Oars + Alps, an e-commerce men’s ath-leisure and grooming brand, has closed on a $1.3 million round of seed funding.
Lead investors are Levy Family Partners and Breakout Capital, both of which focus on e-commerce businesses.
Oars + Alps was founded in 2015 by Mia Saini Duchnowski and Laura Lisowski Cox who used $50,000 of their personal savings along with money they got from winning the regional 2016 Harvard Business School New Venture Challenge.
“We knew we needed additional capital in 2017 to grow our business and to keep up with the demand for our product,” said Duchnowski, chief executive officer. “It was important for us to find strategic investors whose interests were aligned with ours in terms of growth, scope, time, and level of involvement. We were pleasantly surprised to be oversubscribed in less than a month, and this allowed us to make sure we had the right investors who were passionate about both the space and the brand.”
They will use the money to hire more staff, add other merchandise and produce additional quantities of its most in-demand product. The company said there is currently a wait list of over 1,000 people for its solid face wash, for example.
Additionally, Oars + Alps will launch a non-profit partnership with SOS Outreach, an organization that inspired kids to make healthy and positive choices through outdoor activities and donates a portion of its proceeds to the group.