SparkCharge Shark Tank Update

SparkCharge Shark Tank Pitch

Chris Ellis and Josh Aviv appeared on Shark Tank Season 12, Episode 1, which aired on October 16, 2020, with Ultra-fast portable charging unit for electric cars.

SparkCharge is listed in the Accessories Gadgets category. In plain terms, the business is described as Ultra-fast portable charging unit for electric cars.

SparkCharge asked the Sharks for $1,000,000 for 6%, implying a valuation of about $16.7 million.

On the show, SparkCharge made a listed deal with Mark Cuban and Lori Greiner for $1 Million for 10% + 4% advisory shares.

If treated as straight equity, the listed deal works out to about $10 million implied valuation, down from the original $16.7 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

SparkCharge After Shark Tank

SparkCharge accepted the on-air deal with Mark Cuban and Lori Greiner, and later reporting says the deal closed after filming. The business moved beyond selling portable charging hardware and leaned into mobile EV charging as a service. (SparkCharge Shark Tank Update

By November 2021, SparkCharge was reported at about $5 million. In May 2022, the company raised a $23 million Series A round, giving the Shark Tank appearance a much bigger second act than a one-night sales spike in annual revenue. (SparkCharge Shark Tank Update

SparkCharge now markets Charging as a Service for fleets, roadside assistance, and enterprise partners. Its listed customer and partner footprint has included Hertz, Amazon, Lyft, AAA Northeast, and municipal or commercial fleet users that need mobile charging without building fixed stations first. (SparkCharge Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches