- An entrepreneur from Philadelphia pitches a smart plate containing food-recognition technology to aid dieting; two women from Minneapolis, MN create a sweetener that tastes just like honey, but not made by bees; a Houston, TX-based entrepreneur pitches a unique spa business for babies; and confident Stanford grad from San Francisco, CA believes he's at the forefront of where high tech meets fashion for men's custom shirts.
- Sharks attending are Mark, Daymond, Kevin, Barbara and Chris Sacca
"SmartPlate": Martin Dell'Arciprete pitches a plate with built-in technology that analyzes meals and calculates their nutritional value. Martin is seeking $1 million for a 15% stake in the company, which is currently at the prototype stage. However, the plate cannot differentiate between different types of oils and other ingredients. The SmartPlate retails for $200. The sharks point out that smartphones can perform similar functions with the help of an app and algorithm. Martin has secured $225,000 in investments, with $80,000 coming from friends and family. The investors are committed to a total of $550,000. Daymond is uncomfortable with Martin's pitching style and decides to bow out. Kevin is also out, stating that most people consume food outside of their homes and don't carry plates with them everywhere. Mark opts out since all the technology is outsourced. Chris believes there are smarter ways to solve the problem and decides to pass. Barbara is unimpressed with Martin's presentation and chooses to decline the opportunity.
"Bee Free Honee": Melissa Elms and Katie Sanchez present their apple-based vegan alternative to honey. They are seeking $100,000 for a 10% stake in their company. They highlight that it takes 60,000 bees to produce one pound of honey, while their product is made from apples. The cost per unit is $1.6, and the retail price is $6, making it a competitive option compared to regular honey. They generated $78,000 in revenue last year and have successfully tested their product with Whole Foods and Costco. Kevin decides to pass, arguing that the product doesn't solve a significant problem. Daymond offers $100,000 for 25% if the women are open to changing the packaging to emphasize the environmental impact of saving bees. Chris offers $200,000 for 30% equity. Daymond modifies his offer, proposing $100,000 for 10% equity and an additional 20% of online sales. Mark, Barbara, and Chris team up to offer $210,000 for 30% equity. Melissa and Katie accept this joint offer.
"Float Baby": Kristi Ison introduces her flotation and massage facility for babies. She is seeking $150,000 for a 20% stake in her business. Although Kristi lacks self-backed research supporting the medical claims of hydrotherapy for babies, she has a pending patent. Her facility charges $65 for one hour of massage and flotation, and she earned $45,000 in sales last year, with $60,000 projected for this year. However, Kristi is not selling all available time slots, and she admits that social media is not her strong suit. Mark decides not to invest, and Chris also opts out, seeing no unique aspect to the business. Daymond is not convinced due to Kristi's lack of control over her own destiny. Barbara believes Kristi lacks the hustle required and decides not to invest. Kevin advises Kristi to focus on selling the flotation devices without the classes, but Kristi declines this suggestion.
"MTailor": Miles Penn presents his app, MTailor, which takes body measurements via a phone camera and uses them to design custom clothing. Miles is seeking $2.5 million for a 10% stake in his company. The app's algorithm allows for the delivery of custom shirts priced at $70, while the regular cost would be $120. The algorithm is proprietary, and the company experiences a 15% return rate. They are on track for $2 million in revenues this year, but supply chain issues may limit it to $1.1 million. MTailor has raised funds at a valuation of $10 million. Chris suggests that the real value lies in licensing the technology to larger players, but he decides not to invest as he believes the company is overpriced. Barbara is put off by Miles's casual attitude and opts out. Daymond offers $2.5 million for a 17.5% stake, focusing on licensing the technology, but Miles wants to build his own brand and declines the offer. Kevin proposes a $2.5 million debt at 7% interest for 36 months and a 2.5% equity stake, but Mark decides not to invest, citing manufacturing issues. Miles declines Kevin's offer.
Update on iLumi (Episode 525): Swapnil Bora and Corey Egan's app-controlled smart light showcased at the CES electronics show. Since their appearance on the show, iLumi has gone from pre-revenue to $2 million in sales. They have secured deals with Best Buy, Home Depot, and Amazon.
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