Larq is a water bottle that cleans itself with UV light. In 2017, we launched our company. This bottle uses PureVisTM technology, which filters out 99% of bio-contaminants like E. coli from the water. After every two puffs, the bottle’s built-in technology activates and disinfects the contents.
This container is superior in every way, including its ingenuity, cleanliness, and usefulness, and its ability to be used repeatedly daily. To ensure that all of the hospital’s operating rooms are sterile, the facility employs Shame Technology. This USB-rechargeable lamp can be used for up to one hundred thousand hours before needing a recharge.
The double-wall vacuum insulation of the LARQ Bottle PureVis keeps beverages hot for up to 12 hours and cold for up to 24. The LARQ Bottle PureVis is available in two sizes and two insulation types (17 oz and 25 oz). The insulated and non-insulated 17-ounce and 25-ounce variants may be purchased for $99 and $118, respectively.
Bottle Filtered and Pitcher PureVis are two other innovative products from this firm. These use Smart Hydration Technology, Nano Zero Technology, and PureVis Technology. The water is purified using cutting-edge technology.
The nano zero filter technology uses a plant-based filter to remove harmful substances from water. Smart Hydration is an instrument for monitoring fluid consumption.
What Is LARQ Water Bottle Net Worth?
The company was valued at $37.5 million when the deal was signed on Shark Tank. This private organization completed its Series A investment round. Recent estimates place Larq’s value between $2 and $4 million.
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Is LARQ Still In Business?
A prosperous business, LARQ, Inc. This firm’s administrative centers are located on the West Coast, specifically in the San Francisco Bay Area and Silicon Valley. Justin Wang and Robert C. Walker are the current co-founders of this company. With their combined efforts, they were able to turn this product into a multi-million dollar enterprise.
LinkedIn reports that 11 and 50 people are engaged in this field. Their approach to advertising the product is brilliant. The blog and the product site are now one seamless entity. They offer products for sale in addition to essays and videos covering topics like water purifiers, traveling, health, and so on.
Pay-per-click advertising is also being used on social media; Larq’s official Instagram account boasts 114,000 followers. The optimistic forecast for Larq’s sales in 2022 is $30 million, and the company will still be operating in December of that year.
How Is the Founder Of LARQ?
Although he was born in China, Justin Wang grew up in San Francisco. During his time as an economics major at UC Berkeley, he spent a little over a year as a research assistant in academia.
Upon graduation, he joined Merriman Capital, Inc. as an associate in the investment banking division. He began working as an investor with L Catterton in Shanghai City, China, in 2010, a position he held for three years.
In 2014, Justin was elevated to vice president of the beauty tech company FOREO, overseeing product management, strategy, and marketing. He became a member of the LELO board of directors in 2016.
LARQ Water Bottle Before Shark Tank
To vent his anger, Justin Wang created the Larq Bottle. Because of his deep concern for the planet, Justin saw that many individuals were using plastic water bottles. A “single-use plastic bottle” is used by most people, which has a devastating effect on the environment. Inspired by this thought, Wang bought a reusable water bottle, only to face several issues.
We do not recommend using a dishwasher on this bottle because it is tough to clean. Everyday cleaning is required to prevent bacteria from growing in the bottle and rendering it unusable. To address this issue, Wang created the Larq bottle, which purifies water and is reusable and self-cleaning.
Wang launched a Kickstarter campaign in 2017 to raise $30,000 for early product development. With the help of 12,758 backers, this campaign raised $1,374,021. The Crunchbase report states that Wang has raised $10.7 million from the 2019 venture capital round and the 2020 Series A investment.
The 2018 edition of the Wall Street Journal’s “50 Winning Presents” features “understated to over-the-top” gifts. The list did indeed feature this bottle. In October 2020, the firm started a second Kickstarter campaign for a different product called LARQ Pitcher, and they collected $771,917 from 6,364 supporters.
LARQ Bottle & Pitcher also ran a successful Indiegogo campaign, which brought in $2,520,031. This UV-C Light Tech Bottle was initially published on Forbes on November 7th, 2017. The product was recognized as a Sustainability and Eco-Design Honoree at the 2019 CES Innovation Awards.
Before 2019, this product was only available in the United States. The company made $1 million in monthly income in the fourth quarter of 2019 thanks to the sale of 75,000 units of the product.
By 2020, the product has partnered with Nordstrom, Net-a-Porter, and Bloomingdale’s to be sold in their stores and at 88 additional locations across 16 countries.
What Happened To LARQ At the Shark Tank Pitch?
The LARQ startup, founded by Justin Wang in 2017, was funded by a successful Kickstarter campaign that raised over a million dollars. Positive feedback from buyers and reviewers led to rapid product adoption and a rise in sales. One of Time magazine’s “Top 10 Smartest Sustainable Products of 2018” lists included LARQ.
The startup successfully crowdfunded the “world’s first self-cleaning bottle” on IndieGoGo and Kickstarter in 2020. They announced a Series A investment round of $10 million in 2020, with Seventure as the lead investor and DCM also participating. Wang appeared on Shark Tank in 2021, asking for $500,000 for a 1% interest in his $50,000,000 company.
He showed the sharks some outstanding revenue numbers, and they were impressed. Wang received several proposals but settled on receiving $1,000,000 from Kevin O’Leary and Lori Greiner in exchange for a 4% interest in the company (with no advisory shares included).
What Happened To LARQ After The Shark Tank Pitch?
Justin considered many proposals from the Sharks before agreeing to a $1 million investment from Kevin O’Leary and Lori Greiner in exchange for a 4% equity ownership in the business. According to reports, the company raised an additional $10 million after the episode of Shark Tank aired.
After Larq’s December 2020 alliance with Daymond Green, a three-time NBA champion, Green became a member of Larq’s team. The self-cleaning water bottle is still one of the company’s offerings and has grown in popularity.
Products can be purchased on the company’s website and from several e-commerce sites and distributors in many countries. Justin Wang, Larq’s co-founder and current CEO is at the helm.
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