Amulet, a company shedding light on invisible threats in our food system, announced $5.8 million in Series A funding led by HealthX Ventures, with participation from Incite Ventures, AllerFund, Mendota Venture Capital, Great Oaks Venture Capital, and individuals including e-commerce executive Julie Bornstein and serial founder/investor Diede van Lamoen.
Amulet equips individuals and businesses with wearable sensors that feature rapid, field-deployable molecular detection technology that helps protect food from allergens, toxins and contaminants.
This new round of funding will allow Amulet to grow its team, expand its detection portfolio, and conduct a full product launch to serve Amulet’s large and growing waitlist. Amulet is the company behind Allergy Amulet, a consumer brand with a unique wearable device that allows people to test for food allergens on the go, and Amulet Scientific, a commercial brand with a detection platform that helps restaurants, suppliers, manufacturers, and other food industry companies identify a range of molecular targets, including food toxins and environmental contaminants.
Since raising seed funding in 2020, Amulet has continued to establish itself as an emerging innovator in the food safety industry. For example, Amulet has received grants from the National Institutes of Health and the U.S. Department of Agriculture. Over the past few months, Amulet has built an experienced product team to lead successful commercialization. Recent hires include:
1.) Michelle Wu, Product Lead: Michelle has over 20 years of experience in health and wellness, medical devices and technology and has led more than 50 teams through various phases of human-centered development of medical devices, technologies and in vitro diagnostics.
2.) Barkley Jenny, VP of Product: Barkley has launched over 100 products for purpose-driven brands and brings extensive experience in supply chain logistics and operations to Amulet’s product team, having previously worked with companies such as Danone and HealthyBaby Supply Chains.
Amulet also recently became a Benefit Corporation, underscoring its commitment to serving all of the company’s stakeholders and aligning its work with its mission to improve global food security.
Even in the smallest amounts, food allergies can be fatal, causing someone to run to the emergency room every three minutes for exposure to food allergens. And Amulet’s technology has the potential to raise the bar for transparency in our food supply chain:
1.) For individuals: In the United States, approximately 33 million people have food allergies, and an estimated 40 million people avoid gluten. And Allergy Amulet’s wearable design improves the quality of life for people with food allergies and intolerances, as well as those who care for them.
2.) For businesses: Cross-contact with allergens in food service establishments is responsible for nearly half of all fatal food allergies. Contaminants that trigger food recalls cost businesses millions of dollars in direct costs and incalculable reputational damage. Amulet Scientific enables businesses and restaurants to better control both risks.
3.) For Global Health: Allergy Amulet and Amulet Scientific are helping to combat the root causes of consumer and business food poisoning, which causes 128,000 hospitalizations and 3,000 deaths annually; undetected contaminants that cause widespread illness and thousands of deaths worldwide; and exposure to food allergens, which causes 30,000 emergency room visits annually.
KEY QUOTES:
“Amulet’s technology has the potential to improve the safety of our food systems and, in turn, the health and wellbeing of millions of people. From gluten to glyphosate in our food and soil, this funding will enable us to provide rapid evidence to both consumers and businesses to ensure a safer food supply chain and reduce negative health outcomes for people with food allergies, food intolerances and celiac disease.”
– Abigail Barnes, Founder and CEO of Amulet
“We are committed to supporting digital innovations that make healthcare easier and more affordable. There is no doubt that Amulet’s product is a much-needed product for the hundreds of millions of people worldwide who struggle with food allergies, celiac disease and food intolerances, as well as the countless companies striving to help them. We look forward to supporting Amulet in this next phase of growth as they bring their innovation to market.”
– Mark Bakken of HealthX Ventures
“We are excited to see how Amulet’s flexible technology can help address a growing problem for individuals and businesses and improve food safety in a variety of settings. This product will provide valuable information to the tens of millions of people who live with food allergies and intolerances.”
– Lisa Strovink of AllerFund, the first venture capital firm focused on the food allergy community
“Amulet’s food-related mission spans so many areas of global health that its potential for far-reaching impact is an exciting vision to support. By addressing 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
