Amulet – which equips individuals and businesses with portable sensors containing rapid, on-site molecular detection technology that helps keep food safe from allergens, toxins, and contaminants – has announced it has raised $5.8 million in its Series A financing round.
With this new round of funding, Amulet has said it intended to scale its team, expand its detection portfolio, and execute a full product launch.
Amulet is the company behind Allergy Amulet – a wearable that enables people to test for food allergens on the go – and Amulet Scientific, which is a detection platform that enables restaurants, suppliers, manufacturers, and other food industry businesses to identify a range of molecular targets like food toxins and environmental contaminants.
Amulet’s Series A round was led by HealthX Ventures, with participation from Incite Ventures, AllerFund, Mendota Venture Capital, Great Oaks Venture Capital, and individuals like e-commerce pioneer, Pinterest executive, and Daydream founder Julie Bornstein, as well as serial founder and investor Diede van Lamoen.
Founder and CEO of Amulet, Abigail Barnes, stated: “Amulet’s technology has the potential to improve the safety of our food systems and, by extension, the health and well-being of millions.
“From gluten to glyphosate in our food and soil, this funding will allow us to deploy rapid detection for both consumers and businesses to help ensure a safer food supply chain and reduce adverse health outcomes for the food allergy, food intolerant, and celiac populations.”
Since raising its seed financing in 2020, Amulet has received grant funding from the National Institutes of Health and the U.S. Department of Agriculture, has built a product team to lead its commercialisation, secured its second patent, and became a benefit corporation.
Mark Bakken of HealthX Ventures commented: “We strive to support digital innovations that make healthcare easier and more affordable. 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.
“We look forward to supporting Amulet through this next stage of growth as they bring their innovation to market.”
“We are excited to see how Amulet’s flexible technology helps manage a growing problem for individuals and businesses to enhance food safety in a multitude of settings,” said Lisa Strovink of AllerFund, the first venture capital firm with a focus on the food allergy community.
“This product will provide valuable information for the tens of millions of people navigating life with food allergies and intolerances.”
“Amulet’s food-focused mission straddles so many lanes of global health, making its potential for widescale impact an exciting vision to support,” said Swati Mylavarapu, Founder and Managing Partner of Incite Ventures.
“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.”
