About Synoste
Synoste is a Healthcare company based in Espoo (Finland) founded in 2012, and was acquired by Globus Medical in October 2020. Limb lengthening device. Synoste has raised $10.98 million across 6 funding rounds from investors including Globus Medical, Finnvera and Business Finland. Synoste offers products and services including ExcelsiusGPS, Biologics, and Excelsius3D. Its focus areas include Life Sciences, Orthopedics, Medical Devices and Therapies.
Company details
Synoste was founded in 2012 as a spin-out from Aalto University in Espoo, Finland. A medical device is being developed for treating skeletal deformities through gradual limb lengthening. Smart materials are utilized, with energy transferred via electromagnetic induction into an intramedullary nail. The bone is stretched by 27 cm over several months in the medical technology sector.
- Headquarters Espoo, Finland
- Stage Acquired
- SectorsHealthcare
- Website synoste.com
- Social LinkedIn Instagram YouTube
- Acquired by Globus Medical (Oct 2020)
- Total Equity Funding$10.98M (USD)
in 6 rounds
- Latest Funding Round$5.89M (USD), Series A
Oct 2018
- InvestorsGlobus Medical
& 10 more
- Acquired byGlobus Medical
(Oct 2020)
Products & Services of Synoste
Synoste offers a comprehensive portfolio of products and services, including ExcelsiusGPS, Biologics, and Excelsius3D.
System for precise guidance in spine surgery procedures
Products for bone healing and tissue support in surgeries
3D imaging tool for surgical planning and execution
Apps and channels of Synoste
its YouTube channel Globus Medical has 2.78K subscribers and 30 videos.
Videos from Synoste
The most watched videos on Synoste's YouTube channel, Globus Medical (2.78K subscribers). Click a video to play it here.
More on Globus Medical.
Funding Insights of Synoste
Synoste has successfully raised a total of $10.98M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $5.89 million completed in October 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $10.98M
- Total Rounds 6
- Last Round Series A — $5.89M
- First Round $3.76M
(Nov 2013)
- Investors Count 10
All 6 funding rounds of Synoste with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2018 | $5.89M | Series A | – | AO Invest, Innovestor | – |
| May 2017 | Series A | – | – | ||
| Jan 2016 | Series A | – | Evonik Venture Capital | ||
| May 2015 | $1.11M | Grant | – | – | |
| May 2015 | $1.34M | Series A | – | Mectalent | |
| Nov 2013 | $3.76M | Seed | – | Finnvera, HTGF |
11 investors in total: 11 institutional.
Investors in Synoste
Synoste has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include Globus Medical, Finnvera and Business Finland.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Hongjiali is engaged in providing electric vehicle charging solutions. | ao-invest.com | Shenzhen, China | ||
Venture capital investment in early-stage technology, life science, and Health startups | innovestorgroup.com | Helsinki, Finland | ||
Early-stage venture capital is invested in European startups across sectors. | lifelineventures.com | Helsinki, Finland | ||
Corporate venture capital investments are made by Evonik. | venturing.evonik.com | |||
Early-stage investments are made in high-tech startups by HTGF. | htgf.de | Bonn, Germany | ||
| innovestorventures.com | ||||
Loans, investments, and financial services are provided to businesses. | 1999 | finnvera.fi | Helsinki, Finland | |
Mectalent is engaged in product development and precision manufacturing. | 1982 | mectalent.fi | Oulu, Finland | |
| eurostars-eureka.eu | ||||
Innovation, internationalization, and investment support for businesses is provided. | 1983 | businessfinland.fi | Helsinki, Finland |
Investor details for Synoste
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Timeline of Synoste
4 dated milestones of Synoste across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Synoste is founded.
- Funding First funding round of $3.8M.
- Funding Latest funding round, Series A, of $5.9M.
- Exit Acquired by Globus Medical.
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Related news about Synoste
Complete news archive for Synoste
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Frequently Asked Questions about Synoste
Synoste was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Synoste is headquartered in Espoo, Finland.
Synoste is a funded company, having raised a total of $10.98M across 6 funding rounds to date. The company's 1st funding round was a Seed of $3.76M, raised on Nov 2013.
Synoste was founded in 2012 as a spin-out from Aalto University in Espoo, Finland. A medical device is being developed for treating skeletal deformities through gradual limb lengthening. Smart materials are utilized, with energy transferred via electromagnetic induction into an intramedullary nail. The bone is stretched by 27 cm over several months in the medical technology sector.
Synoste offers ExcelsiusGPS, Biologics, and Excelsius3D.
Synoste has 11 investors. Key investors include Globus Medical, Finnvera, Business Finland, Hongjiali, and Innovestor.
Yes. Synoste was acquired by Globus Medical in October 2020.