The sextoy startup Lora DiCarlo is still on the road to success. After the CTA re-awarded the company a CES Award for its Osé massager, the manufacturer was now able to announce that Lora DiCarlo has received an additional two million dollars through another round of financing.
The capital increase comes from existing investors from the Oregon Opportunity Zone Limited Partnership and new investors alike. The founder of the sex-tech company, Lora Haddock, has every reason to be optimistic about the future.
Attractive mix for investors: robotics, sexual wellness and tax advantages
In a short statement on the new financing round, the entrepreneur says: »I am pleased and honored to have a group of investors that prioritize social responsibility along with profit. Our investors represent forward-thinking individuals and organizations that share our vision that the thoughtful application of technology can improve sexual health for millions. Additionally, our investors support our mission of promoting gender equity and making societal changes that benefit everyone.«
As the company is headquartered in a so-called Opportunity Zone, investors can benefit from special tax advantages. The commitment should therefore not be based exclusively on idealistic motives.
New investors are committed to the company’s strategy
Among the new investors is Richard Kado, President of Kado Family Inc. Commenting on his investment, Kado said, »I invested because Lora DiCarlo is positioned at the intersection of sexual health research and cutting-edge robotic technology creating new products that help everyone have more satisfying sexual interactions. Additionally, Lora DiCarlo’s commitment to low-income and underserved communities demonstrates an exceptional level of corporate social responsibility while also providing meaningful tax advantages for investors.«
The additional funds will be used by the company to finance the launch of Osé, a hands-free high-tech massager, scheduled to be launched in autumn. According to the company, the product imitates in a surprisingly authentic way the touches and sensations that occur when skin gets stimulated by mouth, tongue and fingers.
Great expectations – blessing or curse?
The Osé is the company’s first product and the investors’ trust is immense. Lora DiCarlo certainly owes this not only to its eight patents but also to the global attention that the CTA’s rescinding of the CES Award and the subsequent correction of that ridiculous decision brought with it.
So far, 3.2 million dollars have been invested in the company. Lora DiCarlo has a lot of plans. The expectations of the young company are now very high. It remains to be seen whether the startup will be able to meet this expectation and really become a disruptive force in the already crowded market.
If you are interested in additional information visit the company’s website.