The Spanish brand of intimate cosmetics Lubets has closed a new financing round of 713,000 euros, a larger capital than initially planned, and raised to address its growth in two strategic distribution channels for the company, such as pharmaceuticals and mass market. In addition, this operation has been carried out after Lubets, with its sex gels, broke into the Saudi and Asian markets.
Founded in 2019 by Alicia Zurita, an entrepreneur with extensive experience in the sexual sector, Lubets is an innovative 100% Spanish brand of sensation-enhancing gels in pocket format that has revolutionised the traditional lubricant market, changing the concept of pathology for a use focused on free and experiential enjoyment. Since its beginnings, the company has had the support of Tom Horsey, Juan José Mostazo, Tomaso Cremoseni and Alma Ventures, which have allowed it to grow exponentially to become a leader in its segment, and to close important distribution agreements such as the one with Aurovitas, with which it entered the pharmacy channel.
The financing reached this month ensures a capital inflow of €713,000 with which it aims to close 2023 its presence in more than 5,000 pharmacies, as well as make the necessary leap to the consumer channel, absolutely strategic in its business plan. Initially planned at €600,000, Lubets has closed this round at €413,000 thanks to a follow-on €108,000 and €305,000 from new investors, including the investment funds Eoniq and Seedway.
With this investment, and the prediction to close the year with double the number of orders expected, Lubets “has far exceeded the initial planning in terms of growth in talent, points of sale and turnover, as well as in the internationalisation plans”, explains its founder and CEO, Alicia Zurita.