Shark Tank is known for the kind of technological products that it gives rise to. Aira is just another one of these products. When it comes to the tech world, there are too many competitors. Especially in a country like America, with the likes of companies like Apple and Samsung, it can be challenging to find products that compete with the standards of research and funding that these companies have.
Aira is a wireless charging solution that the duo of Jake Slatnick and Eric Goodchild came up with. Wireless charging is all the rage now, and Jake and Eric seem to follow the trend. The thing that sets Aira apart is the fact that they have also partnered with another company called Nomad so that they can bring the product back to life. The two also seem to have quite a compatible background with what they’re hoping to sell.
Jake has worked as an entrepreneur before. He has companies that have introduced menswear and a business for a hacky sack. He’s also put some effort into the tech world, where he worked on a wireless contact exchange app. Eric, however, has an extensive background in technology and so it makes sense that the two would be able to come out with a product like Aira. The duo’s company is still a start-up as they haven’t been able to build their product. They want to fund from a Shark to take the next step with their company.
Now that we know their plan, let’s look into how the pitch went for the company and the product.
Eric and Jake join the Sharks in the tank. They start by discussing that they’re looking for $500,000 for 7%. They then talk about their backgrounds and how they came up with the idea for Aira. Eric is the tech brains behind the product, as we mentioned before. He said that he has a degree in electrical engineering and works in the field. He has also worked on too many projects where some or others work in electrical embedded systems. Eric also talks about his other business, which deals with Engineering. He mentions that he designs high-voltage stage and theatrical effects for all kinds of museums and educational exhibits. He also notes that he has a Guinness World Record for the strongest bi-polar Tesla Coil in his name.
They also talked about the fact that both of them have come up with a company called Nomad so that they could build Aira to life. Nomad is a lifestyle brand, and they primarily work on providing phone cases to individuals who want them. They also brought the product because they think wireless charging is the way forward. They have also acknowledged that there are pads with a specific spot that makes it easy for them to charge these products. However, they want to ensure that Aira isn’t like one of these products.
The Sharks seem impressed by the duo and the giant Tesla coil they brought to show the Sharks. They also think that the technology is complete and there. However, they feel like the company is entirely burning its funds. They have a $30,000 burn rate which seems like it’s quite a problem for the Sharks. However, their fears quell when the entrepreneurs inform them they have a current ask of 33,000 units.
Once they end this conversation, the Sharks start a bidding war for those who want to be a part of the company. Kevin, Robert, and Lori all come out with offers. However, the entrepreneurs tell them that they should team up, which they do. The deal is $500,000 for 15%.
Our Review of Aira
Wireless charging has transformed quite a bit since that episode’s airing. Companies like Apple and Samsung have come up with their own wireless chargers. That being said, let’s look at the pros and cons of the Aira product.
Pros of Aira
- It is Efficient. You won’t have to worry about charging things with wires. Air provides a wireless solution that is one of the best in the market.
- It’s Sensitive. You don’t have to worry about charging your phone or device using only a specific point. Instead, you can place your widget anywhere on the pad, and it will light it up to show that the pad is charging.
- It is versatile. Aira allows for the charging of all kinds of devices. So it doesn’t just have to be a single device you use. Instead, you can charge all sorts of different devices.
- It allows the charging of multiple devices. You can save a lot of time and electricity because the pad is large enough to charge the devices all at once.
- It is Smart. It does have certain sweet spots that it can activate and give to devices as it allows them to charge in their own time.
Cons of Aira
- You can’t charge an Apple Watch using this device, so you would need the magnetic charger that apple issues for it.
- You also might have some trouble trying to charge AirPods with the device.
- It can be pretty expensive, and thus, there might be some issues with it.
Are There Any Alternatives?
Yes, there are several alternatives. Samsung and Apple have pads that charge their devices. However, very few companies do it as great as Aira. There is some buzz about a company called mophie which has released a pad that allows for the consistent charging of devices. However, this, too, has its cons.
Our Final Thoughts
We think Aira is one of the best products to come out of Shark Tank. It has managed to compete with Tech giants like Apple and Samsung and somehow beat them at their own game. It’s commendable that the technology used is patented, and it is all in line for efficiency. It is an expensive solution which is why it may not be accessible to everyone.