In an exciting announcement that could reshape the wearable biosensor landscape, London-based Sava Technologies has raised €16.6M in a Series A funding round to accelerate the commercialization of its innovative multi-analyte microsensor platform. While continuous glucose monitoring (CGM) remains the immediate focus, co-founder Renato Circi says, “Glucose is only the beginning.” With lessons from the startup’s journey, actionable insights, and a guide to leveraging similar growth strategies, this article is packed with knowledge for entrepreneurs.
1. The Background: What is Sava Technologies?
Founded in 2019 by two Imperial College graduates, Renato Circi and Rafaël Michali, Sava Technologies aims to revolutionize molecular health monitoring using wearable microsensor technology. Their modular platform, capable of tracking biomarkers like glucose directly through the skin, promises to solve three key issues plaguing CGMs today: pain, cost, and inaccessibility. With an emphasis on scalability and affordability, they are positioning themselves as a game-changer in the €9.6B annual CGM market.
2. Funding Milestone: €16.6M Series A
Sava secured €16.6M from a mix of investors, including Balderton Capital, Pentland Ventures, and Norrsken VC. These funds will be used to:
- Validate the modular technology.
- Pursue FDA and CE approval.
- Expand manufacturing capabilities.
- Train the team and refine commercial strategies.
This funding milestone is especially significant since Sava managed to attract not just MedTech-focused backers but also venture firms interested in democratizing health innovation.
3. Technology Insights: Beyond Glucose
At the core of Sava’s breakthrough is its multi-analyte sensing platform, which promises real-time health insights far beyond glucose. This technology positions the company to tap into emerging health trends like fitness tracking, personalized medicine, and preventative care. Early clinical trials in Oxford and Cambridge yielded promising results, with continuous readings accurate for up to 10 days, a record for wearables in its class.
4. Critical Lessons from Sava Technologies
Lesson 1: Prioritize Market Gaps
Sava leveraged the unmet needs in CGM adoption, pain during use and inflated costs, to design a pain-free and affordable alternative. Entrepreneurs should survey major pain points within their target industry to carve out their niche.
Lesson 2: Modular Tech for Growth
The company adapted its biosensor platform to be modular, future-proofing it for multi-molecule applications. Similarly, startups can build scalable concepts that grow with market needs.
5. How Entrepreneurs Can Raise Funds Like Sava
Step 1: Identify Differentiators
Just as Sava innovated to address inefficiencies in the MedTech field, focus your business model on solving an unsolved pain point.
Step 2: Join an Incubator or Accelerator
Platforms like Fe/male Switch help startups validate their ideas, form strategies, and even secure funding. Fe/male Switch founder Violetta Bonenkamp emphasizes that creating a solid foundation ensures higher investor interest.
Step 3: Use Grant-Writing AI Tools
AI Grant Finder and Application Writer can quickly locate EU grants tailored to startups like yours. This tool even drafts application templates, saving time and increasing success rates.
6. Introducing PlayPal: Your AI Co-Founder
Fe/male Switch's PlayPal acts as your virtual co-founder, guiding you through the pitch process and providing support on strategic decisions. Designed by Violetta Bonenkamp, PlayPal is perfect for entrepreneurs navigating funding hurdles, asking questions about scaling, and brainstorming innovative ideas. As seen in Sava’s journey, a strong support system, whether human or AI, can make all the difference.
7. Big Wins: Mistakes Startups Should Avoid
Mistake 1: Skipping Validation
Before progressing to regulatory approvals like Sava, ensure your idea has been rigorously tested, preferably using platforms like Fe/male Switch’s SANDBOX.
Mistake 2: Neglecting Feedback
Sava relied heavily on clinical trials and third-party evaluators, don’t overlook the power of constructive feedback to refine your business model and product.
Mistake 3: Missing the Modular Mindset
Sava's modular design ensures scalability. As an entrepreneur, incorporate scalability into your strategies for a smoother pivot into future markets.
In Summary: The Lessons Entrepreneurs Should Carry Forward
Sava Technologies’ journey to €16.6M funding is more than just a success story; it's rich with insights for entrepreneurs looking to enter MedTech or any high-growth industry. From addressing pain points and leveraging modular technology to aligning with the right investors, Sava’s path offers a roadmap to success. Aspiring startup founders who want to raise funds and validate their ideas should explore platforms like Fe/male Switch or tools like EU Grant Finder and Application Writer for strategic guidance.
Explore PlayPal
Curious about having a virtual AI friend for your entrepreneurial journey? Check out PlayPal and see how it can transform your path to innovation in the startup world.
Excited about launching your startup in 2025? Start with the F/MS Startup Game and go from idea to launch, all while learning, adapting, and dominating. Learn more about Fe/male Switch.
FAQ
1. What does Sava Technologies specialize in?
Sava Technologies specializes in real-time molecular health monitoring using wearable biosensors equipped with multi-analyte sensing capabilities. Their platform aims to provide painless, affordable, and accessible solutions for monitoring biomarkers like glucose. Visit Sava Technologies
2. How much funding has Sava Technologies raised?
Sava Technologies raised €16.6 million in their Series A funding round, bringing their total funding to approximately €27.9 million. Read the EU-Startups article on Sava Technologies
3. Who were the major investors in the Series A round?
Key investors in Sava's Series A funding include Balderton Capital, Pentland Ventures, Norrsken VC, and JamJar Investments. Explore Balderton Capital | Learn about Pentland Ventures
4. What problems in the CGM market is Sava trying to solve?
Sava focuses on eliminating pain, high costs, and accessibility barriers in Continuous Glucose Monitoring (CGM). They aim to democratize CGMs with their pain-free, low-cost alternative. Understand CGM barriers
5. What is unique about Sava’s technology?
Sava’s modular biosensor platform is designed for multi-molecule sensing, offering greater versatility and scalability. It provides accurate readings for up to 10 days, which is unprecedented in its category. Learn about Sava’s platform
6. What has clinical research revealed about Sava’s biosensors?
Clinical trials conducted across Oxford and Cambridge demonstrated accurate 10-day glucose readings, surpassing industry benchmarks where similar devices typically fail after 1-5 days. Read about clinical results
7. What future applications does Sava envision?
While glucose monitoring is the immediate focus, Sava’s modular platform aims to expand into tracking multiple biomarkers, enabling preventive care and personalized health insights. See Sava’s vision
8. How will Sava use the Series A funding?
The funding will support team scaling, automated manufacturing, regulatory approvals, and expanded clinical validation for commercialization of its biosensor technology. Discover Sava’s roadmap
9. How does Sava plan to differentiate from competitors?
Sava’s pain-free, modular, and scalable biosensor platform positions them to address multiple biomarkers, making their wearables attractive for athletes, fitness enthusiasts, and people seeking preventative care. Explore Sava’s market approach
10. What are the global market trends supporting Sava’s growth?
The CGM market is growing at a 10% CAGR, and the global wearable health market is projected to surpass $100 billion, reflecting rising interest in personalized and real-time health solutions. Understand global trends in wearables
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond and launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch. The Fe/male Switch team is located in several countries, including the Netherlands and Malta.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 3,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
