Sava Technologies, a London-based healthtech company, has closed a €32.08 million Series B funding round to accelerate the development and commercialization of its advanced glucose microsensor technology. The round was led by Ascensia, a major player in diabetes management solutions, alongside participation from Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, and Pentland Ventures.
The fresh capital brings Sava’s total funding to €60.6 million since its founding in 2019. The company plans to deploy the investment primarily toward manufacturing scale-up and commercial readiness initiatives, positioning the microsensor for launch across European markets.
Partnership Unlocks European Distribution
The financing announcement coincides with a strategic partnership between Sava and Ascensia, which will handle distribution and commercialization of the glucose microsensor throughout Europe. This collaboration represents a significant step forward for the startup, providing access to Ascensia’s established infrastructure and expertise in the diabetes monitoring space.
Renato Circi, Co-founder and Co-CEO of Sava, commented on the milestone: “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.”
Addressing an Unmet Clinical Need
Sava’s glucose microsensor technology aims to improve upon existing continuous glucose monitoring solutions, which currently dominate the market but rely on established design principles that have remained relatively unchanged for years. The company’s approach seeks to deliver enhanced performance, reliability, and user experience for individuals requiring regular glucose monitoring.
The timing of the funding round reflects growing investor confidence in medical device innovations that address chronic disease management. Continuous glucose monitoring systems have become increasingly important as healthcare systems worldwide grapple with rising diabetes prevalence and the need for better patient outcomes and quality of life improvements.
European Healthtech Momentum Continues
The funding announcement underscores the continued vitality of the European healthtech sector, where entrepreneurs continue to attract substantial investment for medical innovations. Sava’s success in securing backing from both specialized venture capital firms and strategic industry partners demonstrates investor appetite for technologies that promise tangible clinical improvements over existing solutions.
The company’s progress from Series A to Series B within a reasonable timeframe, coupled with the strategic partnership with an established industry player, reflects a pathway increasingly common among European medtech startups aiming for rapid commercialization and market penetration. As regulatory pathways and manufacturing capabilities mature across the region, companies like Sava are positioned to bring novel healthcare solutions to European patients more efficiently than ever before.