However, it is not able to turn non-potable water into potable water.ĭ) L10: L10 is a portable water purifier that can go from zero to 1,000 gallons of clean drinking water for between 40 to 80 cents a gallon. It also removes lead, copper, mercury and other pollutants. Carbon filters are capable of removing chlorine, odours, and taste. However, it does not clean dirty water.Ĭ) Cheers Healthy Water: Cheers Healthy Water is a carbon filter that manufactured in the USA. The device is eco-friendly, safe, powerful and affordable.
The cost is around $159 for a device that is about the size of a tennis ball can clean up to 1,000 gallons of water in less than 15 minutes.ī) Aquion: Aquion water purification system is a portable water disinfection solution that comes in the form of a high density polyethylene bottle with integrated ceramic electrodes. However, it does not work on cloudy water. Competitors of LARQĪccording to the official website of LARQ, there are various competitors of LARQ Bottle including:Ī) Roxane: Roxane is a portable UV light that eliminates all germs including salmonella, E. Justin Wang, the company’s co-founder and CEO, is still on board.
The water bottle that cleans itself Larq is still in operation, with a broader product line.Ĭustomers may purchase their items online at its website, as well as through numerous e-commerce platforms or wholesalers throughout the world. In 01/12/ 2020, Larq joined forces with three-time NBA champion Daymond Green. What Happened to Larq After the LARQ Shark Tank Pitch?Īfter many counteroffers from the Sharks, Justin accepted a $1 million offer from Kevin O’Leary and Lori Greiner for a 4% ownership in the company.įollowing the initial airing of the Larq Shark Tank episode in spring 2021, the firm supposedly raised an additional $10 million. With just Kevin and Lori remaining, and the latter hesitant to settle for advisory shares, Wang ultimately decided to execute the transaction for $1,000,000 million each for a 4% stake. When Wang stated that he would like 1.5 percent of the shares to be advisory shares, Robert declined. Mr Robert replied with $1.5 million for a 6% interest. Mark Cuban opted out! With all of the proposals in hand, Wang asked the three whether they wanted to do it jointly.Ī $1.5 million investment for a 4.5 percent share. Robert Herjavec then added to the complication by requesting a 3% ownership and a 2% advisory fee. Lori Greiner requested $500,000 a 5% share. Kevin O’Leary then offered $ 500,000 for a 4% share. The sharks were generally impressed with the sales figures and were even more astounded by LARQ’s financial health.ĭuring the shark tank pitch, Daymond John was the first to declare his resignation. He estimates that LARQ will generate more than $14 million in sales in 2021. He stated that he originally launched LARQ in 2018, and that sales have steadily climbed since then. In 2021, Justin approached the shark tank looking for a $500,000 investment for a 1% investment in LARQ Company, which he estimated at $50 million.
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The same year, the company announced a $10 million Series A lead from Seventure, with participation from the investment firm DCM. They also conducted IndieGoGo campaigns for their items, which were a huge success. The firm returned to Kickstarter in 2020 to fund its forthcoming product, the “world’s first self-cleaning bottle.” LARQ was also named one of the “Top 10 Smartest Sustainable Products of 2018” by Time Magazine. Popular media such as The Wall Street Journal and Goop have mentioned the product. They grew in popularity at a fast pace, which enhanced their sales. LARQ was well-received by consumers and critics alike shortly after its market debut in October 2018. Justin Wang’s journey began in 2017 with a Kickstarter effort that raised $1,374,021.
What Happened to Larq at the LARQ Shark Tank Pitch?
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