Sava Raises $36M Funding to Replace Fingerstick Testing With Painless Glucose Microsensor

Sava, the London-based medical device startup developing a painless alternative to fingerstick glucose testing, has raised $36 million in Series B funding led by Ascensia Diabetes Care, with participation from Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, and Pentland Ventures. The round brings Sava’s total funding to $68 million, following a $19 million Series A in July 2025 and an $8 million seed in June 2024.

The funding comes alongside a strategic commercial partnership with Ascensia Diabetes Care, which has been appointed Sava’s exclusive distribution partner in Europe for its microsensor technology. Ascensia, a subsidiary of PHC Holdings Corporation and a global leader in blood glucose monitoring with products sold in more than 90 countries, led the round and will distribute Sava’s CGM through retail channels and established reimbursement structures once approved .

Sava Funding Overview By CREDX Media

Startup Name	Sava
Founders	Renato Circi (Co-CEO), Rafaël Michali (Co-CEO)
Founded	2019
HQ	London, UK
Round	Series B Funding
Amount Raised	$36M
Valuation	Not disclosed
Category	Medical Devices, Continuous Glucose Monitoring, Biosensors
Lead Investor	Ascensia Diabetes Care
Key Investors	Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, Pentland Ventures
Total Funding Raised	$68M
Previous Rounds	$19M Series A (July 2025), $8M Seed (June 2024)
Key Product	Wearable glucose microsensor
Clinical Milestone	10-day continuous monitoring validated in 46-patient study
Target Launch	CE approval and launch within 18-24 months

💡 Use of Funds

• Manufacturing Scale-Up: Building high-volume production capacity for the microsensor platform.
• Commercial Readiness: Preparing for European launch through Ascensia’s distribution network.
• Pivotal Clinical Study: Conducting the pivotal trial required for CE approval and non-adjunctive use.

Startup Overview: Sava

What Sava Is Building in Simple Words

Sava has developed a wearable biosensor that monitors glucose continuously without the needle-based filament used by conventional continuous glucose monitors (CGMs). Traditional CGMs rely on a filament inserted 5-10mm into the skin using a hypodermic needle. Sava’s proprietary microsensor technology replaces that filament with miniaturised sensors approximately 10 times shorter, reducing skin tissue disruption while still accessing interstitial fluid .

• Painless Insertion: The microsensor is roughly 10 times shorter than conventional CGM filaments, minimising tissue disruption and discomfort.
• 10-Day Wear: An independent clinical study demonstrated reliable glucose measurement over a full 10-day wear period, with accuracy drifting by only ~1.5 percentage points.
• Comparable Performance: In a head-to-head study against a leading commercial CGM, Sava’s microsensor achieved a MARD difference of approximately 0.8 percentage points relative to a YSI reference.
• Multi-Molecule Platform: While glucose is the first application, Sava’s modular sensing platform is designed to detect additional biomarkers beyond glucose.
• Designed for Scale: The technology was built from the outset for high-volume manufacturing, targeting affordability and accessibility .

Why Sava Matters

1. Only 1% of People With Diabetes Use CGMs Approximately 589 million adults were living with diabetes globally in 2024, a figure projected to rise to 853 million by 2050. Yet just 1% of people with diabetes use CGMs, generating almost $12 billion in annual sales growing 10% year-on-year . Current CGMs are often painful, expensive, and inaccessible.
2. Fingerstick Testing Remains the Standard Despite advances in CGM technology, many patients still rely on fingerstick testing. For a CGM to replace routine blood glucose monitoring—what regulators call non-adjunctive use—it must demonstrate accuracy sufficient for insulin dosing decisions without fingerstick confirmation . Sava is targeting exactly this milestone.
3. Clinical Evidence Is Already Strong Sava completed an independent clinical study enrolling 46 participants with Type 1 and insulin-dependent Type 2 diabetes across sites in Oxford and Cambridge. The study demonstrated reliable glucose measurement over the 10-day wear period, with performance comparable to a leading CGM .
4. Strategic Partnership Validates Commercial Path Ascensia’s exclusive distribution agreement and equity investment signal confidence in Sava’s technology and regulatory pathway. Ascensia has decades of experience in diabetes care and established relationships with clinicians, payers, and retail channels across Europe .

