Sava Technologies Raises $36M to Scale Microneedle CGM Platform
London-based Sava Technologies closed a €32.08 million ($36 million) Series B round led by Ascensia Diabetes Care. The company has now raised €60.6 million ($68 million) cumulatively to advance its intradermal microneedle sensor platform for continuous glucose monitoring. Sava aims to challenge existing subcutaneous filament CGM systems by scaling automated manufacturing and securing European distribution.
Sava Technologies is a London company founded by Renato Circi and Rafaël Michali, bioengineers from Imperial College London. It left five years of stealth work in June 2024. Its earlier Seed round, disclosed that month, raised €7.4 million ($8.0 million), with Balderton Capital and Exor Ventures leading and SOSV participating.
A July 2025 Series A added €16.6 million ($19.0 million), led by Balderton Capital and Pentland Ventures, with Norrsken VC, JamJar Investments, True Global and Exceptional Ventures joining. The Series B syndicate also includes Balderton, Norrsken, Simplyhealth Ventures, JamJar and Pentland. Ascensia, part of PHC Holdings, brings distribution reach across many markets.
The funding may accelerate a less invasive CGM option for people managing diabetes, potentially reducing some discomfort linked to deeper filament sensors. If European distribution expands, clinicians and patients could gain another monitoring choice, while established device makers may face fresh competition. Manufacturing scale-up could influence device costs and availability, though clinical performance, regulatory clearance and real-world adoption will determine whether these benefits materialize. Investors and health systems may also weigh whether microneedle platforms improve long-term glucose management and preventive care.