Carpe raises $2.3 mln


Carpe said April 16 that it raised $2.3 million in seed funding co-ed by Carolina Angel Network and Duke Angel Network. Other investors include LaunchCapital, Rubicon Venture Capital, and Triangle Angel Partners. Seth Radwell, ex-CEO of Proactiv, also invested. Carpe, of Durham, North Carolina, is an antiperspirant lotion that aims to reduce embarrassing hand and foot sweat, especially in patients with hyperhidrosis.

PRESS RELEASE

DURHAM, N.C., April 16, 2018 /PRNewswire/ — Carpe, a skincare startup offering over-the-counter relief for excessive hand and foot sweating to the estimated 365 million hyperhidrosis sufferers worldwide, announced today that it has raised $2.3 million in seed funding. The round was co-led by the Carolina Angel Network and Duke Angel Network, affiliated with the University of North Carolina and Duke University’s alumni networks respectively. Other investors include LaunchCapital, Rubicon Venture Capital, and Triangle Angel Partners.
Seth Radwell, former CEO of skincare behemoth Proactiv, also invested and will be joining Carpe’s board of directors. Regarding his investment, Radwell said, “Hyperhidrosis is a huge yet often not discussed condition, much like acne was 25 years ago. Carpe’s focus on bringing unique solutions to this significant problem along with customers’ rave reviews are indicative of how large the brand’s potential is. Furthermore, the direct-to-consumer business model is a great way to tell the story.”
Carpe was founded in 2015 by lifelong hyperhidrosis sufferers David Spratte (UNC ’17) and Kasper Kubica (Duke ’17) when they were college sophomores. Speaking of Carpe’s co-founders, Carolina Angel Network’s managing director Randy Myer said, “Often I see college students with big dreams, but these founders made their dream a reality – and our universities are proud to stand behind them.”
Reflecting on Carpe’s origins, Spratte commented, “I vividly remember the day in high school when I decided that I was done putting up with my embarrassing sweaty hands and feet. I decided to create something that not only I could use, but also the millions of other people who have hyperhidrosis.”
Kubica added, “When we started Carpe, few investors believed that people would buy an antiperspirant lotion. Thanks to our initial advisors, and the hundreds of thousands of Carpe fans, we’ve proven that people need Carpe. This round will make it possible to bring more life-changing products to an even larger audience. We’ve grown quickly over the past few years, but our mission today is still the same as when we were working on our first formula in David’s dorm room: we want to bring relief from sweaty hands and feet to people like us. Closing this round is a mammoth step towards that goal.”
About Carpe
Carpe is an antiperspirant lotion designed to reduce embarrassing hand and foot sweat, especially in patients with hyperhidrosis – an often neglected condition characterized by excessive sweating. It’s perfect for discreetly combating clammy hands in virtually any scenario – on dates, at business meetings, and even on the tennis court or golf course. Carpe’s proven formula, which was specifically formulated for maximum efficacy with no irritation, is gentle enough for prolonged daily use, and strong enough to help manage the symptoms of hyperhidrosis. Learn more at CarpeLotion.com
About the Carolina and Duke Angel Networks
The Carolina Angel Network (CAN) and Duke Angel Network (DAN), affiliated with University of North Carolina and Duke University respectively, are dedicated to investing funds and resources into early stage ventures with ties to their universities. Both groups target private companies with the potential for significant growth and financial return, and leverage their extensive alumni networks to provide guidance and expertise to support portfolio companies. Learn more at CarolinaAngelNetwork.com and DukeAngelNetwork.Duke.edu
About LaunchCapital
LaunchCapital prides itself on investing in great people who re-imagine what’s possible. They back entrepreneurs at the seed and early stages of development, and have invested in over 200 companies since 2008. As part of the Pritzker/Vlock Family Office, LaunchCapital invests across industries and is headquartered in New Haven with offices in NYC, Boston, and the San Francisco/Bay Area. Learn more at LaunchCapital.com.

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