Lora DiCarlo wants everyone to be able to invest in sexual wellbeing.
Today the sex technology company launches on Republic, a crowdfunding platform for stocks. Similar to Kickstarter, Republic users can invest at least $ 100 in startups for equity and other benefits that vary based on their level of investment.
“The sexual wellness industry is very lucrative,” said DiCarlo, founder and managing director of her company of the same name. “There [are] There aren’t many ways to invest in sexual health and wellbeing. We all want a better sex life. So why not give everyone the opportunity to invest? “
The company expects to raise at least $ 25,000 through Republic, DiCarlo said.
Republic’s brand manager Lisa Carmen Wang confirmed the rapid growth of the sex tech industry over the past five years, according to the statement.
“Western culture has a long history of portraying sex only through the male gaze, which results in women’s sexual pleasure being shrouded in shame,” Wang said in a statement. “As a modern society, we are finally breaking taboos and recognizing the experiences of women. Sex tech companies like Lora DiCarlo challenge centuries-old stigmatizations regarding women’s sexual pleasure and show that it is not only an empowerment, but a highly investable market as well. “
Lora DiCarlo is known for his Osé massager, which was named “Prize Winner” at the Consumer Electronic Show Innovation Awards 2019. The award was overturned by the Consumer Technology Association, which viewed the massager as a violation of its rule of using products that are “immoral, obscene, indecent, profane, or inconsistent with CTA’s image.” Lora DiCarlo was then banned from exhibiting at CES.
The move sparked an online backlash, and the CTA eventually went back on its comments and reinstated the award.
Last year, Lora DiCarlo hired model Cara Delevingne as co-owner and creative director. Lora DiCarlo raised $ 3 million, including an investment from Delevingne, in a Republic Labs-led investment round shared with Republic, the crowdfunding platform.
The company expects sales of $ 6 million to $ 10 million in 2021, which DiCarlo says is due to product launches scheduled for later this year.
“We have a holistic approach to sexual health and wellness that includes services, experiences, our line of health and wellness that we want to bring to life, and the technology that goes into our products,” she said.
More from WWD.com:
Dame Products raises $ 4 million in seed funding
Why do Instagram and Facebook continue to ban female wellness ads?