Exhibit 21.1

LIST OF SUBSIDIARIES

OF PARAGON 28, INC.

as of December 31, 2023

Company	Jurisdiction of Formation
Paragon 28 Medical Devices Trading Limited1	Ireland
Paragon 28 Australia PTY LTD2	Australia
Paragon 28 DE Gmbh1	Germany
Paragon 28 Italia SRL1	Italy
Disior Oy1	Finland
Paragon Advanced Technologies, Inc.1	Delaware
Paragon 28 UK, LTD1	United Kingdom

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1100% owned by Paragon 28, Inc.

2 100% owned by Paragon 28 Medical Devices Trading Limited