PHOOZY, maker of lightweight protective thermal capsules for phones, tablets, and laptops, landed a lucrative $500,000 investment on their recent April 2nd Shark Tank appearance on ABC. The Charlotte-based brand co-founded by Kevin Conway and Josh Inglis, wowed all of the investors but ultimately landed a deal with Lori Greiner and Robert Herjavec.
“Going into the tank is every bit as intense as you can imagine,” Commented Kevin Conway, Co-founder, PHOOZY. “While we were very prepared and confident in our product, you never know what can happen with the investors. It was very thrilling to have both Robert and Lori really understand our product, our mission, and our brand and want to invest in us.”
“What a surreal experience! We knew our numbers going into the tank and felt prepared, but you never know what the sharks will throw at you. Receiving multiple offers from the sharks and landing a deal with Lori and Robert is an entrepreneur’s dream-come-true. Now the real work begins.” said Inglis.
The duo was inspired to create PHOOZY Thermal Capsules after getting frustrated with their phones overheating or going overboard while out on the water. After conducting research they both realized that there were no products available on the market that would provide protection from the elements while also being easily accessible. Conway, a professional race car driver tapped into the technology used to protect drivers and astronauts from extreme temperatures and created PHOOZY.
Conway and Inglis presented both the phone and tablet thermal capsules to the Sharks: the Apollo, Apollo II, and the XP3. All feature PHOOZY’s patented Chromium Thermal Barrier™ that is adapted from NASA engineered materials. The barrier reflects 90% of the heat of the sun to help prevent devices from overheating, while also insulating devices from battery zapping cold – extending battery life up to 4X. The Impactor Core 1.5 protects devices from drops up to 9-feet, and the fully water-resistant materials and construction float in water.
While Conway and Inglis received multiple offers from the sharks, they agreed to a deal with Herjavec and Greiner which involved a $500,000 investment for 8% equity in PHOOZY. The investors will also receive $1.50 per unit until the $500,000 is paid back. Both Conway and Inglis are extremely pleased with the outcome of the appearance.
“Robert is an incredible entrepreneur that can add invaluable insight to help us scale and he shares my passion for racing and fast cars. Lori is the “Queen of QVC” and a brilliant entrepreneur with tremendous success in retail. For us, they are the perfect sharks!” said Conway
For more information about PHOOZY visit PHOOZY.com.
PHOOZY empowers technology users to pursue their passions and epic adventures without worry of environmental limitations. PHOOZY products provide thermal, drop and float protection (and now antimicrobial protection) for smartphones, tablets, laptops, and accessories. PHOOZY is dedicated to inspiring its customers to live an active lifestyle fueled by their passions and thirst for adventure without limitations. PHOOZY products are available at REI, Amazon, local outdoor / snow / surf shops, and other leading retailers throughout the United States, Europe, and Australia. U.S. Patent 10669090, and multiple U.S. and foreign patents pending.