# Synoste

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/synoste

- Industry: Medical Devices & Equipment
- Headquarters: Espoo, Finland
- Website: www.synoste.com
- Total disclosed funding: $1.4M
- Latest round: Series A (Jan 22, 2016)
- Investors on record: 6

## About

Synoste Oy is a Finnish company specializing in innovative orthopedic solutions focused on enhancing the quality of life for patients with limb deficiencies, leveraging advanced technologies to improve surgical outcomes and recovery processes.Founded in 2012 in Espoo, Finland, Synoste Oy focuses on developing orthopedic solutions for limb deficiency patients. The founders, Antti Ritvanen and Juha Haaja, have leveraged their expertise to create a unique product portfolio. The company has secured a total of EUR 5.10 mn in funding, most recently in November 2020, with investors including AO Invest, High-Tech Gründerfonds, Innovestor, and Lifeline Ventures. Notably, in November 2020, Innovestor sold its shares to Globus Medical, Inc., while Lifeline Ventures continues to hold its stake.Synoste Oy specializes in developing advanced orthopedic solutions aimed at improving the quality of life for patients with limb deficiencies. Their core offerings include innovative surgical implants and technologies that support limb reconstruction and rehabilitation. The company’s products are designed specifically for surgical applications, addressing various patient needs through a comprehensive portfolio that enhances surgical care and patient outcomes in healthcare settings. Synoste Oy collaborates with healthcare professionals to ensure effective integration of their products into clinical practices, focusing on education and support.In 2023, Synoste Oy reported a revenue of EUR 3,735,443.40 and an EBITDA of EUR -1,038,703.80. The revenue is generated through the direct sale of its medical devices and technologies to healthcare providers, utilizing a B2B business model that includes agreements with hospitals and surgical centers for consistent product supply.Looking ahead, Synoste Oy plans to enhance its product offerings with new orthopedic solutions aimed at addressing limb deficiencies and improving surgical outcomes. The company is targeting geographical expansion into key markets in Europe and Asia by 2025, leveraging recent funding of EUR 5.10 mn to support development and market entry efforts. The funding will also facilitate ongoing research and partnerships with medical institutions to broaden the impact of their innovative solutions, ensuring they remain at the forefront of orthopedic advancements. The strategic pivot following the acquisition by Globus Medical, Inc. positions Synoste Oy to accelerate its growth trajectory in the orthopedic sector.

## Funding rounds

- Series A, Jan 22, 2016 — Evonik Venture Capital
- Series A, May 11, 2015, $1.4M — High-Tech Gruenderfonds, Finnvera, Lifeline Ventures, Mectalent Oy, Metsola Ventures

## Investors

- High-Tech Gruenderfonds (https://capitalatlas.ai/funds/high-tech-gruenderfonds) — Series A
- Finnvera (https://capitalatlas.ai/funds/finnvera) — Series A
- Lifeline Ventures (https://capitalatlas.ai/funds/lifeline-ventures) — Series A
- Mectalent Oy — Series A
- Metsola Ventures — Series A
- Evonik Venture Capital (https://capitalatlas.ai/funds/evonik-venture-capital) — Series A