The company, a recent graduate of eHealth Ventures – the leading Digital Health incubator in Israel (www.ehv.health), will use funds to complete development and prepare for launch
Sept. 23rd – Tel-Aviv. For immediate release
Allerguard Ltd., a Digital Health company developing a first-in-class solution for portable, sample free detection of food allergens has announced the completion of a post-seed round totaling $ 1.5 M. The round was led by new private investors (from Israel and the US) which were joined by insiders and were leveraged by significant support from the Israeli Innovation Authority.
During the incubator period the company has completed development of its VMD (Vapor Molecular Detection) hardware and the supporting AI-based analysis software. These innovative elements are the base of a small device which detects the specific food allergen on a PPB (Parts per Billion!) scale.
The first prototype is focused on detection of Peanuts (one of the most common and deadly food allergies) and can currently detect 0.7 Mg of peanuts (smaller than a pinhead), with no required contact with the food.
Shai Hershkovich, CEO of Allerguard: “We are happy to have completed the follow-on fundraising round. During the incubation period we have built a long list of significant assets, from IP to a Prototype, and are grateful for the eHealth Ventures support and valuable contribution. Our technology is an example how using AI technology, advanced materials and nanotechnology can improve the lives of millions, making patients more comfortable in their day-to-day lives. This funding will be used to complete the development of our peanut detection device and to prepare for launching this innovative solution for the benefit of the food allergy community worldwide.”
Steve Shapiro, a partner at eHealth Ventures and head of Allerguard’s US activities, added: “We are proud of the progress Allerguard has achieved. Food allergies are a major health risk and affect the quality of life of a growing number of people worldwide, and the financing is the completion of a long process of value building which the company has gone through during the incubation period. We continue to get validation of the critical need Allerguard is meeting in the food allergy community, we appreciate the trust of our partners and co-investors as well as the continuing support by the Israeli Innovation Authority, and we expect many more achievements soon.”
About eHealth Ventures
eHealth Ventures is a leading Digital Health incubator established in 2016 by Maccabi Health Services, a top HMO in Israel and additional leaders from the healthcare arena. The partnership has reviewed over 900 promising Digital Health projects and technologies and has invested in eight disruptive companies, strategically focusing on Digital Diagnostics and Therapeutics.
Food Allergies are a major health hazard in the western world, growing more and more widespread every year. In the USA, food allergies cause over 200,000 ER visits, 29,000 out which are due to anaphylactic shock. Some 100-200 of these anaphylactic shock cases end in death.
Allerguard is the only food allergy detection device that analyzes the vapors of a meal, alerting the user to any allergen particles down to the maximum level of allergens allowed by the International Food Industry deemed safe for consumption. Other portable detection devices require taking samples of the food meaning allergens can be missed.
For additional information:
Shai Hershkovich – CEO, Allerguard firstname.lastname@example.org