Pelagion Update | Shark Tank Season 17

When Jamie Schlinkmann was young, he loved riding his Kawasaki stand-up jet ski, but he also saw how jet skis and boats were noisy, expensive, and bad for the environment. Years later, he teamed up with Mike Terry to create the HydroBlade. Their stand-up electric hydrofoil runs quietly, cuts out emissions, and makes riding the water simple and clean. Let’s see how the negotiations go for Jamie and Mike in our Pelagion update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Pelagion after Shark Tank.

Mike and Jamie entered Shark Tank Season 17, seeking $800,000 for 4% equity in their high-tech jet ski. Unfortunately, they left without a deal.

In terms of a Pelagion update, Mike and Jamie are still in the prototype phase. Preorders are still open and they are also actively seeking investments.

Shark	Result
Kevin O’Leary	No offer
Kendra Scott	No offer
Lori Greiner	No offer
Robert Herjavec	No offer
Rashaun Williams	No offer

Shark Tank Pelagion Pitch

• Entrepreneurs: Mike Terry and Jamie Schlinkmann
• Business: High-tech jet ski
• Ask: $800,000 for 4% equity
• Result: No deal
• Shark: None

Mike and Jamie introduced themselves from South Florida and said they were asking for $800,000 for 4% of their company.

Right away, they explained that millions of Americans go boating each year. Families, explorers, and thrill seekers all look for freedom on the water.

However, traditional boats and jet skis come with problems. They are bulky, expensive, noisy, and they pollute.

Mike told the sharks there was now a better way. He revealed their product, the HydroBlade. The sharks leaned in with surprise as the sleek device was unveiled.

Jamie explained that the HydroBlade is the world’s first stand-up electric hydrofoil with intuitive steering. It rides like a motorcycle but feels like gliding through the air.

It runs silently, reaches speeds of up to 40 miles per hour, and offers four hours of operation. All of this comes without emissions.

Meanwhile, Mike added that the HydroBlade solved the weaknesses of both jet skis and e-foils. Jet skis disturb the peace and damage the environment. E-foils tire out riders.

Their product uses three hydrofoil points for balance, which makes it stable and easy to ride.

Kendra Scott asked how they came up with the idea. Jamie told his story. As a kid, he owned a Kawasaki stand-up jet ski and loved the freedom it gave him.

Later, he started an industrial automation company, but he always wanted to build marine products. The HydroBlade was his chance to return to that dream.

Rashaun Williams asked when they started the business and how it was funded. Jamie said they launched in 2021 and had spent about $2 million so far. Most of it was self-funded, though they recently began a WeFunder campaign.

Kevin O’Leary pressed on production. Jamie admitted they were not in production yet. They were still taking pre-orders, and the model they brought was a prototype.

Lori Greiner followed up, asking how they built it. Jamie explained that their machine shop handled the design and engineering, since they had mechanical, electrical, and software expertise in-house.

At this point, the sharks pressed on cost and pricing. Jamie said the HydroBlade retails for $25,000 with a $12,500 cost to make.

Robert Herjavec was quick to compare. He noted that current high-end jet foils sell between $5,000 and $15,000. He questioned why customers would pay $25,000.

Jamie countered that no competitor offered four hours of battery life or a 50-mile range.

Lori then asked if the price could be cut in half. Jamie said their CFO suggested a smaller battery version, but early customers had not pushed back on the price.

However, concerns grew. Rashaun said the company’s $20 million valuation was too high for such a capital-heavy business with only 19 pre-orders. He went out.

Robert said the pitch was confusing and also went out. Kevin criticized the deal structure and warned Jamie against arguing with investors. He bowed out as well.

In the end, Lori liked the concept but thought the price was unrealistic. She dropped out.

Kendra praised the design and even said she wanted two for herself.

Still, she believed the ask was too small for what the business needed and raised concerns about how Jamie reacted to criticism. For those reasons, she also went out.

In the end, Mike and Jamie left without a deal.

Now that we know how the negotiations ended, let’s get a Pelagion update to see what happened to the company after Shark Tank.

Shark Tank Pelagion Update

Although Mike and Jamie had a brilliant idea, it’s quite unfortunate that they didn’t secure any offer from the sharks.

In terms of a Pelagion update, Mike and Jamie remain active in the business and are continuing to work toward launching the HydroBlade.

Pre-orders are currently available through the Pelagion website.

Despite not getting a deal, airing on Shark Tank will likely introduce Mike and Jamie to other investors who may be interested in partnering with them.

In fact, they have opened investment opportunities to the public. Here’s more info about investing in the HydroBlade.

We will keep an eye on things and will be back with another Pelagion update soon!

Before you go, be sure to check out our other updates from Season 17, Episode 1:

• Doublesoul Update
• Z-Coil Update
• Dad Strength Brewing Update

You can also find more on our Shark Tank Season 17 companies page!