Aira Wireless Charging Pad Before Shark Tank
Aira is a free-positioned wireless charger that was built by Eric Goodchild and Jake Slatnick. Wireless chargers were already in the market but they came with many problems. The first problem is that the contemporary wireless charger was very position sensitive. Any slight change in position would lead to the device not charging.
The Aira wireless charger allows for charging even when the phone is a bit off its position. The charger also allows for multiple phones to be charged which was an improvement from the chargers which only have one. Eric Goodchild was fascinated by tesla coils and has several Guinness World Records for the largest tesla coils ever made.
The Aira charger and its patents were supposed to be licensed out to other manufacturers but it could also be produced as a sole product. Although Aira wireless was off to a great start, the company was not spending enough money monthly for it to grow as Eric and Jake desired. They needed more capital.
The pair reached out to be on Shark Tank and they were invited to be on the 3rd episode of the 11th season.
Aira Wireless Charging Pad on Shark Tank
Eric Good Child and Jake Slatnick went onto Shark Tank seeking $500,000 for 7% of their business giving it a valuation of $7142857. They started their presentation by showing the sharks the problems that people had with wireless chargers and one problem was that they needed the phone to be in a very precise position. If the phone was even slightly off its right position the charging would stop.
They then showed the sharks the Aira Wireless Charging Surface which they said is different from a charging pad because it did not need the phone in a specific position. The charging surface could charge a device when it was in any position and could charge more than one device at a time. They showed this by placing three phones on the charger and they all charged.
Lori asked if they were samples and Jake said that there was one sample that Eric gave out for the sharks to review. Mark then asked if they were shipping the product or if it was still at a prototype stage. Jake said that they had just finished their production prototype and were moving into the prototype phase.
As Eric gave out the sample to be reviewed, Jake said that there was a cosmetic example and an electronic example. Robert then asked them to differentiate the cosmetic example from the electronic example.
Jake then said that they were a licensing company and they would then make the technology and license it out to others. Lori then asked them if anyone could buy this technology from them and brand it for themselves and Jake confirmed that that was their business model.
Kevin then asked if the device could be scaled larger and Eric confirmed that it could. Kevin then asked if he could put an I-pad and 2 phones on it. Jake said that if an I-pad could wirelessly charge it would work. Robert then asked if the technology was available at the time. He also wanted to know the difference between it and his apple charger.
Jake said that wireless charging works just the same. He then showed the sharks how the device worked. He also said that Eric was an expert on Tesla coils. Eric had been in the Guinness World Record book several times for the biggest tesla coil ever made. Eric also had more than 10 years of experience working with them.
Eric then showed them a large tesla coil that he had built while in high school. Mark Cuban then asked him if he was familiar with Ubeam and what Energis was also doing. Eric said that he was not familiar with Ubeam or Energis.
Mark Cuban said that Ubeam and Energis were competitors making the same devices. Mark Cuban then said that he had already invested in Ubeam. He said that Ubeam would distribute energy across a room using sound-based technology. He then said that there was a good chance that they would be leapfrogged and so he was out.
Robert then asked Jake if he had any finished products, licensing offers, or sales. Jake said that he already had a licensing partner and it was one of the largest companies in the space. They had already made an order the previous week for 33,000 pieces.
Robert then asked them why they needed the money. Jake said that they were spending about $30,000 a month and wanted to increase that expenditure to $50,000 a month. This would bulk up their engineering team. It would also make their product get to market on time.
Daymond then left because he didn’t see the vision of the company and things constantly change. Robert then offered them the $500,000 that they wanted for 10%. Lori said that Kevin and she were very impressed with Jake and Eric’s work and they offered a joint deal.
They offered Jake and Eric $500,000 with 9% interest as a loan and they wanted 15% of the company so that Lori would get 7.5% and Kevin would also get 7.5%. They said that would guide the pair through their growth process and help solve their licensing problems because they needed a lot of licensing.
Robert then changed his position and offered them $500,000 for 10% of their business. Lori then said that Kevin and she had changed their offer and they would not offer the $500,000 as a loan but instead as an investment for 15% of the business. Kevin and her would still get 7.5%% each.
Jake then asked if the three sharks would partner and said that they were willing to give Lori, Kevin, and Robert 15% of the company for $515,000. Each shark would get 5% of Aira. All three sharks accepted the offer. As they left, Eric said that he was happy that he had turned 2 options into 1 very good option.
Aira Wireless Charging Pad Now in 2023 – The After Shark Tank Update
Since its partnership with the sharks, Aira has gone on to launch its products and they are available on nomad goods. It has also partnered with Base Station pro which was the first brand to adopt Aira’s proprietary wireless technology. Aira has changed its chief executive and it is now Jawad Ahsan.
Jawad Ahsan had 15 years of experience growing tech companies. He also spent 13 years working at General Electric. Aira also had a second round of investment where it raised $12,000,000. Aira is not very active on social media and it only has an account on Twitter that has less than 300 followers.
The Aira device now also comes with advanced foreign object detection so that only an electronic device can be charged. Aira is currently making an annual revenue of $16,000,000 and has a valuation of $35,000,000. It is located in California and provides the world with groundbreaking technology that’s making life so much easier.