Shark Tank Pitch

ilumi Shark Tank Update

Published:

3m

Dallas, TX

ilumi Shark Tank Update

Pitch Overview
Nameilumi
Main PresentersCorey Egan and Swapnil Bora
Presenter Image
ilumi Entrepreneurs: Corey Egan and Swapnil Bora
Product Image
ilumi Product Image
Last Known in Business1/1/2018
Main Location

Dallas, TX

Order Shown in Episode1
Final DealOffer made from sharks

ilumi Shark Tank Pitch

Corey Egan and Swapnil Bora were classmates at the University of Texas - Dallas when they had the idea for a light bulb that could be color controlled by an app via Bluetooth. They created ilumi and are in the final stages of development.

Corey and Swapnil are seeking to enter a production phase and aim to be shipping products by the end of the year. The lightbulbs sell for $289 for a three-pack.

Barbara and Lori don't see ilumi doing well against traditional $2 lights and light switches. Robert, Kevin, and Mark each make competing offers. Corey and Swapnil almost lose the deal with Mark by hesitating but ultimately close a deal with him.

Offers

Made ByLabelSharks Part of DealSummary
CompanyOffered$350k for 15% of company
SharksOutBarbara CorcoranOut
SharksOutLori GreinerOut
SharksOfferedRobert Herjavec$350k for 35% of company
SharksDealMark Cuban$350k for 25% of company
SharksOutMark CubanOut
SharksOfferedKevin O'Leary$350k for 0% of company and a 15% royalty of all licensing deals
SharksOutRobert HerjavecOut
CompanyOfferedMark Cuban$350k for 20% of company
Mark Cuban
Mark Cuban

Mark Cuban

Offered

Barbara Corcoran
Barbara Corcoran

Barbara Corcoran

Out

Kevin O'Leary
Kevin O'Leary

Kevin O'Leary

Offered

Lori Greiner
Lori Greiner

Lori Greiner

Out

Robert Herjavec
Robert Herjavec

Robert Herjavec

Out

Updates in Shark Tank Episodes

Update SeasonUpdate Episode
No Episode Updates

ilumi After Shark Tank

Corey Egan and Swapnil Bora won $50k at an entrepreneurship competition to get Ilumi started. In 2013 Ilumi raised $145k on Kickstarter and $25k on Indiegogo . In 2015 ilumi raised $365k for a an improved lightbulb on Kickstarter . In 2016 ilumi raised $64k for a striplight on Kickstarter , where the final update was in 2018 from Corey and Swapnil that the strip lights were being shipped out.
Corey did an interview with startups.com in 2016. Corey and the ilumi team believe they were first to market but had a large spark of motivation when a competitor beat them to the punch with a Kickstarter campaign. Corey knew they would have to outcompete them with a better product. One way to improve was building their Bluetooth connectivity systems in-house under MeshTek, which took over as the company's identity.

In season 7, Mark visited Corey and Swapnil at CES Las Vegas, where they showed off Ilumi. We got an update that ilumi did over $2 million in sales since Shark Tank. They redid their app and have become a more general-purpose Bluetooth technology company. Ilumi became available in many stores, such as Brookstone and Best Buy.

Ilumi's website, ilumi.co , appears to have little changed since 2017, though bulbs can still be purchased in 2023. Ilumi's Facebook and Twitter, @ilumisolutions , have not posted since 2018 as of 2023.
According to a 2019 article by prweb.com , Swapnil took over Ilumi as CEO, and they rebranded to MeshTek to better describe the overall Bluetooth category they were after. Mark gave a testimonial that Swapnil would do a good job building a Bluetooth electronics company.
According to Corey Egan's LinkedIn , he left Ilumi in 2018 and became a product manager at Meta / Facebook in 2020 and continues to do so as of 2023. According to Swapnil Bora's LinkedIn , he is the CEO of Meshtek / ilumi as of 2023. It's unclear how up to date Meshtek's website, meshtek.com , is as of 2023, but it appears to sell Bluetooth electronic parts.

Join the Newsletter

Stay up to date on the latest news and updates occuring in the Shark Tank world.

Join the Newsletter

Stay up to date on the latest news and updates occuring in the Shark Tank world.

icon
Powered byContibase