Crave Raises $1.3 Million in Venture Capital

Crave Raises $1.3 Million in Venture Capital

SAN FRANCISCO — Luxury sex toy startup Crave reports that it has raised $1.3 million in its latest funding round.

According to CrowdfundInsider.com, the funding came from various angel investors and investment platforms CircleUp and AngelList.

In 2013, the company raised $2.4 million from more than 60 angel investors. The company also secured more than $275,000 through its crowdfunding campaign on Tilt for the Vesper vibrator, and surpassed $50,000 in crowdfunding for the Flex Programmable series and the Flex Greatest Hits series.

Michael Topolovac, co-founder and CEO of Crave, said, “It’s been exciting to watch the sex toy market move more mainstream in the last few years. This larger market trend, combined with customer excitement around our products, has helped us sustain 50 percent YOY growth while becoming a highly profitable hardware company While we are funding operations out of cash flows, the new investment will allow us to invest in inventory to support our increasing growth as well as make strategic long term investments to expand our product offerings.”

Crave co-founder and vice president of design Ti Chang said, “We’ve been extremely fortunate over the past few years to have our products embraced not only by consumers, but by the global design community at large. With that increased visibility comes the challenge of protecting our designs, as well as continuing to make more and better products. This new investment will be highly valuable on both fronts.”

Pat Robinson, business development manager at CircleUp, said, “At CircleUp, we help entrepreneurs with emerging businesses that are growing quickly, already seeing great velocity of sales, filling an important market demand and delighting users authentic brands and products. When our platform performed a data-driven analysis of Crave’s business across a wide range of variables, Crave surfaced as a great opportunity for our network of investors.”

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

ProDx Health Introduces 'Assured MoFi ID' Testing Program

ProDx Health has introduced its new Assured MoFi ID Program for testing.

Eye of Love Expands 'Bloom' Collection

Eye of Love has introduced two new perfume oils from its Bloom collection.

Nobü Adds to 'Essentials' Collection

Nobü is expanding its Essentials collection with three new pleasure products.

Like a Kitten to Release 'Adventure Collection'

Pleasure brand Like a Kitten has announced that it will debut its new Adventure Collection on July 15.

Full Circle Debuts New Bullet Vibes

Pleasure brand Full Circle has introduced a new range of bullet vibrators.

Magic Silk Debuts 'Butterfly Fantasies' Collection

Magic Silk has introduced its new Butterfly Fantasies line of intimate wear.

Orion Debuts 'Vipepad' Ride-On Vibrator

Orion Wholesale has introduced the latest edition of its Vibepad ride-on vibrator.

Xgen's Dr. Mindy DeSeta Spotlighted on CBS News

CBS News has spotlighted Xgen Products resident sex therapist Dr. Mindy DeSeta on its Miami and West Palm Beach affiliate stations.

Electric Novelties Expands 'Gläs' Collection

Electric Novelties has introduced a variety of new items from its Gläs collection.

FSC Toasts Jeffrey Douglas for 30 Years of Service

n the very same evening when the adult industry was hit hard by the Supreme Court ruling supporting Texas’ controversial age verification law, HB 1181, members of the Free Speech Coalition board, staff and supporters gathered to celebrate Jeffrey Douglas’ 30 years as board chair — a fitting reflection of his reputation as an eternal optimist.

Show More