Finnish startup Surgify Medical Oy raises €1.4 million and is looking for international breakthrough with safer surgical technology

Surgify Medical Oy, a Finnish company that develops safer surgical technology, has raised €1.4 million in funding from both domestic and foreign investors.

Picture of Surgify's team

ESPOO, Finland (January 8th, 2021, 9 AM GMT) In addition to existing backers, among the investors in the startup’s third round were Finnish venture capital investor Innovestor Ventures, Swedish investor Peter Lindell, and well-known Finnish angel investor and healthcare entrepreneur Leena Niemistö. The funding will be used to bring Surgify’s safer surgical drill to market.

Surgify’s internationally recognised technology is intended to prevent nerve and blood vessel injuries caused by surgical drills. The company believes that their technology plays an important role in saving lives and making bone surgery safer. Furthermore, the time and money spent on surgeries could be decreased considerably. In addition to performing various surgical procedures in the head, neck, and spine areas, the technology can be used in dental procedures, as well as surgical robotics.

”The technology developed and patented by us has worked excellently in pre-clinical trials, and has prevented practically all relevant complications. We have raised the interest of leading hospitals in both Europe and the US, and the industry’s largest players have also expressed their interest in collaborating,” said the company’s CEO, Visa Sippola.

Surgify aims to reshape how surgery is performed

Surgify received a sales approval for its product in May, and since then has focused on developing its production. Potential factors contributing to the adoption of the technology in hospitals include ease of use, as well as expected reductions in surgical costs and complications.

The company’s investors see significant challenges brought about by an ageing population, prompting a growth in the number of surgical patients. Today, global costs resulting from complications with surgical drills total over €4 billion annually.

”Surgify’s technology contributes to solving major public health issues, and enables fundamental changes in the surgical market. Innovestor decided to invest in Surgify because of its promising technology and founding team, and because its mission genuinely adds value to society”, commented Innovestor Group’s partner and head of investments, Wilhelm Lindholm.

The rapidly growing startup has spent a significant amount of effort on product development and trials with numerous surgeons. The company is now bringing its technology to the market, aiming for first hospital customers in Finland and the Nordics next year, and expanding to international markets after this.

”This third investment round is an important milestone for Surgify, and, combined with the market approval and patents, positions the company well for market entry. Despite long development cycles in the medical industry, we believe that our work will pay off and that we have a good foundation for building a global business”, Sippola celebrates.

Published in:

Additional information
Visa Sippola
CEO, Surgify Medical
visa.sippola@surgifymedical.com
+358 50 353 1232

Surgify Medical Oy is a Finnish healthcare technology startup, founded in 2017. The company is developing an internationally recognised surgical drill that aims to make bone surgery safer.

The technology was originally developed in a collaboration between Aalto University and the Helsinki University Hospital Department of Neurosurgery. The product is a safety tip that is connected to existing surgical drills. The patented safety mechanism prevents the drill from damaging important soft tissues, such as nerves and blood vessels.

Wave Ventures and Visa Sippola Discussed about Surgify and MedTech in General

Our early investor Wave Ventures sat down with Visa Sippola, the CEO and co-founder of Surgify to discuss the company’s journey, future plans and the field of MedTech in general.

You can listen to the full Wavecast interview at:

If you want to learn more about Wave Ventures, read more at wave.ventures.

We’re hiring a Junior Product Development Engineer (Apply by July 10th 2019, edit: application period has been closed)

EDIT: Thank you for all of the applicants! We have found a talented engineer to join our team.

Guess what?! We’re looking for a talented Junior Product Development Engineer to join our great team in Otaniemi! Apply here by July 10th! Great opportunity to join on our mission to make bone surgery safer!

Further information: aTalent Recruiting – Junior Product Development Engineer (healthtech) (EDIT: the application has been closed)

Finnish companies Surgify and LullaMe won European Venture Contest 2018

EVC 2018 winner
Surgify and LullaMe were winners of European Venture Contest 2018

Last week, the European Venture Contest connected European startups and venture capitalists in Düsseldorf, Germany for the 12th time. In a competition of over 2 400 startup companies, Finnish companies Surgify and LullaMe were chosen as winners of their own categories. 

”This is excellent for our Finnish companies! There are surprisingly many startups in Finland that are interesting to venture capitalists” tells Visa Sippola, CEO of Surgify.

Over 2 400 startups from 27 countries applied to the European Venture Contest. 600 interesting companies made it to the regional semifinals and 125 best companies were invited to the final in Düsseldorf. In the final, a jury, consisting of venture capital investors, chose the winners for each of the 24 categories of the competition.

Surgify and LullaMe were two of these jury favorites based on an assessment of an online application and a live pitch presentation in Düsseldorf.

Surgify develops surgical drill technology which cuts bone selectively and protects the vital soft structures of the patients. LullaMe sells and produces innovative rocking mattresses that help babies to sleep.

”According to professional investors, we are now among the most interesting 1 percent of European growth companies. This gives us the best possible kick for the international growth”, says Hanna Sissala, CEO & Founder of LullaMe.

Read more at: 

Surgify at Medica 2018 in Düsseldorf (13.11. – 14.11)

Surgify is attending Medica 2018 in Düsseldorf on November 13th and 14th.

Medica is the leading international trade fair for the medical sector. The event gathered a massive 123 500 visitors from 130 different countries and 5 100 exhibitors.

Surgify is contributing to the development of new surgical technologies in bone surgery, especially in head, neck and spine procedures. We would be happy to meet you and discuss more!

Send us a message in LinkedIn or on our website, let’s work out a time for a face-to-face meeting!

See you in Düsseldorf!