Startup Story: From Imperial College Labs to a Diabetes Care Partnership

Sava was founded in 2019 by Renato Circi and Rafaël Michali, bioengineers who met at Imperial College London. The company spent five years in stealth before emerging in June 2024 with an $8 million seed round led by Balderton Capital and Exor Ventures .

The founding insight was that continuous glucose monitoring was held back by the same legacy technology for decades. As Circi framed it: “For decades, continuous monitoring has been held back by the same legacy technology. This is about to change” .

By early 2026, Sava reported a world-first: 10-day clinical evidence for continuous glucose monitoring via its proprietary microsensor technology. The study, independently conducted across Oxford and Cambridge, validated the clinical foundation for Sava’s platform and demonstrated performance comparable to filament-based CGMs .

In October 2026, Sava announced its Series B funding and strategic partnership with Ascensia. The partnership gives Sava a route to market at scale: Ascensia’s distribution network reaches more than 90 countries, with direct commercial organisations in 29 markets .

Peter Bodlund, CEO of Ascensia, captured the opportunity: “Microsensors have 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 opportunity to address important unmet needs in diabetes care” .

Our Take on Sava

Sava is solving the least glamorous problem in diabetes care—the needle—and that’s precisely why it matters.

Continuous glucose monitors have transformed diabetes management, but their adoption remains limited to a tiny fraction of the people who could benefit. The barrier isn’t technology—it’s invasiveness, cost, and access. Sava’s insight is that a microsensor 10 times shorter than conventional filaments can deliver comparable performance without the pain and tissue disruption that deter patients .

The $36 million Series B is justified on multiple fronts: clinical validation (10-day wear, comparable accuracy), strategic partnership (Ascensia’s distribution reach and regulatory expertise), and a clear path to non-adjunctive use—the milestone that would allow Sava’s device to replace fingerstick testing entirely .

The real risk isn’t technical feasibility—Sava has demonstrated clinical performance. The risk is regulatory and reimbursement. Non-adjunctive approval requires rigorous evidence that the device is accurate enough for insulin dosing decisions. Ascensia’s involvement significantly de-risks the commercial path by providing established reimbursement relationships and retail distribution .

For now, Sava has capital, clinical evidence, and a partner with deep diabetes care expertise. The next 18-24 months will determine whether it can secure CE approval and launch in Europe.

Founder Background: The Imperial College Bioengineers Building a New Sensing Platform

Renato Circi (Co-CEO) and Rafaël Michali (Co-CEO) founded Sava in 2019 after meeting at Imperial College London, where they studied bioengineering. Their vision extends beyond glucose: “Proving glucose was the first step. With that foundation in place, we can now expand into new analytes, unlocking entirely new applications built on the same technological foundation” .

The founding team has grown to include creators of the Abbott, Dexcom, and Medtronic CGMs—bringing deep expertise from the companies that defined the current CGM market .

The CGM Technology Race Nobody Expected

Sava operates in a glucose monitoring market dominated by established players including Abbott (FreeStyle Libre), Dexcom, and Medtronic. These companies have built multi-billion-dollar franchises on filament-based CGM technology.

Sava’s differentiation lies in its microsensor platform—a fundamentally different approach to sensing that reduces invasiveness while maintaining accuracy. If the technology delivers on its clinical promise and regulatory pathway, it could expand the CGM market by making monitoring accessible to patients who currently avoid or cannot afford existing devices .

The competitive moat is manufacturability. Sava designed its microsensor from the outset for high-volume production, which is critical for reaching the scale required to serve a market where only 1% of potential users currently have access .

Founder Intelligence: What Founders Can Learn from Sava

• Solve the pain problem, not just the accuracy problem: CGMs already work. The barrier to adoption is invasiveness and cost. Sava focused on the patient experience, not marginal improvements in accuracy.
• Build for scale from day one: Sava designed its microsensor for high-volume manufacturing before commercial launch. In medical devices, manufacturability is as important as clinical performance.
• Partner with incumbents, not against them: Ascensia isn’t a competitor—it’s a distribution partner with decades of diabetes care relationships. Strategic partnerships can accelerate commercialisation faster than building sales infrastructure from scratch.
• Clinical evidence is the only currency that matters: Sava’s 10-day clinical study validated its platform and attracted both investors and a commercial partner. In medtech, data precedes deals.

