|SEASON 12 EPISODE 21|
|Pitch||self-cleaning water bottle that uses UV light to purify water on the go|
|Asked For||$500,000 for 1%|
|Deal||$1.5 Million for 4%|
|Shark||Kevin O’Leary and Lori Greiner|
What is Larq?
Larq Self-Cleaning Water Bottle is apt for fitness and wellness enthusiasts who need to hydrate often. As suggested in the name, you don’t need to manually wash the bottle, thus eliminating parts that will compromise your water through bacteria buildup. The bottle uses a patented UV-C LED technology to kill 99.99% bacteria and gems.
Who Owns Larq?
Larq Self-Cleaning Water Bottle was befittingly created by Justin Wang, a hiking aficionado. Before founding Larq Bottle, Justin worked at L Capital, where he gained considerable business experience. Justin also worked at Foreo, where he led the company to become one of the leading companies in that industry. Currently, Justin is the CEO of Larq.
Justin Wang was motivated to develop Larq Self-Cleaning Water Bottle after his personal experience with reusable water bottles. He noticed that traditional water bottles would develop a bad odor over time. The odor was the result of bacteria festering on parts of the bottle that were hard to clean. To eliminate this problem he invented the self-cleaning Larq bottle which uses ultraviolet light to reach all crevices.
Adding to his motivation was the incentive to fight pollution. As plastic bottles have become a menace, Larq bottles being reusable, help in the fight against pollution. The product has had great reception owing to its innovative technology.
In 2017, Justin sought funds through crowdsourcing and easily received $1.3 million from backers. The product has also received many awards in honor of its utility and eco-sustainability.
Larq After Shark Tank Update
Did Larq Get a Deal on Shark Tank?
On Shark Tank Season 12 Episode 21, Justin Wang entered the Shark Tank seeking $500,000 for 1% for his self cleaning water bottle business, Larq.
He received several offers from the Sharks and after several counteroffers, Justin accepted an offer of $1.5 Million for 4% from Kevin O’Leary and Lori Greiner.
Is Larq Still in Business?
The self-cleaning water bottle Larq is still in business, with an expanded offering of products. As well as being purchasable online at its website, customers can purchase their products through the various e-commerce platforms or wholesalers worldwide. Co-founder and CEO Justin Wang is still with the company.
Chilly’s Bottled is probably Larq’s biggest competitor. This company from the UK also sells a wide range of reusable water bottles with a proprietary design that helps keep the liquid fresh and cold for long periods.