TLDR:
- UK medical device startup SAVA secures €7.4M funding in Seed round led by Balderton Capital and Exor Ventures.
- SAVA, founded by bioengineers from Imperial College London, is developing a wearable biosensor platform focused on glucose monitoring for people with diabetes.
London-based startup Sava has announced securing $8M (approximately €7.4M) in a Seed funding round led by Balderton Capital and Exor Ventures. The total funding raised by the company now stands at $13M. SAVA, founded by Renato Circi and Rafael Michali, is developing a wearable biosensor platform to detect molecules in the interstitial fluid under the skin. The company aims to provide real-time health insights through a connected wearable patch that streams data to a user’s phone.
With a specific focus on glucose monitoring for people with diabetes, SAVA’s microsensor aims to revolutionize healthcare by making monitoring technology more accessible and affordable. The company has received approval from the UK’s Medicines and Healthcare Products Regulatory Agency to conduct clinical trials on patients with diabetes, aligning with the global trend of incorporating Continuous Glucose Monitors (CGMs) into standard diabetes care. The UK’s NHS plans to provide CGMs to all individuals with Type I diabetes by 2025.
Balderton Capital, a leading venture firm with a diverse portfolio, sees SAVA’s biosensor as a potential game-changer in personal health monitoring. Similarly, Exor Ventures, known for its investments in early-stage companies, believes in SAVA’s novel technology as a foundation for a new healthcare system. The funding will support SAVA in expanding its team, designing next-generation products, and validating its technology through clinical trials.
