Allergy Amulet Closes $4.1 Million Series Seed with Investments from AllerFund and Lightship Capital
The world's smallest and fastest consumer food allergen sensor receives additional funding after increased demand from the food allergy community
MADISON, Wis., Mar. 29, 2021 /PRNewswire-PRWeb/ -- Allergy Amulet, the company building a better future for the food allergy community by alleviating fears about what's in their food, today announces additional Seed funding, bringing its total amount raised in the round to $4.1 million. The Seed extension includes investments from AllerFund, the first venture capital firm dedicated to driving social impact for those managing food allergies, and Lightship Capital, the largest-ever VC fund raised by a Black female in the U.S. that invests in people of color, women, members of the LGBTQIAP community, immigrants, and people with disabilities. Allergy Amulet has developed the world's smallest and fastest consumer food allergen sensor, capable of testing foods for common allergenic ingredients in seconds. Its sleek and portable design makes its proprietary sensor technology easy for anyone to use.
Just last year, Allergy Amulet raised its initial Seed round led by a joint venture between Microsoft and the Green Bay Packers. The additional capital will allow Allergy Amulet to accelerate manufacturing, expand product offerings to cover more allergens, grow the company's world-class team, and educate consumers about the benefits of additional food allergen management tools.
"Food allergy and food-related diseases have become an epidemic. It is increasingly important that we support entrepreneurs and businesses building promising technologies to meet the needs of those living with food allergies," said Lisa Strovink, Managing Partner of AllerFund. "The combination of Allergy Amulet's ease of use and accuracy holds great potential for community impact. We believe its technology will improve the quality of life for so many people with food allergies around the world."
Food allergies affect 32 million Americans and between 220 to 520 million people globally—that's one in 13 children and one in 10 adults. Moreover, one in four Americans—85 million people—avoid buying food products that contain the top nine allergens: peanuts, tree nuts, fish, shellfish, wheat, eggs, milk, soy, and sesame.
Allergy Amulet is striving to improve on the current standard of care for food allergy management, which today is limited to strictly avoiding allergenic food, injecting epinephrine to treat reactions if the food is inadvertently ingested, and often a trip to the emergency room. This all can take a serious emotional, financial, and physical toll on individuals, caregivers, and families. Allergy Amulet is hoping to alleviate that burden.
Allergy Amulet helps:
- Individuals with food allergies: It makes testing for food allergens easy, giving people additional assurances that their food is safe.
- Parents with children who have food allergies: It gives parents another tool to manage their children's allergies, and helps children maintain independence and safely attend sleepovers and birthday parties (or just school!) with friends.
- Businesses: It gives restaurant owners, schools, childcare providers, summer camps, and hotels the power of extra precaution to save them time, money, and worry.
"Over the last year, it's become increasingly clear that we need to get Allergy Amulet into the hands of as many people as possible, as quickly as possible," said Abigail Barnes, Co-Founder and CEO of Allergy Amulet. "Parents, caretakers, and people suffering from food allergies have told us time and again that they need an additional tool in their toolbox to help them and their loved ones engage in everyday activities that bring them joy. We're ready to make the future better and ensure that every person with a food allergy can safely savor life's important moments."
How It Works
Allergy Amulet is a first-of-its-kind detection platform that pairs molecularly imprinted polymer (MIP) technology with an electrochemical system to detect target allergenic ingredients. The Amulet consists of two parts: a thumb-sized reader (the "Amulet") and a sampler.
- Step 1: Users collect a portion of their food with the sampler, then turn the sampler to grind the food.
- Step 2: The sampler is inserted into the Amulet.
- Step 3: Test results appear on the Amulet reader.
- Step 4: Optional: Store test results in the mobile app, connect and share results with the food allergy community, and use the Amulet as a medical alert system to notify emergency contacts.
"What the team at Allergy Amulet is doing is nothing short of amazingly innovative and important," said Candice Matthews, General Partner at Lightship Capital. "This product has the ability to change the lives of the hundreds of millions of people globally who manage food allergies, and we are thrilled to help bring it to market."
Allergy Amulet is slated for launch in late 2021.
About Allergy Amulet
Allergy Amulet helps take the worry off your plate. As the world's smallest and fastest consumer food allergen sensor, Allergy Amulet tests for common allergenic ingredients in seconds. Whether it's on a keychain, a necklace, a wristband, in a backpack, or in a pocket, Allergy Amulet's sleek and portable design allows users to savor life's important moments, safely and simply. Learn more at http://www.allergyamulet.com.
About AllerFund
AllerFund is the first venture capital firm dedicated to driving social impact for the food allergy community. The fund's mission is to accelerate the development and commercialization of new treatments, diagnostics, and products for children and adults with, or at risk of developing, food allergies. AllerFund invests in early-stage companies and technologies across biopharma, medical devices, diagnostics, and consumer sectors that will lead to cures and improve lives of those with food allergies.
About Lightship Capital
Lightship Capital is a venture capital fund enabling underrepresented entrepreneurs and overlooked ecosystems across the U.S. with access to meaningful guidance and capital. By connecting BIPOC founders to corporate networks and established entrepreneur education programs, their inclusion-focused work empowers underserved founders and regions while modeling the change necessary for equality in investment culture.
Media Contact
Tess Pawlisch, The Key, 6083339788, [email protected]
SOURCE Allergy Amulet
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