Melbourne quintet Rolling Blackouts Coastal Fever have been awarded Levi's Music Prize and nabbed themselves a cool $25,000 in grant funds.

Now in its third round, the prize aims to support artists that have built significant momentum following their BIGSOUND showcase.

Post the band's showcase in 2016, they released their EP The French Press on Sub Pop Records and are currently touring the US and Europe, playing festivals like Coachella, The Great Escape and Primavera Sound.

"BIGSOUND provided the opportunity for us play a bunch of shows in front of music industry folks from around the world. Because of the conference we were able to secure a US booking agent and set things in motion for us to start touring our music," the band said.

"Because touring is not cheap, particularly for Australian bands, it is not easy for young artists to take their music on the road. The Levi’s Music Prize will help us tour our album to new audiences in new cities and towns.”

Previous awardees of the grant include Alex Lahey and Stella Donnelly.

Applications for the fourth round of the prize are open now and close 11 June; for more information, head over to the BIGSOUND website.