Sava’s €32.08 Million Funding Boost and Partnership with Ascensia to Launch Glucose Microsensor in Europe

Sava Technologies Secures €32.08 Million in Series B Funding Round

Sava Technologies, a HealthTech company based in London, has successfully raised €32.08 million ($36 million) in a Series B funding round. The company specializes in developing a cutting-edge wearable biosensor platform that can detect molecules just beneath the skin. This latest funding will be utilized to scale up manufacturing operations and prepare for commercial deployment.

The lead investor in this round was Ascensia, a prominent player in the healthcare industry. Other institutional investors who participated in the funding include Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, and Pentland Ventures. Back in July 2025, Sava Technologies had announced a Series A funding round of €16.6 million, led by Balderton Capital and Pentland Ventures.

With the completion of the Series B round, Sava Technologies has now amassed a total funding amount of €60.6 million ($68 million). Additionally, the company has struck a strategic agreement with Ascensia, a subsidiary of PHC Holdings Corporation, to serve as its commercialization and distribution partner, initially focusing on the European market.

Renato Circi, the Co-founder and Co-CEO of Sava, expressed his excitement about the partnership with Ascensia, stating, “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.”

Established in 2019 by Imperial College London bioengineers Renato Circi and Rafaël Michali, Sava Technologies is a venture-backed company specializing in consumer and medical devices. The company’s flagship product is a next-generation glucose microsensor, designed to offer painless and continuous monitoring of molecules just beneath the skin. Beyond glucose tracking, the platform has the capability to monitor other biomarkers, expanding its application beyond diabetes management.

Sava Technologies boasts microsensors that are significantly shorter than those found in traditional continuous glucose monitors (CGMs), minimizing skin disruption while still effectively measuring interstitial fluid levels. The company’s technology is geared towards high-volume manufacturing, enabling widespread accessibility. Collaborating with Ascensia aligns with Sava’s goal of advancing commercialization efforts.

Ascensia, based in Basel, is a member of the PHC Group and was formed in 2016 following the acquisition of Bayer Diabetes Care by PHC Holdings Corporation. The company operates in over 90 countries, with a presence in 29 markets through direct commercial organizations. Its product portfolio includes the CONTOUR range of blood glucose monitoring systems.

Peter Bodlund, the Chief Executive Officer of Ascensia, emphasized the transformative potential of microsensor technology in diabetes care. By combining Sava’s innovative technology with Ascensia’s expertise and commercial capabilities, the partnership aims to address critical unmet needs in diabetes management. Ascensia plans to lead the commercial launch of Sava’s technology, starting in Europe upon receiving CE approval.

In the pipeline for Sava is a pivotal clinical study slated for this year, with a focus on obtaining CE approval for non-adjunctive use. This approval would allow the device to make insulin dosing decisions without routine fingerstick confirmation, a significant advancement in diabetes monitoring. Ascensia’s role will be pivotal in the commercialization of the device post-approval.

With the newly secured funding, Sava Technologies is gearing up for manufacturing scale-up and commercial readiness, underscoring its commitment to revolutionizing healthcare technology.