# Synex Medical

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/synex-medical

- Industry: Biotechnology
- Headquarters: Toronto, Canada
- Website: www.synexmedical.com
- Total disclosed funding: $27M
- Latest round: Series A (Sep 22, 2024)
- Investors on record: 6

## About

Synex Medical specializes in developing innovative non-invasive health monitoring technologies, focusing on real-time metabolic data measurement to enhance predictive and personalized medicine.Founded in 2017 and headquartered in Toronto, Canada, Synex Medical focuses on innovating health monitoring solutions. The company operates independently and has secured a total of USD 21.8 mn in funding, primarily through their Series A round on September 22, 2024, with participation from Accomplice, Radical Ventures, Khosla Ventures, and Fundomo Management. Ben Nashman, the CEO and founder, has led the company through its early development stages with a commitment to advancing non-invasive health technologies.Synex Medical develops non-invasive health monitoring technology that utilizes advanced magnetic resonance spectroscopy techniques. This innovative approach allows for real-time measurement of metabolic data, particularly targeting blood metabolites like glucose and lactate, eliminating the need for traditional needle pricks. Their solutions cater to a diverse market, including individuals managing chronic conditions and healthcare providers seeking effective monitoring solutions, with current operations focused on North America and plans for future global outreach.The revenue model of Synex Medical is primarily based on direct-to-consumer transactions, supplemented by partnerships with healthcare institutions. The company anticipates introducing subscription-based services for continuous health monitoring, enhancing its revenue generation. Their proprietary low-field magnetic resonance spectroscopy service is expected to integrate into health programs for individual users and healthcare organizations, although specific pricing details have not been disclosed.Following the recent Series A funding of USD 21.8 mn, Synex Medical plans to expedite the productization and clinical validation of its non-invasive glucose monitoring technology, with intentions to expand its capabilities to measure more metabolic data. The company aims to launch new products while targeting expansions into international markets, further increasing its reach within the healthcare sector. These efforts are set to enhance Synex's positioning in the health monitoring landscape as they refine their offerings and establish collaborations.

## Funding rounds

- Series A, Sep 22, 2024, $22M — Khosla Ventures, Accomplice, Radical Ventures, Fundomo Management
- Seed, Oct 29, 2020, $5.2M — Accomplice, Radical Ventures
- Seed, Jan 1, 2019 — Hedgewood, Creative Destruction Lab

## Investors

- Hedgewood — Seed
- Creative Destruction Lab (https://capitalatlas.ai/funds/creative-destruction-lab) — Seed
- Accomplice (https://capitalatlas.ai/funds/accomplice) — Seed, Series A
- Radical Ventures (https://capitalatlas.ai/funds/radical-ventures) — Seed, Series A
- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Series A
- Fundomo Management (https://capitalatlas.ai/funds/fundomo-management) — Series A