Aira could be the future of wireless charging & as you may recall from From ‘Episode 3,’ season 11, episode 3 of Shark Tank, how It made a bidding war among Sharks.
What is Aira?
According to Aira’s website,
Aira’s full-stack solution is designed for companies that want to deliver the most advanced wireless charging experiences. We engineer the coil structure, power electronics, and controlling firmware, providing a complete hardware and software module that seamlessly integrates into our partners’ products.
Aira’s technology explained.
Rather than your conventional wireless charging deck, on Aira, you can place your device anywhere on the mat. The technology was explained properly by Aira’s CEO Jake Slatnick.
What happened at the Shark Tank?
Aira was founded in 2017 by Jake Slatnick and Eric Goodchild. Both of them had the opportunity to appear on the Shark Tank.
During their Shark Tank Pitch, Jake & Eric explained the true power of their technology.
They grabbed the attention of not one but three Sharks Lori,Kevin & Robert.
Eric and Jake enter the Shark Tank seeking $500,000 for 7% of Equity from Aira. The Sharks pay immediate attention to the giant Tesla coil the guys brought to the Tank. Sharks show love to the technology behind Aira as well.
However, the revealing of The $30,000 a month burn rate, Sharks starts to worry a bit. Sharks then finds out that Aira is about to get an order of 33,000 units. Then the bidding war begins.
At first Robert goes solo and makes an offer of $500K in return of 10%. But Lori teams up with Mr. Wonderfull AKA Kevin to give 500K$ as a line of credit. Jake & Eric refuses to take a loan. This makes Lori & Kevin to modify the offer in to a pure equity trade but they keep their percentage as 15%.
Jake immediatly grabs the opportunity & invite all three Sharks to team up.
Kevin, Robert, and Lori all make offers while Eric and Jake suggest they team up and they agree. All three Sharks invest a total of $500,000 for 15%.
Aira Shark Tank Update Here is What happened after Shark Tank?
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show.
Yet there is no evidence Aira’s deal closed as of SEP, 2020 & The company does not appear on any of the three Sharks’ websites. Eric & Jake claim they found other licensing partners and are focusing on tablet makers to license to. So the best-case scenario could be the original Shark Tank Deal actually didn’t go through.
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