medical device company, closed a $A6.8 million capital raise to commercialize its Neonav pediatric vascular access technology in the United States. The round was led by healthcare venture capital firm KP Rx, which invested $A4 million, with participation from existing investor Australia — Innovation Victoria and New Zealand- and Melbourne-based Pacific Channel. The funds will be used to expand manufacturing, build the US commercial team, and support the launch of Neonav into leading children's hospitals. The raise follows US FDA 510(k) clearance in 2025 and an expanded indication in 2026, as well as clinical evaluations at two US children's hospitals. Commercial sales are expected to commence in 2026.