Investor Intelligence: Why This Round Gets Premium Capital

Ascensia Diabetes Care led the round and made a strategic equity investment. Ascensia is a subsidiary of PHC Holdings Corporation (TYO 6523), a global diabetes care company with products sold in more than 90 countries and direct commercial organisations in 29 markets .

Balderton Capital returned after leading the seed and Series A, continuing its conviction in Sava’s platform. Norrsken VC, JamJar Investments, and Pentland Ventures also participated .

The investor composition signals conviction across multiple dimensions: strategic distribution (Ascensia), early-stage conviction (Balderton), and healthtech expertise (Norrsken, Simplyhealth).

The Road Ahead for Sava

Expansion Targets

With $36 million in capital, Sava will:

• Scale manufacturing for high-volume production
• Conduct a pivotal clinical study in preparation for CE approval
• Target CE approval and launch within 18-24 months for non-adjunctive use
• Launch in Europe through Ascensia’s distribution network

Competitive Response

Expect:

• Abbott, Dexcom, and Medtronic to monitor Sava’s regulatory progress closely
• Traditional CGM makers to explore microsensor acquisitions or partnerships
• New startups targeting specific biomarkers beyond glucose
• Sava’s moat: proven 10-day wear + high-volume manufacturability + Ascensia distribution

Conclusion

Sava’s $36 million Series B funding validates the thesis that continuous glucose monitoring can be painless, affordable, and scalable. The company’s microsensor technology—validated in a 46-patient clinical study—delivers comparable performance to filament-based CGMs without the invasiveness .

Market tailwinds favor Sava: 589 million people with diabetes globally, only 1% CGM adoption, and a $12 billion market growing 10% annually . The Ascensia partnership provides a distribution route to Europe’s established reimbursement channels, positioning Sava to capture a meaningful share of the glucose monitoring market.

For deep analysis of medical device funding, diabetes technology innovation, and companies reshaping chronic disease management, explore CREDX Media for comprehensive coverage of startup funding trends, valuation intelligence, and founder playbooks.

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Frequently Asked Questions

1. What is Sava’s total funding and latest round size?
Sava has raised $68 million total. Its $36 million Series B was led by Ascensia in October 2026, following a $19 million Series A in July 2025 and an $8 million seed in June 2024 .

2. How much did Sava raise in its Series B round and who led the investment?
Sava raised $36 million in Series B funding led by Ascensia Diabetes Care, with participation from Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, and Pentland Ventures .

3. What is the valuation of Sava?
Sava did not disclose its post-money valuation in the Series B round. The company has raised $68 million in total disclosed funding .

4. Who are the major investors in Sava?
Major investors include Ascensia Diabetes Care (Series B lead), Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, Pentland Ventures, and Exor Ventures .

5. What clinical evidence supports Sava’s technology?
Sava completed an independent clinical study enrolling 46 participants with Type 1 and insulin-dependent Type 2 diabetes. The study demonstrated reliable glucose measurement over a 10-day wear period, with performance comparable to a leading CGM and a MARD difference of approximately 0.8 percentage points relative to a YSI reference .

6. Who are Sava’s founders?
Sava was founded in 2019 by Renato Circi and Rafaël Michali, bioengineers who met at Imperial College London. Both serve as Co-CEOs .

7. What is Sava’s business model?
Sava is developing a wearable glucose microsensor for diabetes management. Ascensia will distribute the product in Europe through retail channels and established reimbursement structures once approved .

8. How does Sava’s microsensor technology work?
Sava’s microsensor is approximately 10 times shorter than conventional CGM filaments, reducing skin tissue disruption while accessing interstitial fluid. It measures glucose continuously over a 10-day wear period without the needle-based insertion required by traditional CGMs .

9. What are Sava’s plans for the $36 million Series B capital?
Sava will use the funding to scale manufacturing, conduct a pivotal clinical study, and prepare for CE approval and European launch within 18-24 months.

10. What is non-adjunctive use and why does it matter?
Non-adjunctive use means a CGM can be used to make insulin dosing decisions without routine fingerstick confirmation. Achieving this regulatory designation would allow Sava’s device to replace, rather than supplement, blood glucose testing .

11. Who is the CEO of Sava?
Renato Circi and Rafaël Michali serve as Co-CEOs and co-founders of Sava Technologies.