BEND, Ore., May 8, 2019 /PRNewswire/ -- Lora DiCarlo, the company dedicated to bringing human-like robotics to sex, announced today an additional $2 million in financing from both new and existing investors led by the Oregon Opportunity Zone Limited Partnership ("OOZLP"). Funds will go to the commercialization of Osé, the only product designed for hands-free blended orgasms. Using advanced patent-pending micro-robotics, Osé mimics the sensations of a human mouth, tongue, and fingers, for an experience that feels remarkably like a real partner.
Under the IRS program, an Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Lora DiCarlo investors recognize both the profit potential and tax benefits of investing in an Opportunity Zone and have decided to invest in the company through the Oregon Opportunity Zone fund.
"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," said new Lora DiCarlo investor Richard Kado, President of Kado Family Inc. "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."
Lora DiCarlo has prioritized its social mission adjacent to its profitability. The company has carefully chosen to locate in Opportunity Zones in both Corvallis and Bend, Oregon to spur economic development and job creation in these historically distressed communities. Lora DiCarlo has created 14 new full-time positions within these zones in the last year. The company's research and development lab is located near Oregon State University's College of Engineering in an Opportunity Zone in downtown Corvallis, while its headquarters are in an Opportunity Zone in Bend.
Lora DiCarlo has raised a total of $3.2 million to date. The latest funding round demonstrates that international investors see the profit potential for new technology at the intersection of sexual health wellness and thoughtfully engineered robotics.
"I am pleased and honored to have a group of investors that prioritize social responsibility along with profit," said Lora Haddock, Founder and CEO of Lora DiCarlo. "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."
Starting with Osé, Lora DiCarlo intends to disrupt this traditionally male-dominated industry, raising the bar to introduce the next level of pleasure tech.
About Lora DiCarlo
Located in Bend, Oregon, Lora DiCarlo is a gender-inclusive, sex-positive company tackling the no longer "taboo" topic of vagina-specific orgasms. Using advanced microrobotic technology engineered in a leading university laboratory, Lora DiCarlo has developed its first product, Osé, set to hit the market in the third quarter of 2019. Lora DiCarlo was founded by a woman with years of experience in healthcare, a special interest in female physiology, and a dream of eradicating social and sexual stigmas. For more information on Lora DiCarlo visit: www.loradicarlo.com
SOURCE Lora DiCarlo