Kernel Capital invests €900k in Clare food diagnostic company AltraTech

The Cork-based investment firm Kernel Capital is leading a €900,000 investment drive in Shannon-based food diagnostics firm, AltraTech.

The Co Clare company — formed only six months ago by serial entrepreneur, Tim Cummins — has been developing a single-use portable semiconductor test kit for use in the food and agri-sectors. End users can, basically, use the product to identify food content and containments, with the kit being animal species-specific.

“With the horsemeat scandal of 2013 showing that major gaps still exist in ensuring that the food we consume is safe and authentic, there is an ever-increasing focus on food traceability,” Kernel Capital said.