What Happened to Aira After Shark Tank pitch?

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What is Aira?

Aira is a wireless charging Platform Company that manufactures chargers that are meant to blend in with their surroundings while charging several devices at the same time.

Their method is known as “FreePower,” and it allows consumers to place their smartphone imprecisely while still obtaining a full charge.

The start-up entered the market quite early, at a time when large corporations had yet to develop an authorized device for charging many items at the same time.

It adheres to the widely used wireless charging protocol known as the Qi standard, thus it will operate with smartphones from major manufacturers like as Apple, Google, Samsung, and Huawei.

It may also charge a variety of other devices such as air pods, remote controls, and watches.

Who is the Founder of Aira?

The business was founded in 2017 by Eric Goodchild and Jake Slatnik.

Eric Goodchild and Jake Slatnick, the company’s founders, both attended Arizona State University before launching Aira.

Goodchild holds a bachelor’s degree in electrical engineering as well as a master’s degree in embedded systems.

He went on to start Goodchild Engineering, a high-tech design and engineering business that specializes in stage and theatrical special effects.

Meanwhile, Slatnick earned a bachelor’s degree in Entrepreneurship Technology. He co-founded a number of businesses, including Tap Contact Exchange and Hammack Apparel Inc.

In 2017, he collaborated with Goodchild to launch Juic, which they later renamed Aira.

Goodchild and Slatnick founded Aira with the goal of improving on existing wireless charging technologies.

Their Aira FreePower technology allows for the simultaneous charging of many devices on the charging surface without the need for a “sweet spot” setup.

Rather than constructing their own wireless charger, the technology company decided to license the technology and first cooperated with lifestyle brand Nomad on the latter’s wireless charging device.

The Aira founders realized that licensing the technology and private labelling the items would be more beneficial to their company.

Wireless charger manufacturers, such as Nomad, can then use the patented technology to build wireless charging products for retail consumers.

Furthermore, the developers indicated that they saw their technology being employed in autos, coffee shops, and other business establishments.

What Happened to Aira at the Shark Tank Pitch?

Eric and Jake made their appearance on Shark Tank season 11 episode 3 in quest of $500,000 in return for a 7% share in their company. This equates to a $7.1 million valuation.

The Sharks are taken aback by the massive Tesla coil that the boys have brought to the Tank.

They are also awestruck by the technology. The Sharks are concerned about their monthly burn rate of $30,000 per month.

According to them, their partner Nomad has placed a pre-order for 33,000 units. This pre-order number, as well as the Tesla coil they brought on stage, definitely thrilled the Sharks.

Robert Herjavec was the first Shark to offer $500,000 in cash in return for a 10% stake in the company.

Lori Greiner didn’t waste any time in making a pitch to Shark Kevin O’Leary for a $500,000 loan at 9% interest in return for a 15% equity split.

O’Leary claimed that because they have done it before, they can assist entrepreneurs with licensing.

Herjavec sensed the Aira founders’ hesitation and sought to persuade them to accept his offer. “You do not need a line of credit,” Herjavec reminds the business owners. “You’re starting a business. We’re going to put this thing together collectively.”

“We are looking for strategic partners,” say Aira’s founders.

Greiner and O’Leary quickly changed their offer to include cash rather than a line of credit, as well as the experience of two Sharks, albeit at a 15% equity share.

Yes, Aira was signed after stunning the Sharks with a counter offer.

With three Sharks vying for the same contract, Aira founders Goodchild and Slatnick proposed that the three Sharks pool their resources and invest $500,000 in return for a 15% equity part in Aira.

Herjavec was taken aback at first, and he examined the situation as Greiner and O’Leary waited. When Herjavec was finally satisfied, he said, “Done!”

Greiner and O’Leary accepted Aira’s counter offer as well, and the three Sharks stood to shake hands on the deal.

What Happened to Aira After her Shark Tank pitch?

The deal was finalized, and they were well received at the CES in January 2020.

At the conference, they unveiled FreePower, a system that can charge multiple devices placed anywhere on the pad’s surface.

The company is thinking about using this new technology into autos, furniture, and consumer gadgets. As of June 2021, the company’s annual revenue is $4 million.

Aira announced a $12 million funding round led by private investors on August 3, 2021.

What is the Net Worth of Aira?

Eric and Jake entered Shark Tank in quest of a $500,000 investment in exchange for a 7% stake in their company. This equates to a $7.1 million valuation.

They accepted a $500,000 offer from Robert, Lori, and Kevin for a 15% ownership in the company, bringing the total valuation to $3.3 million.

Who are the Competitor of Aira?

Powermat, Ossia, and WiTricity are among Aira’s key competitors.

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Aira FAQS

Can Aira only charge phones?

The company can charge any connected device that has a Qi-compatible wireless charging technology (for instance, wireless headphones, smart watches, wireless speakers, etc.).

How can they charge multiple devices on the same pad?

Aira’s technology allows for the simultaneous charging of many devices on the pad without the need for a “sweet spot” setup.

Can Aira charge an iPhone X and an Android smartphone?

Yes, Aira can juice a phone and any USB-C-compatible devices (for instance, laptops, accessories).

What is their wireless charging method?

Who are the founders of Aira?

The Company was founded in 2017 by Eric Goodchild and Jake Slatnik.

Who are the investors of Aira?

Aira has received investments from the Sharks in season 11 episode 3: Robert Herjavec, Lori Greiner and Kevin O’Leary. Also, Aira announced a $12 million funding round led by private investors on August 3, 2021.

Who much was Aira seeking in the Shark Tank?

Aira was seeking $500,000 investment in return for a 7% ownership in the Company.

Where can they buy Aira?

Aira’s charging pads are available for sale on their official website, as well as at Amazon.

How did Robert Herjavec, Lori Greiner and Kevin O’Leary invested in Aira?

They invested $500,000 in return for 15% ownership in Aira.

What happened to Aira after the Shark Tank?