About Synoste
Synoste is a company based in Espoo (Finland) founded in 2012 was acquired by Globus Medical in October 2020.. 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. Synoste operates in a competitive market with competitors including Biomet, Treace Medical Concepts, Bioretec, IlluminOss Medical and Loci Orthopaedics, among others.
- Headquarter Espoo, Finland
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Sectors
Healthcare
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$10.98 M (USD)
in 6 rounds
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Latest Funding Round
$5.89 M (USD), Series A
Oct 18, 2018
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Investors
Globus Medical
& 10 more
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Employee Count
Employee Count
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Acquired by
Globus Medical
(Oct 21, 2020)
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Products & Services of Synoste
Synoste offers a comprehensive portfolio of products and services, including ExcelsiusGPS, Biologics, and Excelsius3D. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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
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 Total Funding
- Total Rounds 6
- Last Round Series A — $5.9M
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First Round
First Round
(14 Nov 2013)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2018 | Amount | Series A - Synoste | Valuation | AO Invest , Innovestor |
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| May, 2017 | Amount | Series A - Synoste | Valuation |
investors |
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| Jan, 2016 | Amount | Series A - Synoste | Valuation | Evonik Venture Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Hongjiali is engaged in providing electric vehicle charging solutions.
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Founded Year | Domain | Location | |
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Venture capital investment in early-stage technology, life science, and Health startups
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Founded Year | Domain | Location | |
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Early-stage venture capital is invested in European startups across sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Synoste
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Synoste
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Synoste Comparisons
Competitors of Synoste
Synoste operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Biomet, Treace Medical Concepts, Bioretec, IlluminOss Medical and Loci Orthopaedics, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Orthopedic surgical and non-surgical products are designed and distributed.
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| domain | founded_year | HQ Location |
Orthopedic foot and ankle correction systems are developed and offered.
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| domain | founded_year | HQ Location |
Provider of bioabsorbable, bioactive and drug-releasing surgical implants
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| domain | founded_year | HQ Location |
Minimally invasive orthopedic systems for bone fracture stabilization are developed.
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| domain | founded_year | HQ Location |
Thumb implant for thumb base arthritis
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| domain | founded_year | HQ Location |
Orthopedic medical devices for upper and lower extremities are developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Synoste
Frequently Asked Questions about Synoste
When was Synoste founded?
Synoste was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Where is Synoste located?
Synoste is headquartered in Espoo, Finland.
Is Synoste a funded company?
Synoste is a funded company, having raised a total of $10.98M across 6 funding rounds to date.
What does Synoste do?
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.
Who are the top competitors of Synoste?
Synoste's top competitors include Treace Medical Concepts, Loci Orthopaedics and Bioretec.
What products or services does Synoste offer?
Synoste offers ExcelsiusGPS, Biologics, and Excelsius3D.
Who are Synoste's investors?
Synoste has 11 investors. Key investors include Globus Medical, Finnvera, Business Finland, Hongjiali, and Innovestor.