Perth, Australia-based insole company Synxsole scored a $100,000 investment from Australian investor Andrew Banks during the first season of the entrepreneurial reality show Shark Tank Australia, which wrapped up in June.
The two podiatrists who invented a customizable prefabricated orthosis found their company in a three-way bidding war among the show’s “sharks,” or judges. Banks won, and now owns 45% of the company, which intends to move its slimline orthosis into the Australian market before spreading into the US and Europe.
The device has a neutral rearfoot and can be customized for pronation or supination, trimmed to fit, and cut to half-length sizes.
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