London-based healthtech startup Sava Technologies has raised $36 million in a Series B funding round led by Ascensia Diabetes Care, a subsidiary of PHC Holdings Corporation.
The round also saw participation from Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments and Pentland Ventures, among other investors. The latest investment brings Sava’s total funding to $68 million.
Founded in 2019 by Imperial College London bioengineers Renato Circi and Rafaël Michali, Sava develops wearable biosensor technology designed to monitor molecules beneath the skin continuously. Its first product is a continuous glucose monitoring (CGM) device intended to provide real-time glucose measurements through minimally invasive microsensors.
The company’s technology uses short sensor filaments to measure glucose levels beneath the skin. Its broader platform is being developed to support continuous monitoring of additional biomarkers, including lactate, ketones and cortisol.
Alongside the funding, Sava entered into a strategic partnership with Ascensia Diabetes Care, which will serve as its exclusive commercialisation and distribution partner, initially in Europe. Ascensia, known for its CONTOUR blood glucose monitoring systems, will support the planned market introduction of Sava’s glucose microsensor, subject to regulatory approval.
Sava plans to use the Series B funding to expand manufacturing capacity, prepare for commercialisation and advance regulatory development.
The company is planning a pivotal clinical study in 2026 and is targeting CE approval for non-adjunctive glucose monitoring within 18 to 24 months of the announcement. Such approval would allow the device to support insulin dosing decisions without routine confirmation using fingerstick blood glucose tests.
Sava previously raised $19 million in a Series A round announced in July 2025, led by Balderton Capital and Pentland Ventures. That investment supported the company’s development, manufacturing and regulatory preparations for its wearable biosensor platform.
