Loliware from Shark Tank

Loliware shark tank

Loliware is an edible cup that is vegan-friendly and does not pollute the environment, which is an interesting idea that many people might find amusing.

Chelsea Briganti and Leigh Ann are the founders of the company, who developed their product called Loliware, which is highly durable and vegan-friendly, allowing you to eat your cup after drinking from it.

The cup is made from biodegradable gelatin, which was invented by the couple as an alternative to plastic cups.

They believed the scope for their cups was huge due to the need to replace plastic cups altogether.

You can find billions of tons of plastic waste on landfill sites every year, which significantly impacts the environment.

In 2011, the couple managed to raise some funds on Kickstarter and renamed their product from Jelloware to Loliware.

They received 60,000 USD in additional funding and managed to deliver 600 cups as one of the first orders.

Eventually, they got approached by Absolut Vodka, who placed an order for 60,000 cups, which led the women to believe they had struck a gold mine and quickly became more enthused with their product.

The cups are available in different colors, sizes, and flavors, which is a pretty enticing product for many people who are curious about edible cups.

The products can last at least 3 months and can hold drinks for a full day without falling apart.

Chelsea and Leigh Ann plan to introduce a new line of tableware to expand their business and create products that the public will utilize well.

Since there are many types of ingredients the cups are made from, like seaweed, organic sweeteners, organic fruits, and vegetables, people are jumping at the opportunity to buy the products.

You can make cocktails, sweets, and cereals using the cup, which means they can be utilized for drinking and eating purposes; a cup and bowl hybrid.

They eventually appeared on Shark Tank, where they pitched their idea to the sharks and asked for 150,000 USD in funding for a 15% stake in the company.

The sharks were impressed by the products and tried sipping from the cups, and found them to be delicious.

The cups cost the couple 97 cents to make, which they sell for 1.5 USD.

They told the sharks if they managed to get mass orders, they could reduce the price even further.

Eventually, Mark and Barbara make an offer of 600,000 USD for a 25% stake in the company, which the couple agrees to.

Our Review of Loliware

Loliware is an excellent idea that seeks to replace the production of plastic cups altogether and has been doing quite well since getting recognition from Shark Tank.

Due to the biodegradable nature of the cups, there is a broad audience that is interested in the products, resulting in a bunch of sales soon after their debut on Shark Tank.

They eventually got approached by DSM, a nutrition firm highly interested in Loliware, and struck a deal with them to expand their business.

Many specialist cup ideas have also been in development, such as the electrolyte, energy, and protein cups, which are for a specific demographic.

There are also many other possibilities of the technology, and the couple hoped to expand their products to parties and other events to make them more accessible to the general public.

However, Loliware seems to not be in business anymore, with the couple abandoning their project.

The supporters have grown restless due to the slow manufacturing process, and many months have passed where the company hasn’t provided any updates at all.

In 2020, they received funding of 6 million USD from Hatzimemos, which allowed them to make more products.

However, the company has said they’ve changed its focus to appeal to enterprises instead of selling directly to the public.

Pros of Loliware

There are many pros to Loliware, which are described below.

  • The cups are delicious and can be used for cocktails and desserts, which is a fun experience for many who want to try something new and exciting.
  • The cups are biodegradable and a better alternative to plastic cups, which is an environmentally friendly option.
  • There are many flavors and sizes to choose from, which has further propelled the company’s popularity.

Cons of Loliware

Some cons to Loliware need to be kept in mind, which are described below.

  • Loliware products are not as cheap as regular cups, which might deter some people from buying.
  • Their manufacturing process resulted in unsatisfied backers, who were disappointed by the failure to mass-produce Loliware products.

Who is Loliware For?

Loliware cups can be used by just about anyone who wishes to enjoy a tasty cup after sipping their beverages.

They are also excellent products that appeal to people who are environmentally aware and like to minimize their footprints on planet Earth.

Are There Any Alternatives?

You can expect to find regular cups if you are not into consuming your cups after use and don’t have much regard for the environment.

The business idea is fairly unique, with no other competitor producing similar products to Loliware.

Having an edible cup is a new and exciting idea that many have been curious about, especially since the company has marketed its products as something everyone should have in their homes.

You can also use the cups at social and formal events, which is another market the company has managed to capture.

Our Final Thoughts

Loliware is a promising idea that is fairly unique and appeals to a large audience, with many people lining up for the product release.

Their manufacturing process could have been better, which has been a major letdown for investors and backers of the company.

If Chelsea and Leigh Ann continue to make moves toward their goals, they will likely be able to revive their company and make many sales.

The sharks were quite enthusiastic about the products, which is surprising because all of them are not usually on board to invest in most business ideas.