Signostics Inc. received $2 million from the Australian government to commercialize a new version of its pocket-sized ultrasound.

The grant is part of an $8 million package doled out to 19 start-ups by Commercialization Australia, a government group that gives money to innovative young companies. Signsotics, founded in 2005, is based in Adelaide, in southern Australia, although it also has offices in Palo Alto and Singapore.

Signostics says it will use the new money to help launch an updated version of its 1-pound, palm-sized ultrasound gadget, the Signos Personal. The company advertises the product as useful for point-of-care bladder exams, abdominal aortic aneurysm screenings and the like; it also makes a version for veterinarians.
According to the company, the device is "so easy to use that most clinicians learn to acquire quality images in less than an hour and is small enough to fit in a pocket or wear around the neck like a stethoscope."

It received Food and Drug Administration clearance in May 2009. In March 2010, Signostics also got $5 million in private investments, for a then-total of $19 million raised.

Other recipients of the current Australian grants include a bicycle accessories company, social networking tool and an engine manufacturer, according to Start-Up Smart.

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