Jake Slatnick and Eric Goodchild knew they had something special with AIRA’s wireless chargers and know it could be a game-changer for the market. An initial pitch of $500,000 for 7% equity seemed like a lot, but their
Shark Tank AIRA Update
- Entrepreneur: Jake Slatnick and Eric Goodchild
- Business: Free position wireless charging surface
- Ask: $500,000 for 7% equity
- Result: $500,000 for 15% equity
- Shark: Kevin O’Leary, Lori Greiner, and Robert Herjavec
Wireless charging is a new and exciting technology, but it’s limited. Jake Slatnick and Eric Goodchild (the world’s premier expert on Tesla coils) came up with a more free-form charging surface to avoid this problem. Instead of being right on target with your device, the AIRA charging surface can hold multiple devices in any configuration – and charge them all!
Jake and Eric wowed the sharks with their demonstration, showing they could charge three phones at once. Their openness to licensing also impressed the sharks. The unit was proprietary, too. As the sharks said, they’ll make more money selling the tech to other companies. In addition, AIRA recently took on its first bulk licensing order for 33,000 units.
Despite this, Daymond John and Mark Cuban dropped out. They agreed that the tech market changes too fast for AIRA to be investable.
The other three sharks thought differently. Robert Herjavec offered $500,000 for 10% equity, while Kevin O’Leary and Lori Greiner went in together on $500,000 for 15% equity. Jake and Eric were great negotiators. They offered all three sharks a deal of $500,000 for 15% equity. Consequently, the sharks accepted. How did the company fair after this investment? Find out in our AIRA update.
It turns out that AIRA is doing quite well for itself. Since the show, they’ve secured a partnership with Nomad, who now makes the Nomad Base Station using their tech. FastCompany also featured the company alongside AMD, Samsung, and Apple in their list of 2021’s most innovative companies.
In our AIRA update, we found that it is taking the automotive world by storm. Motherson, one of the leading companies for auto parts supply, has partnered with AIRA and plans to put their FreePower technology into newly produced cars. As a result, AIRA’s estimated yearly revenue is about $16.5 million.
Make sure to take a look at our other company updates from Season 11 Episode 3:
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