“SparkCharge” got featured on Shark Tank America in October 2021. Joshua Aviv and Christopher Ellis founded it.
SparkCharge Net Worth in 2022
Here is an update on SparkCharge’s net worth so far.
|SparkCharge’s Net worth before appearing on Shark Tank||16.6 Million USD (business valuation)|
|SparkCharge’s Current Net worth (2022)||30 Million USD|
SparkCharge’s founders Joshua Aviv and Christopher Ellis have a net worth of 21 Million USD as of 2022.
An ultra-fast portable charging unit named SparkCharge was featured in the Shark Tank Season 12 Episode 1 segment. It is a portable charger created especially for electric vehicles.
The owners of SparkCharge company have requested $ 1 million for 6% shares of his business in ABC Shark Tank. It was a considerable amount requested by a startup in an Australian shark tank contest.
So, we are here to explore everything you should know about the business, SparkCharge’s net worth, and what happened to SparkCharge after Shark Tank.
|Episode||Season 12 Episode 1|
|Product||Ultra-Fast Portable Charging Unit For Electric Cars|
|Founder||Chris Ellis and Josh Aviv|
|Asked for||$1 Million For 6% Equity|
|Final deal||$1 Million For 10% Equity + 4% Advisory Shares|
|Shark||Mark Cuban and Lori Greiner|
|Business status||In Business|
What is SparkCharge?
SparkCharge was introduced in Somerville, Massachusetts, in 2017. This startup business provides mobile Electric vehicle charging facilities in some cities in America like San Francisco, Los Angeles, San Jose, Dallas, etc.
Within a mile of its location, it offers the use of its mobile charging unit. They have created a mobile application to find the mobile charging unit service center. Clint can find the location of SparkCharge’s charging center using this app.
Their EV charging service is portable and charges your vehicles very fast. The best thing is that they have already supplied more than 1,500 EVs for charging to EV owners.
Who is the owner of SparkCharge?
Josh Aviv and Chris Ellis are the founders of this startup. In addition to being the startup’s founder and CEO, Aviv is also a data scientist. He had previously worked in several technology startups. It may have affected how he came up with the idea for this startup.
This company’s co-founder and CTO is Christopher Ellis. He has an electrical engineering degree. He is familiar with battery management techniques. Joshua Aviv had this idea while still in college. Before starting this startup, he did a ton of research and considered the feature scope.
What Happened At The Shark Tank?
Josh and Chris ask for $1 million for 6% of their company when they apply to Shark Tank. They tell their business story and make their pitch. On stage, they have a model. The Sharks want to recognize whether they have a consumer gadget yet – they don’t. They want to lease or sell to companies that provide roadside assistance. Customers put down a $1000 deposit and then make monthly payments on the $2500 cost of each unit. They do have future plans for consumer products. They have deployed 50 units as of now.
Kevin quits because he detests the leasing part of the job. Blake doubts they will be able to deliver a consumer unit for less than $1,000. He is gone. The idea appeals to Lori, and she queries Mark about joining forces. They predict that the business will be worth a billion dollars. In a slight role reversal, Mark requests an offer from the Sparkcharge men.
They offer Mark and Lori $1,000.000 for a 10% equity share, a board seat, and 4% advisory shares. Then, the deal is done with Mark and Lori. That’s how SparkCharge appeared on Shark Tank and succeeded in the investment.
Sparkcharge Shark Tank Update
The most well-known company to appear on Shark Tank, SparkCharge, has increased its valuation to millions of dollars. Although Mark and Lori had a contract with this company, that contract with Lori is now complete. However, Mark’s agreement with this business has not yet been finalized. Mark joined the company’s board of directors in March 2021.
You can get the latest updates on the business by visiting the SparkCharge Facebook page, SparkCharge Instagram page, and SparkCharge Twitter profile.
Also read: What happened to the Andrew’s Seat Belt Safety Business ‘buckle me up after the shark
What happened to SparkCharge After the Shark Tank
This startup has shown incredible growth since entering the SparkCharge Shark Tank. This startup has received $1 million in funding, which it needed to continue growing and surviving. The growth of charging truths for charging this electronic vehicle is increasing in the same way that the development of electronic vehicles is.
He is spending the money he received during the Shark Tank funding round on expanding and marketing his manufacturing facility. Following Shark Tank, requests for distributors from every American city have begun to arrive. Many customers have signed up for their service.
To promote Roadie, a mobile charging service that can be ordered and paid for through a new app, this business entered into a partnership with “Allstate Insurance.” Chicago, Los Angeles, San Francisco, and San Diego have all seen his rollout. Along those lines, they have millions of investments and partnerships from different parties. So, SparkCharge’s Net Worth is estimated at around 30 million dollars.
Competitors of SparkCharge
There are few competitors for SparkCharge which provide alternative services. Some examples of Competitors of SparkCharge are Dandelion Energy Inc, Solstice Power Technologies, Ze-gen Inc, FreeWire Technologies Inc, and OhmConnect Inc.