August 2024's Most Interesting Startups: Laundry & More

Crunchbase News highlights five interesting startup deals that flew under the radar in August 2024. While the summer months might lull some, these startups made their mark in various sectors, including laundry, allergy protection, space mining, and even better wood.

Cents: Laundry Platform for a Clean Business

Cents, a New York-based startup, secured $40 million in Series B funding led by Camber Creek. The company provides a comprehensive business management platform tailored specifically for the laundry industry, encompassing laundromats, dry cleaners, and even shared laundry rooms. Cents streamlines operations, facilitating payments, delivery, and marketing for its clients.

• Cents launched in 2021 and has already made a significant impact, serving over 2,700 retail laundries—roughly one in fourteen in the U.S. — and over 3,500 shared laundry rooms.
• This impressive traction has attracted significant investment, with Cents now boasting over $77 million in total funding.
• The company's recent acquisition of Laundroworks, a hardware-based payment system for laundromats and shared laundry rooms, strengthens its position in the market.

Amulet: Allergy Protection on the Go

With food allergies affecting millions in the U.S., Amulet is tackling the challenge head-on. The Madison, Wisconsin-based startup raised $5.8 million in Series A funding, led by HealthX Ventures. Amulet's innovative Allergy Amulet device allows individuals to test for food allergens in real-time, providing peace of mind during meals.

• The compact, USB-drive-like device utilizes portable sensors and rapid molecular detection technology to identify allergens, toxins, and contaminants in food.
• Amulet also offers a commercial device for restaurants, suppliers, and manufacturers, further expanding its reach.

AstroForge: Mining the Stars

Space mining is gaining momentum, and AstroForge is leading the charge. The Southern California-based startup secured $40 million in Series A funding from Nova Threshold. AstroForge's mission is to pioneer off-Earth mining, aiming to address resource depletion on our planet.

• Having launched its first mission last year, AstroForge is preparing for its second mission later this year.
• The new funding will fuel a third mission, where AstroForge plans to dock a 440-pound spacecraft on a metallic asteroid next year. If successful, this will be the first privately funded mission to land on a celestial body beyond the Earth-Moon system.
• AstroForge's bold ambition and impressive progress have attracted significant interest from investors, with the company now holding $55 million in total funding.

ZBiotics: Probiotics for Modern Life

The health and wellness sector continues to grow, and ZBiotics is making its mark in the probiotics field. The San Francisco-based startup raised $12 million in Series A funding led by Spring Tide Capital. ZBiotics is developing genetically engineered probiotics that address health challenges related to modern diets and lifestyles.

• ZBiotics gained recognition for its Pre-Alcohol Probiotic Drink, which helps mitigate the effects of alcohol consumption.
• The company has experienced rapid growth, doubling sales annually and achieving profitability.
• The fresh funding will enable ZBiotics to expand its portfolio beyond its single-product focus, creating a range of genetically modified probiotics for various health applications.

InventWood: Building with Superwood

InventWood, based in Frederick, Maryland, is creating a revolution in building materials with its "superwood" technology. The company raised $8 million from investors including the Grantham Foundation and Builders Vision.

• InventWood's proprietary technology transforms wood's nano-cellulose structure—nature's strongest material—into a high-performance, climate-resilient building material.
• Superwood offers superior strength, lightness, durability, and fire, insect, and rot resistance, making it a compelling alternative to traditional materials.
• InventWood is poised for commercial launch in early 2025.

Venture Capital Funding in August 2024: A Look at the Trends

These five startup deals showcase the diversity and innovation driving the venture capital landscape in August 2024. While laundry might not be the first industry that comes to mind for groundbreaking startups, Cents demonstrates that even everyday necessities can benefit from cutting-edge solutions.

Meanwhile, Amulet's allergy protection device addresses a pressing concern for millions, highlighting the potential of technology to improve quality of life. AstroForge's space mining ambitions represent a bold vision for the future, while ZBiotics' focus on probiotics for modern health reflects the increasing demand for personalized solutions. Finally, InventWood's superwood technology promises a sustainable and high-performance alternative for the construction industry.

These startups represent a cross-section of industries, demonstrating the breadth of innovation that venture capital is fueling.