SparkCharge Update | Season 12

SparkCharge appeared on Shark Tank on October 16, 2020. Founders Joshua Aviv and Christopher Ellis secured a deal with Mark Cuban and Lori Greiner at $1,000,000 for 10% equity and 4% advisory shares. Here’s a quick recap of everything that happened during the pitch as well as news on a SparkCharge update after Shark Tank.

SparkCharge Update After Shark Tank

  • Entrepreneur: Joshua Aviv and Christopher Ellis
  • Business: Portable battery for electric vehicles
  • Ask: $1,000,000 for 6% equity
  • Result: $1,000,000 for 10% equity and 4% advisory shares
  • Shark: Mark Cuban and Lori Greiner

In Shark Tank Season 12 Episode 1, Joshua Aviv and Christopher Ellis asked the sharks for a $1,000,000 investment in their company, SparkCharge, in exchange for 6% equity. As the founders explain to the sharks, SparkCharge makes portable batteries for electric vehicles and then leases them to companies like AAA to market to its customers.

Check Out SparkCharge Today!

This business model is mostly due to the high cost of production, as one unit costs $2,500 to make. Joshua and Christopher then lease a unit to a company for a $1,000 deposit and $150 a month fee going forward, meaning it will take 12 months to break even. While the sharks disagree with the business model, they were impressed that SparkCharge has made $500,000 in sales over the last 6 months and is on track to make $1,000,000 in sales by the end of 2020.

Mark Cuban and Lori Greiner are both interested and decide to go into a deal together, offering a $1,000,000 investment into SparkCharge for 10% equity and 4% advisory shares, which Joshua and Christopher accept.

So far, there hasn’t been a SparkCharge update after appearing on Shark Tank. However, when there is some news about the company, we will update our article!

For updates on the other products featured in Season 12 Episode 1, be sure to check the links below:

For more Shark Tank product updates, be sure to check out our Season 12 products page!