Breakthrough clinical biosensor results lead to Sava securing $19M in Series A funding
Sava Technologies, a London-based startup founded by bioengineers Renato Circi and Rafaël Michali from Imperial College London in 2019, has raised $19 million in Series A funding, bringing its total funding to $32 million. This latest round of funding positions Sava to lead the next wave of innovation in the global health wearables market, expected to surpass $100 billion by 2029.
The funding, led by Balderton Capital and Pentland Ventures, with strong participation from Norrsken VC and JamJar Investments, will support the growth of Sava's world-class team, scale up automated manufacturing to meet target launch volumes, and accelerate clinical validation of its microsensor technology.
Sava's technology has shown breakthrough clinical trial results, positioning it to create a new market for real-time, multi-biomarker sensing. The latest clinical trial, involving 50 patients with Type 1 and insulin-dependent Type 2 diabetes, showed that Sava's technology delivered accurate and reliable glucose readings for up to 10 days of continuous use.
The biosensor aims to match or surpass the performance of current continuous glucose monitors (CGMs) but without invasive filaments or high costs, supporting better management of diabetes and potentially other chronic conditions by monitoring multiple biomarkers simultaneously.
Sava's modular, multi-analyte sensing platform is designed to detect a range of additional molecules, allowing users to seamlessly track multiple biomarkers in real time. This comprehensive, non-invasive, and continuous molecular health monitoring approach promises to facilitate precision medicine and real-time, data-driven healthcare decisions, moving the field toward more integrated and personalised health management systems.
Applications of Sava's technology extend to athletic and fitness performance by tracking various health-related molecules in real time, providing detailed insights into metabolic and physiological states. The biosensor's modular design allows for the detection of new molecules, enabling various use cases and forming a technological foundation for personalised healthcare, where users can monitor health at the molecular level continuously and conveniently.
Charlie Rubin, Investor at Pentland Ventures, stated that Sava is positioned to lead the next wave of innovation in the $100B+ global health wearables market. James Wise, Partner at Balderton, stated that understanding what's going on in our bodies is the first step to improving our health.
Renato Circi, co-founder and co-CEO of Sava, stated that the company has built a modular platform, capable of multi-molecule sensing, creating new use cases. The mission of Sava remains to build the technological foundation for preventative and personalised healthcare.
Sava's innovation is well-positioned to enter the booming global wearables market, expected to surpass $100 billion by 2029. The company aims to significantly expand access to continuous glucose monitoring and reshape the future of diabetes management by offering a pain-free, affordable, and highly scalable alternative.
References: [1] Sava Technologies. (n.d.). Retrieved from https://savatech.io/ [2] Sava Technologies raises $19m in Series A funding to transform diabetes management. (2021, November 10). Retrieved from https://techcrunch.com/2021/11/10/sava-technologies-raises-19m-in-series-a-funding-to-transform-diabetes-management/ [3] Sava Technologies. (2021, November 10). Retrieved from https://www.prnewswire.com/news-releases/sava-technologies-raises-19m-in-series-a-funding-to-transform-diabetes-management-301420181.html
- Sava Technologies, a London-based startup that specializes in science and technology, has raised $19 million in Series A funding, positioning them to lead the upcoming wave of innovation in the health-and-wellness sector, specifically the fitness-and-exercise and health wearables market.
- The investment, led by Balderton Capital and Pentland Ventures, with strong participation from Norrsken VC and JamJar Investments, will be utilized to expand Sava's team, scale up manufacturing, and accelerate the clinical validation of their microsensor technology, with plans to surpass the $100 billion health wearables market by 2029.
- Sava's technology, which has shown breakthrough results in clinical trials, aims to create a new market for real-time, multi-biomarker sensing, primarily focused on diabetes management, but with potential applications in finance and venture capital for personalized healthcare and investing opportunities.
- The company's innovative biosensor, designed to be modular and capable of detecting a range of molecules, is expected to revolutionize the field of fitness-and-exercise by providing detailed insights into athletic performance, while also supporting better management of chronic conditions, such as diabetes, through continuous, non-invasive molecular health monitoring.
