Sava Technologies, a London-based HealthTech company developing a wearable biosensor platform that detects molecules just beneath the skin, today announced a $36 million Series B round to fund manufacturing scale-up and commercial readiness.
The round was led by Ascensia, with participation from institutional investors Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, Pentland Ventures and others. In July 2025, the company announced a €16.6 million Series A funding round led by Balderton Capital and Pentland Ventures. In
This funding brings the company’s total funding to $68 million. The UK startup also announced an agreement appointing Ascensia, a subsidiary of PHC Holdings Corporation (TYO 6523), as its commercialisation and distribution partner, initially in Europe.
Renato Circi, co-founder and Co-CEO of Sava, said, “For decades, continuous monitoring has been held back by the same legacy technology. This is about to change. We’re thrilled to be partnering with Ascensia, a global powerhouse in the space, to deliver, as a first step, something radically better to millions of people with diabetes.”
Founded in 2019 by Imperial College London bioengineers Renato Circi and Rafaël Michali, Sava is a venture-backed consumer and medical device company behind a next-generation glucose microsensor. After five years in stealth, it emerged in June 2024 and announced that it had raised more than €7.4 million in a Seed funding round led by Balderton Capital and Exor Ventures.
The company says it has developed a wearable built on its proprietary microsensor technology that measures molecules just beneath the skin, painlessly and continuously. While the platform starts with glucose, it is also designed to track other biomarkers, opening the door to continuous sensing far beyond diabetes.
According to Sava, its microsensors are about ten times shorter than the filament in traditional continuous glucose monitors (CGMs), reducing disruption to the skin while still reaching interstitial fluid.
The company notes that since the technology was designed from the outset for high-volume manufacture, it is built to reach people at scale. It is now focusing on commercialisation and has therefore partnered with Ascensia to get there at scale.
Basel-based Ascensia is a member of PHC Group and was established in 2016 through the acquisition of Bayer Diabetes Care by PHC Holdings Corporation. Ascensia sells its products in more than 90 countries, with direct commercial organisations in 29 markets. Its portfolio includes the CONTOUR range of blood glucose monitoring systems.
Peter Bodlund, Chief Executive Officer of Ascensia, commented, “Microsensor technology has the potential to transform the day-to-day monitoring experience for people with diabetes. By bringing together Sava’s innovative technology with Ascensia’s deep diabetes expertise, strong reputation and commercial capabilities, we have an exciting opportunity to address important unmet needs in diabetes care. This is an exciting step for Ascensia as we continue to broaden our portfolio and pursue our ambition to simplify and improve life for people with diabetes.”
Sava is also planning a pivotal clinical study this year and is targeting CE approval for non-adjunctive use. This means the device could be used to make insulin dosing decisions without routine fingerstick confirmation—the standard required for a CGM to replace, rather than supplement, blood glucose testing. Subject to CE approval, Ascensia will lead the commercial launch, starting in Europe.
The company plans to use this capital to fund manufacturing scale-up and commercial readiness.
