What Happened to BearTek After Shark Tank?
What is BearTek?
BearTek gloves were designed to allow users to use telephones without having to remove their gloves.
The gloves might be used to remotely manipulate digital devices using different finger gestures, allowing you to converse, make a video, or listen to music without having to remove the gloves.
Athletes and outdoor enthusiasts were among BearTek’s target markets (runners, cyclists, motorsports, snow sports). Willie Blount and Tarik Rodgers are cousins and the developers of BearTek. Rodgers is the CEO in Texas, where BearTek is based, while Blount is in Columbia.
The gloves contain Nano scale sensors that activate a variety of commands. To activate the sensors, tap your thumb on the several touchpads situated along the sides of the glove fingers.
You may answer or hang up the phone, as well as start and stop music, by touching your thumb to a touchpad on the side of your index finger.
Who is the founder of BearTek?
Willie Blount and Tarik Rodgers from Texas founded BearTek, with Blount located in Columbia. Willie is a motorbike enthusiast who wanted a safe way to listen to music on his iPhone while riding, whereas Tarik wanted to use his phone and camera while skiing without having to remove his gloves.
BearTek gloves, which are ski or riding gloves with blue tooth sensors in the left glove hand, were created in collaboration with them.
Touching the thumb and one of the fingers together activates various device controls. All of this is done without removing the gloves, resulting in a more secure and comfortable experience.
Blue tooth modules positioned in a pocket on the wrist allow the gloves to communicate with electronics. There is a smartphone module and a camera module.
Depending on the design and modules included, the gloves range in price from $79 to $250.
The guys sought to gather cash for the project via Kickstarter in 2012, but their efforts were useless. They were able to get the product off the ground with $90,000 and partnership with the Maryland Center for Entrepreneurship.
The products are freely available on Amazon and have quickly become the darlings of the tech/geek/sporting sectors.
What Happened to BearTek’s Pitch on Shark Tank?
Willie Blount and Tarik Rodgers introduce BearTek, their blue tooth gloves that operate cellphones and GoPro cameras, to the Shark Tank military special – Season 7 Episode 10 – Willie and Tarik are on the lookout for a Shark to help them with production and distribution.
Willie and Tarik entered the Shark Tank pitch, seeking for $500,000 in exchange for a 5% stake in their firm, which worth $10 million.
The men like being outside, but they were unable to listen to music while riding their bikes or skiing. According to them, BearTek transforms a glove into a smartphone at their fingers.
They show the glove as the Sharks elevate their hands in mimicry. Their module can control any device from their gloves. They assert that they are more than just a product and ask, “Who is ready to be welcomed by BearTek?”
They illustrate how they work by distributing samples. The gloves include six touch points, each of which outputs a different command; the thumb serves as the primary control, and the module was placed in a pocket behind the glove.
Their present firm sells gloves and modules; the gloves were produced to test the module concept, since they eventually want to be in the module sector.
They sold 1500 apartments in 15 months for a $200,000 profit. Tarik confesses that he put $500,000 towards the company’s start-up.
They believe the firm was worth $10 million because military corporations want to control things with gloves.
A $10 million valuation, according to Robert, needs more than just gloves. Daymond tells the lads, “It’s not working.”
Daymond, after a little pause, expresses his surprise that they are worth $10 million. The men claim that they were willing to spend as high as $32 million.
Kevin claims to have seen helmets with voice activation, while Tarik claims that although voice activation causes mistakes, gloves do not.
Kevin feels the market has passed them by, so he exits.
Mark says he’s out since the risk/reward ratio isn’t right. Daymond exits because he disagrees with the valuation.
Robert was interested in hearing about goods other than gloves; he disagrees with the valuation and does not want to be in the glove sector for $10 million; he also exits.
Lori adores them; she feels they’re bright and have something to offer, but they’re still figuring things out, so she exits as well. Kevin argues that it was their worth that murdered them. Finally, they walked away from the pitch without a deal.
What Happened to BearTek After Shark Tank?
BearTek raised $60,000 through an IndieGoGo campaign without the Sharks’ help. Despite the financial influx, BearTek repaid all backers, and the company’s website went dark in May of 2019. As of January 2022, the gloves were still available on Amazon.
BearTek’s market rivals include BeBop Sensors, Anthro Tronix, Avatar VR, and AugMI labs, among others.
BearTek’s Net Worth
The firm was valued at $10 million during and after the pitch; however, the company had went out of business, thus the company’s net worth is unknown.
Where was BearTek Gloves Made?
BearTek gloves were made in the USA. According to their Kickstarter page, the gloves’ hardware and software is custom-designed in Columbia, Maryland – close to home and near our military labs.
What was BearTek’s Return Policy?
BearTek offered a 30-day return policy on all items, including gloves and modules. The gloves could be returned for a full refund for any reason.
How was the Blue Tooth Gloves Different from Other Bluetooth Gloves?
The Blue Tooth system allowed the wearer to use unlimited devices while wearing BearTek gloves. The module was positioned on the frame inside a pocket in the glove mid-palm and was activated by touching the finger and thumb together.
Were BearTek Gloves Made of Synthetic Leather?
No, their gloves were made of leather for durability and softness.
How Long Did BearTek Gloves Last?
The gloves were said to last for two-plus years. They were exceptionally durable, which is why the company offered a 30-day return policy.
Did BearTek Gloves Fit Small?
The gloves fit a medium to large range of hands and fingers. They also had a wide array of color options for people to choose from for the perfect fit.
Where Did BearTek Gloves Ship From?
BearTek ship all the products from Columbia, Maryland. They have a warehousing company that fulfills their orders for them.
How Did BearTek Gloves Compare to Other Brands?
BearTek gloves could be compared to several other brands, but the difference was that BearTek gloves were also modules, which would allow the wearer to do more with their cellphones and GoPro cameras. The wearer could control any device, similar to that of a regular touchscreen.
Did BearTek Gloves Have a Warranty?
Yes, their gloves had a 30-day warranty for any and all manufacturing defects. The company also offered free replacement units within 30 days of the purchase date.
Were BearTek Gloves Comfortable?
The company described the gloves as very comfortable and easy to put on; they fit like a second skin in all weather conditions.
What Devices Could BearTek Gloves Use?
The gloves could use any Bluetooth device, including smartphones and GoPro cameras.
What Sensors Did BearTek Gloves Have?
BearTek gloves had six sensors inside their touch-sensitive dashboard. The thumb controlled the module, and the rest of the fingers for other functions.
How Much Did BearTek Cost?
The gloves cost $149.99 for a pair. The accompanying module was an additional $99.99, and the company offered a combo package from $79 to $250, depending on the variation of choice.
Did BearTek Gloves Have Temperature Sensors?
No, they did not offer temperature sensors; however, the gloves were meant to be heated and were said to be able to do so by placing the gloves in warm water for 20-30 minutes prior to use in cold climates.
What Colors Did BearTek Offer?
The company offered multiple color options for their gloves, which were white, black, red, navy blue and several shades of grey.
What Size Did BearTek Gloves Come in?
BearTek gloves came in medium to large sizes.