Conover-based textiles startup Nufabrx recently closed a $10 million Series A funding round.
The company, founded in 2011 by Jordan Schindler, is a drug delivery platform that allows people to receive medication through everyday clothing. The equity round was led by Matt Soule and partners Angela Simmons, Steve Vetter, Ollie Crary and Mike Twilley, with participation from previous investors Charlotte Angel Fund and the N.C. State University Wolfpack Fund.
Schindler said Nufabrx had raised $6 million prior to this round. The startup landed at No. 50 on the Inc. 5000 list of the Fastest-Growing Private Companies in America earlier this year.
"After the Inc. 5000 news came out, we got a lot of outreach from investors, and it felt like a good time to capitalize on the news," he said. "It's been great to get people involved who believe in the vision and what we’re doing."
The funds will be used to continue boosting the company's growth and building its vision of medicine through clothing, Schindler said.
"We’re launching at Walgreens (this) week, and we'll continue to build the innovation from the (research and development) pipeline to make good products that help people," he said.
Nufabrx products are currently available on its own website as well as through CVS and Walmart, both in stores and online. Schindler said the company will launch a test run with another major retailer in early 2022.
Schindler began working on Nufabrx after he learned from his dermatologist that pillowcases were a leading cause of acne. The company's first product was a pillowcase infused with tea tree oil and lavender. The startup was founded on the mission of simplifying health and wellness. Its core technology enables the delivery of vitamins and medicine through clothing, he said.
Seeing his vision come to fruition over the last decade has pushed Schindler and the Nufabrx team to keep innovating.
"We’re just excited about the new investor partners and to capitalize on some of the partners who exist here locally," he said. "Part of the reason I moved this business to North Carolina from Seattle was to be in the heart of manufacturing. To see the capital start to flow behind that is really cool."
