Food–allergy and metabolism–takes center stage with Series A fundings for Amulet and Levels

Food, as nutrition and more nebulously, ‘food as medicine’, has become a popular part of the disease treatment value proposition in funding. Two examples gained Series A funding in just the past few days.

Amulet announced a $5.8 million Series A round led by HealthX Ventures, with participation from Incite Ventures, AllerFund, Mendota Venture Capital, Great Oaks Venture Capital, plus Julie Bornstein (Pinterest/Daydream) and serial founder and investor Diede van Lamoen. Total funding including grants from Imperial College London and Dartmouth and seed rounds is now $10.7 million. The fresh funding will enable the company to scale its team, expand its detection portfolio, and execute a full product launch.

Amulet’s two products are a pocket-sized consumer wearable, Allergy Amulet (left), that can test food for allergens right at the table in about one minute. A professional testing system, Amulet Scientific, is for use by the food industry–restaurants, suppliers, manufacturers, and related–to test for food toxins and environmental contaminants. The proprietary molecular detection technology recognizes and binds target molecules, then measures binding via electrical current, and reads both on the wearable device and on its app. Amulet’s devices and software are pre-launch, although it has secured two patents and received grant funding from the National Institutes of Health (NIH) and the US Department of Agriculture. For those with multiple food sensitivities ranging from mild (magnesium stearate, casein, lactose) to significant (gluten, peanut, sulfites, shellfish), having a tester beats asking the waiter and crossing your fingers.   Release

Levels takes the metabolic road to nutrition centering primarily on continuous glucose monitoring (CGM). The Series A extension of $10 million was unusually raised two ways: $7 million from venture capital companies Long Journey, a16z, and others, while $3 million was raised from 2,000 crowdfunders. The original Series A raised $5 million from crowdfunding (1,400 individuals). Funding to date is $57 million.  Levels seeks to improve metabolic health from feedback tracking metrics such as real-time blood sugar, blood testing, nutritional intake, and sleep and exercise data. Their featured CGM is Dexcom’s G7. Synched with the CGM, the Levels app monitors blood sugar and lifestyle factors to calculate scores and provide personalized choices plus feedback. Membership to date is over 60,000. Fitt Insider (release) 

Something for (almost) everyone – a digital health gallymaufry

The Association of British Healthcare Industries (ABHI) is looking for companies to share the British Pavilion at the CMEF trade show from 15th – 18th May 2015 in Shanghai, China. It is apparently the the leading Healthcare trade show in China and is now the largest Medical Equipment exhibition in the Asia Pacific region attracting over 60,000 visitors. Details here.

Still need to see some more predictions for 2015? – try these 12 for telecoms, which does include the odd interesting nod towards subjects we cover, including interconnection of wearables and connected homes.

Prompted by our mention of V-Connect in our review of our 2014 predictions, MD Adam Hoare has pointed out that his company also won the Medilink ‘partnership with the NHS’ award for their renal project with The Lister Hospital in Stevenage. Congratulations!

Accenture has produced an interesting (more…)