Shark Tank Update
Shark Tank Pitch
ilumi Shark Tank Update
Published:
3m
Dallas, TX
| Name | ilumi |
|---|---|
| Main Presenters | Corey Egan and Swapnil Bora |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2018 |
| Main Location | Dallas, TX Loading Map |
| Order Shown in Episode | 1 |
| Final Deal | Offer 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 By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $350k for 15% of company | |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Offered | Robert Herjavec | $350k for 35% of company |
| Sharks | Deal | Mark Cuban | $350k for 25% of company |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Offered | Kevin O'Leary | $350k for 0% of company and a 15% royalty of all licensing deals |
| Sharks | Out | Robert Herjavec | Out |
| Company | Offered | Mark Cuban | $350k for 20% of company |
Mark Cuban
Offered
Barbara Corcoran
Out
Kevin O'Leary
Offered
Lori Greiner
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update 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 https://www.kickstarter.com/projects/ilumi/ilumi-the-worlds-smartest-lights https://www.indiegogo.com/projects/ilumi-the-world-s-most-intelligent-light-bulbs-continued#/ https://www.kickstarter.com/projects/ilumi/the-new-ilumi-a-better-smartbulb https://www.kickstarter.com/projects/ilumi/new-ilumi-smartstrip/description and $25k on Indiegogo Link Preview
Kickstarter . In 2015 ilumi raised $365k for a an improved lightbulb on Kickstarter Link Preview
Indiegogo . In 2016 ilumi raised $64k for a striplight on Kickstarter Link Preview
Kickstarter , where the final update was in 2018 from Corey and Swapnil that the strip lights were being shipped out.Link Preview
Kickstarter
Corey did an interview with startups.com https://www.startups.com/library/expert-advice/interview-corey-egan-co-founder-ilumi 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.Link Preview
startups.com
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 https://ilumi.co https://www.facebook.com/ilumisolutions https://x.com/ilumisolutions, appears to have little changed since 2017, though bulbs can still be purchased in 2023. Ilumi's Facebook Link Preview
ilumi.co and Twitter, @ilumisolutions Link Preview
Facebook , have not posted since 2018 as of 2023.Link Preview
@ilumisolutions
According to a 2019 article by prweb.com https://www.prweb.com/releases/swapnil_bora_takes_the_helm_at_meshtek_labs/prweb16598139.htm, 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.Link Preview
prweb.com
According to Corey Egan's LinkedIn https://www.linkedin.com/in/egancorey https://www.linkedin.com/in/swapnilbora https://meshtek.com, 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 Link Preview
LinkedIn , he is the CEO of Meshtek / ilumi as of 2023. It's unclear how up to date Meshtek's website, meshtek.com Link Preview
LinkedIn , is as of 2023, but it appears to sell Bluetooth electronic parts.Link Preview
meshtek.com
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