London's Sava raises $36 million and partners with Ascensia to bring glucose microsensor to Europe
London-based HealthTech company Sava has raised a $36 million Series B round led by Ascensia. Ascensia will also act as its commercialisation and distribution partner, initially in Europe.
Sava Technologies, a London-based HealthTech company developing a wearable biosensor platform that detects molecules just beneath the skin, has announced a $36 million Series B funding round. The money is meant for scaling up manufacturing and preparing for commercial launch. The company also agreed a deal making Ascensia its commercialisation and distribution partner, initially in Europe. The news matters for people with diabetes, as the device could offer an alternative to current glucose monitoring systems.
Funding
Ascensia led the round, with Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, Pentland Ventures and others also taking part. In July 2025, Sava announced a €16.6 million Series A round led by Balderton Capital and Pentland Ventures. Total funding now stands at $68 million.
Ascensia is based in Basel and belongs to PHC Group. It was established in 2016 when PHC Holdings Corporation acquired Bayer Diabetes Care. Its products are sold in more than 90 countries, with direct commercial organisations in 29 markets, and its portfolio includes the CONTOUR range of blood glucose monitoring systems.
Technology
Sava was founded in 2019 by Imperial College London bioengineers Renato Circi and Rafaël Michali. It emerged from stealth in June 2024, announcing more than €7.4 million in Seed funding. The company says its wearable, built on proprietary microsensor technology, measures molecules beneath the skin painlessly and continuously. The platform starts with glucose but is designed to track other biomarkers too. According to Sava, its microsensors are about ten times shorter than the filament in traditional continuous glucose monitors, while still reaching interstitial fluid.
Next steps
Sava plans a pivotal clinical study this year and is targeting CE approval for non-adjunctive use. That would mean insulin dosing decisions could be made without routine fingerstick confirmation. Subject to approval, Ascensia will lead the commercial launch, starting in Europe.
Ascensia CEO Peter Bodlund said microsensor technology has the potential to transform the day-to-day monitoring experience for people with diabetes.
