Sava's $36M Raise: How a Tiny Sensor Could Change Diabetes Care

Jan de Vries · 2026-10-09

Sava Technologies, a London-based HealthTech company, just announced a €32.08 million ($36 million) Series B round. The funding will help scale up manufacturing and get their wearable biosensor platform ready for market. This is big news for anyone keeping an eye on EU Inc news and European startup incorporation, because it shows how European startups are attracting serious investment to solve global health challenges. ### What Sava Does and Why It Matters Sava is developing a wearable biosensor that detects molecules just beneath the skin. Their first target? Glucose monitoring for people with diabetes. But the technology is designed to track other biomarkers too, which could open doors to continuous sensing far beyond diabetes. That's a huge deal. Traditional continuous glucose monitors (CGMs) use a filament that's about 0.4 inches long. Sava's microsensor is roughly ten times shorter—about 0.04 inches. That means less disruption to the skin while still reaching interstitial fluid. And because it was built for high-volume manufacturing from the start, it's meant to reach millions of people, not just a select few. ### The Funding and Partnership Details The round was led by Ascensia, a global diabetes care company based in Basel, Switzerland. Other investors include Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, and Pentland Ventures. This brings Sava's total funding to €60.6 million ($68 million). In July 2025, Sava raised a €16.6 million Series A round led by Balderton Capital and Pentland Ventures. Before that, they emerged from stealth in June 2024 with over €7.4 million in seed funding. So they've been quietly building momentum for years. As part of the deal, Ascensia becomes Sava's commercialization and distribution partner, initially in Europe. Ascensia is a subsidiary of PHC Holdings Corporation (TYO 6523) and was formed in 2016 when PHC acquired Bayer Diabetes Care. They sell products in over 90 countries and have direct operations in 29 markets. Their portfolio includes the CONTOUR line of blood glucose monitoring systems. > "For decades, continuous monitoring has been held back by the same legacy technology. This is about to change," said Renato Circi, co-founder and Co-CEO of Sava. "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." ### What's Next for Sava? Sava is planning a pivotal clinical study this year and is targeting CE approval for non-adjunctive use. That 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. If approved, Ascensia will lead the commercial launch, starting in Europe. The company will use the new capital to fund manufacturing scale-up and commercial readiness. In other words, they're getting ready to put this technology into the hands of people who need it. ### Why This Matters for European Startups Sava's story is a great example of what European startups can achieve with the right backing. Founded in 2019 by Imperial College London bioengineers Renato Circi and Rafaël Michali, the company spent five years in stealth before emerging with a breakthrough technology. Now, with a major partnership and a hefty Series B, they're poised to make a real impact. For those following EU Inc news and European startup incorporation, this deal highlights the growing strength of Europe's healthtech sector. It also shows that European startups can attract global partners and compete on a world stage. Peter Bodlund, CEO of Ascensia, put it well: "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." So keep an eye on Sava. They're not just raising money—they're raising the bar for diabetes care. And that's something we can all get behind.