Anne Wojcicki, founder and CEO of 23andMe, joined Daymond John, Lori Greiner, Mark Cuban, and Kevin O’Leary in the Shark Tank to evaluate three growing businesses for investment opportunities. UnBuckleMe, Tanoshi, Proven Skincare, and Van Robotics all came to the Shark Tank to try to catch the eye of one of the Sharks in hopes of landing an investor and strategic partner that could help them take their business to the next level.

Only two of these businesses ultimately leave the Shark Tank with a partnership with the Sharks.

Key Takeaways: Latest Shark Tank Episde

  • UnBuckleMe: Partnered with Lori Greiner and Mark Cuban for $100,000 in exchange for 20% equity to expand their child seat unbuckling tool.
  • Tanoshi: Secured a $500,000 investment from Daymond John for 20% equity, aiming to make affordable laptops for kids more accessible.
  • Proven Skincare: Left the Tank without a deal despite leveraging AI and science to create personalized skincare products due to competition concerns.
  • Van Robotics: Struggled to secure an investment for their AI-based educational robot tutor, ultimately leaving the Tank without a deal.

UnBuckleMe Lands a Deal With Two Sharks

Becca Davison was joined in the Shark Tank by her infant daughter and her mother, Barb Heilman, to showcase her business, UnBuckleMe.

This simple, yet innovative product helps to unbuckle child safety seats with less pressure which is beneficial for those with arthritis, other medical conditions, and those that don’t have enough strength in their hands to apply the necessary pressure to successfully unbuckle the seat. Because it takes 9 pounds of pressure to unbuckle a car seat, many people with underlying conditions are not able to easily unbuckle their children and grandchildren from their car seats.

Becca and Barb developed and patented UnBuckleMe to solve this problem and are seeking a Shark that is willing to invest $100,000 in exchange for 10% equity in UnBuckleMe.

The Sharks all love Becca and Barb as entrepreneurs and are impressed by their knowledge of their market and the business’ financial information.

All five of the Sharks were interested in investing in UnBuckleMe, which is very unusual in the Shark Tank. Anne Wojcicki and Kevin O’Leary teamed up to offer $100,000 in exchange for 10% equity as well as a $0.50 royalty until they make $250,000 and then the royalty would go away, leaving only the shared equity. Mark Cuban and Lori Greiner partnered up to offer UnBuckleMe $100,000 in exchange for 20% equity.

Finally, Daymond John also extended an offer to Barb and Becca for $100,000 in exchange for 15% equity. UnBuckleMe decided to partner with Mark and Lori and accepted their offer.

Tanoshi Snags a Deal With Daymond John

Greg Smith, Lisa Love, and Brad Johnston came to the Shark Tank to pitch their technology company for kids, Tanoshi, in hopes of landing a partnership deal that can help them expand their social mission.

Proficiency with technical skills such as typing and software navigation are critical to the success of children in their education and professional careers, however not all children have he same exposure to technology making them more susceptible to fall behind. Tanoshi, a 2-in-1 laptop and tablet with built-in educational and age-appropriate content, is on a mission to make an affordable product that can be utilized by all children, regardless of the financial means of their family.

They are seeking $500,000 in exchange for 8% equity in Tanoshi.

Although the product has brought in over $720,000 in lifetime sales over the 1.5 years Tanoshi has been on the market, the Sharks are concerned about the competition and low profit margins that are typical of the software market.

This is enough to deter most of the Sharks, except Daymond John. Daymond feels a deep connection to their social mission of bringing technology to underprivileged families and because of that decides to make them an offer.

Daymond offers, and they agree to, an investment of $500,000 in exchange for 20% of the company, contingent upon them getting a licensing deal.

Proven Skincare Leaves the Shark Tank Without a Deal

CEO and Co-founder of Proven Skincare, Ming Zhao, came to the Shark Tank to present her company’s AI and scientific approach to providing appropriate skincare regimens to consumers.

Using a brief skin-telligence survey, the scientists at Proven are able to customize a skincare product that takes many factors into consideration including geographical location, UV and pollution exposure.

Their secret weapon, the “Skin Genome”, is a database that takes all available scientific information and delivers novel concepts that allow the scientists at Proven to make an informed and technological approach to customizing skincare for each individual.

The Sharks are very concerned with the amount of competition in this space.

They know there are other companies that are doing very similar things to Proven Skincare and they are often approached by those companies to invest. Another concern is the amount of education that would need to occur in the market to have consumers truly understand what makes Proven Skincare different from the many other companies that are trying to do the same thing.

The Sharks are also concerned that they have many other investors and their valuation is very high in comparison with their sales. With all things considered, the Sharks decline to invest in Proven Skincare.

Van Robotics Strikes Out in the Shark Tank

Laura Boccanfuso, founder and CEO of Van Robotics, has created a product designed to engage students and encourage learning in a new way. Van Robotics has created a smart robot tutor, ABii, which uses an AI approach to teaching young learners math concepts.

Because only 25% of US students test proficient in math after 12th grade, Laura decided to create a robot that could help kids improve their math skills during the critical academic years of 2nd through 5th grades.

Van Robotics has developed a way to tracks performance and attention to adapt every lesson for every child.

Although this innovative way of tutoring is changing the way that kids are learning, the Sharks are concerned about her business model of targeting schools.

Several of the Sharks have had past business dealing where they have tried to break into the academic space and have found it very challenging and time-consuming. Because this is a new and relatively unproven technology, they are concerned that it will be even more challenging to sell into schools, making it very difficult to regain their investment and profit off of this partnership.

The Sharks ultimately declined to extend an offer to Van Robotics.

Wrapping Up

What did you think of the businesses showcased on this episode of Shark Tank?

If you were a Shark, which of these businesses would you have been willing to invest in? Do you feel that Sharks had any missed opportunities with the businesses they didn’t partner with? Begin the discussion in the comments below!

Latest Update:

  • UnBuckleMe continues to grow its market, now available in large retailers and online stores, helping parents and caregivers.
  • Tanoshi has expanded its affordable tech offerings and partnered with more educational institutions, still focusing on bridging the tech gap.
  • Proven Skincare remains active with its AI-driven customization approach, growing its customer base through online marketing.
  • Van Robotics is working on refining its educational technology and exploring new ways to partner with schools and institutions.