Sava- a UK based startup is transforming the health monitoring system with its real time, affordable and painless microsensor. The company has so far raised a capital of €7.4 million in seed funding round led by Balderton Capital and Exor Ventures, with participation from Exceptional Ventures and existing investors, Sweet Capital and SOSV.
The startup is the brain child of Renato Circi and Rafael Michali, bioengineers from Imperial College London, SAVA has developed a novel, ground-breaking micro sensing device to detect molecules in the interstitial fluid, just under the skin. Its smart, connected wearable patch has been designed to streamline this data and deliver it directly to a user’s phone.
First microsensor which is developed by Sava focuses on monitoring glucose which is projected to impact 1 in 8 adults globally, approximately 783 million people by 2045. People with diabetes rely on accurate glucose monitoring technologies to adequately manage their condition.
The UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) has recently approved the startup’s request to go ahead with clinical trials on patients with diabetes which will help Sava to use its technology on a larger scale.
Glucose monitoring is the just start of something new in the field of health monitoring. With its modular design, the microsensor will be able to monitor multiple molecules. Multi-analyte sensing unlocks the ability to monitor a vast range of conditions – from chronic conditions, to next-gen wellbeing applications, drug adherence to personalized therapy and more.
The growth of the team has been phenomenal and the team constitutes more than 40 members including the creators of Abbot, Dexcom and Medtronic CGMs. The total funding received by the startup brings the total to $13 million from leading VC firms, angel investors, the European Union and the UK Government (through innovate UK).
The funding will be used by the startup to further expand Sava’s team design its next-generation product line with high-throughput manufacturing capability, and demonstrate the platform’s clinical performance.
