USA – Amulet, the company known for its innovative portable sensors that detect allergens, toxins, and contaminants, has announced the successful closing of US$5.8 million in Series A financing.
The round was led by HealthX Ventures, with contributions from Incite Ventures, AllerFund, Mendota Venture Capital, Great Oaks Venture Capital, and individual investors such as Julie Bornstein, a notable e-commerce pioneer and Pinterest executive, and Diede van Lamoen, a serial founder and investor.
Amulet, the creator behind the Allergy Amulet consumer brand and the Amulet Scientific commercial brand, aims to transform food safety for both individuals and businesses.
The Allergy Amulet, a wearable device, allows users to test for food allergens while on the move, addressing the needs of millions who manage food allergies and intolerances.
Meanwhile, Amulet Scientific offers a detection platform for restaurants, suppliers, and manufacturers to identify food toxins and environmental contaminants, providing a critical tool for the food industry.
Expansion plans and product launch
With the new funding, Amulet plans to expand its team, diversify its detection portfolio, and launch its products to a growing waitlist.
“Amulet’s technology has the potential to improve the safety of our food systems and, by extension, the health and well-being of millions,” said Abigail Barnes, founder and CEO of Amulet.
She emphasized the importance of deploying rapid detection methods to ensure a safer food supply chain and reduce adverse health outcomes for vulnerable populations, including those with food allergies, food intolerances, and celiac disease.
Since raising its seed financing in 2020, Amulet has garnered additional grant funding from the National Institutes of Health and the U.S. Department of Agriculture.
The company has also secured its second patent in electrochemical food sensors, enabling new in-field detection capabilities in food safety. Additionally, Amulet recently became a benefit corporation, aligning its mission to enhance global food safety with its commitment to serving all stakeholders.
Recent key hires have strengthened the Amulet team, including Michelle Wu as Head of Product and Barkley Jenny as Vice President of Product. Wu brings over 20 years of experience in the health and wellness, medical devices, and technology industries, while Jenny adds extensive expertise in supply chain logistics and operations.
Raising the bar for food safety transparency
Amulet’s technology has garnered attention for its potential to raise the bar for transparency in the food supply chain. For individuals, Allergy Amulet aims to improve the quality of life for the 33 million Americans managing food allergies and the estimated 40 million who are gluten-avoidant.
For businesses, Amulet Scientific offers a solution to mitigate the risks associated with allergen cross-contact and contaminants, which can result in costly recalls and reputational damage.
Investors, including HealthX Ventures and AllerFund, are optimistic about Amulet’s future.
“There’s no doubt that what Amulet is creating is a much-needed product for the hundreds of millions globally managing food allergies, celiac disease, food intolerances, and the countless businesses that strive to serve them,” said Mark Bakken of HealthX Ventures.
Similarly, Lisa Strovink of AllerFund highlighted the product’s potential to provide valuable information for people with food allergies and intolerances.
Amulet’s mission aligns with the broader goals of improving global health by addressing food safety challenges.
“By tackling food safety, one of the most fundamental pillars of health, Amulet has the power to make the world a better place — one allergen test at a time,” Swati Mylavarapu, Founder and Managing Partner of Incite Ventures, noted.
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.
