FX.co ★ Small US companies that strike gold amid COVID-19 pandemic

AFRICAN ANCESTRY (Washington)

13 employees

African Ancestry develops genetic tests for African-Americans who want to find out their origin, namely, to trace it to a specific state in modern Africa. The founders of the firm are Rick Kittles and Gina Page. During the pandemic and the lockdown regime, the demand for genetic testing at home has experienced an unprecedented upturn. The company has been operating for seventeen years and has managed to provide its services to more than 1 million African Americans. The company also works with famous people, e.g. TV host Oprah Winfrey. In March of this year, at the height of the epidemic, the revenue of African Ancestry increased by two-thirds. By the end of the year, its total volume may reach $8 million.

AMP ROBOTICS (Louisville, Colorado)

70 employees

The company's founder is Matanya Horowitz. AMP Robotics provides safe waste management services to companies that do not want to put their employees' health at risk. Robots developed at AMP Robotics sort garbage by category, distributing paper, plastic, cardboard, etc. by different containers. Until recently, only people could do such a type of work. However, with the invention and improvement of artificial intelligence, a robot can now do a lot of things at the factory. The company's revenue for the current year has already surged by 50%. By the end of this year, it is expected to come in at approximately $20 million.

ASPETTO (Fredericksburg, Virginia)

12 employees

The founders of the company, Robert Davis and Abbas Hader, occupied an unusual niche in the market. During their student years, they argued that the country's government organizations, whose tasks include safeguarding and protecting high-ranking officials, would be willing to pay a lot of money for bulletproof ammunition of a more fine style. At first, this idea seemed ridiculous but as it turned out that fashion did exist in the military industry. Moreover, the demand, especially for the female ammunition, is high despite the fact that its average cost is around $3,500. This year, Aspetto won a contract to produce uniforms for the air force and bulletproof vests for the Bureau of Prisons. The company's net profit is sure to jump significantly. Its revenue is forecast to hit $12.5 million by the end of the year.

AVIDBOTS (Kitchener, Ontario)

170 employees

Avidbots works on the production of robots that clean floors. The company's founders, Pablo Molina and Faizan Sheikh, did well even before the coronavirus pandemic. For example, their robots were used in contactless cleaning at the Charles de Gaulle Airport in Paris, as well as at a shopping center in Toronto. According to rough estimates, the company may increase its revenue twice to $10 million amid quarantine measures. Besides, the company experienced a boom thanks to active business development and cooperation with DHL Express, a delivery company. In addition, contracts for robots to clean US schools when they re-open will also bring high yield. The company is also working on the improvement of robots' fitting, which will expand their functions to washing and disinfecting door handles and tables. If this scenario comes true, AVIDBOTS will capitalize on this idea considerably.

BALA (Los Angeles)

5 employees

A married couple, Natalie Holloway and Max Kislevitz, created Bala. Its main products are weighted wrist or ankle bracelets for fitness training called Bala Bangles. The standard model weighs 450g and costs $45. Before the coronavirus pandemic, the demand for these products was rather sluggish. However, in February, Natalie and Max took part in a reality show. At the very end, they managed to win a cash prize of $900,000 to develop their business. Quarantine measures and closure of gyms triggered a high interest in the company's products. Naturally, its revenue skyrocketed. This year, sales of bracelets have grown to 500,000 units while the net profit may amount to $19 million.

EVERBLOCK SYSTEMS (New York)

14 employees

The company's founder, Arnold Rosan, came up with the idea to produce giant modular blocks that can be used to build walls and doors in offices, as well as classrooms, and military buildings. His idea came in handy when the coronavirus outbreak took place. It was used in the construction of temporary hospitals for patients infected with the coronavirus. EverBlock Systems has managed to prove itself a reliable high standard company. Thus, many larger firms signed a contract with this company. Now it is starting to cooperate with schools. This year its revenue is likely to amount to $20 million.