Loliware Shark Tank Updates 2022: What Happened To Edible Cups After Shark Tank Pitch?

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edible cups shark tank

What Is Loliware?

A reusable cup called Loliware entirely disintegrates after being consumed. This edible cup is both fun and tasty in a Charlie and the Chocolate Factory-inspired way. Matcha green tea, Yuzu citrus, tart cherry, and vanilla bean are just a few of the tastes available in these cups, which are produced from seaweed, organic sugars, organic fruits, and organic veggies.

They are perfect for drinks, desserts, cereal, and pretty much anything else that fits in a cup. Additionally, look out for Loliware’s edible packaging and tableware. The goal of the edible bioplastic firm Loliware was to reduce plastic waste and promote sustainability by developing the first edible drinking cup.

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They made edible cups to serve drinks and desserts at gatherings, and they come in a variety of tastes to go with any meal. In order to lessen our reliance on single-use plastic items like straws, cups, and other things that eventually end up as litter, in landfills, or, worse yet, floating in the ocean, they have now refocused as a seaweed-based material company. They produce 24-hour-long, single-use, reusable appliances that decompose entirely in 60 days.

Company Name LoliWare
Founder Leigh Ann Tucker and Chelsea Briganti
Product Edible, biodegradable cups
Investment Seeking $150,000 For 10% equity in LoliWare
Final Deal $600,000 For 25% equity in Loliware
Shark Mark Cuban And Barbara Corcoran
Business Status In Business

 

Who Is the Founder of Loliware?

Chelsea Briganti, a co-founder from Hawaii and avid surfer, is used to coming across trash floating in the water and is the best person to ask about the effects of plastic on our environment. Leigh Ann Tucker, a fellow student, founded Loliware as a result (whom she met at the same New York school).

The two women are still on the board of directors for the company. With hotels, theme parks, and event organizers, the firm secures exclusive distribution rights through investment agreements and well-known endorsements (including Oprah Winfrey). As it expands its product line and enhances current concepts, the company aims to continue offering items to stadiums, fast-food outlets, and other areas.

In 2010, not long after both females received their degrees from the Parsons School of Design in New York, the idea for the business started to take shape. They entered a contest to develop a single-use, eatable, and compostable drinking cup. They started getting queries from environmentally conscious shops as a result of its enormous success. In order to fund the creation of the prototype, they raised $10,000 on Kickstarter.

It was highlighted in the 2013 Oprah Winfrey show “50 Things That Will Make You Go Wow!” The site was launched in 2015 after several years of testing and development. In just three months, she generated revenues of $110,000. A renowned New York-based events company contacted them shortly after that. presenting the chance to sign a lucrative $1 million contract. They looked for investors to aid them in growing the company and meeting the demand for high production.

Shark Tank Before Loli Ware:

Several food-related entrepreneurs have previously made appearances on Shark Tank. The sharks had seen a lot of inventive ways to serve traditional cuisines and a lot of interesting food storage alternatives, but Loliware combined the two and served as both a novel dish and a clever food storage option.

While attending the renowned Parsons School of Design in New York City, Chelsea Briganti, a native of Honolulu, Hawaii, met Leigh Ann Tucker. When the two joined a Jell-O competition in 2010 after graduating, they didn’t make another lovely mold; instead, they came up with something truly original.

They were fervently passionate about the environment and sustainable techniques. They used their inventive skills and their passion to produce an edible disposable drinking cup made entirely of biodegradable materials.

Food-Grade Cups from Loli Ware

Due to the concept’s success over its rivals, the team attracted the attention of major retailers and the beverage industry. They turned to Kickstarter to turn their concepts into a real product, and the crowdsourcing scene stood up to the task.

Chelsea and Leigh Ann were prepared to start setting up the production process once they had reached the $10,000 mark by January 2011. According to the company’s motto, the finished product was made from agar, plant-based gelatin that was semi-transparent, strong enough to be used for drinking, vegan-friendly, and completely biodegradable.

The Loliware company eventually started operations in early 2015, and the cup’s innovative design and environmental advantages rapidly drew the corporate community’s attention. In both commercial and environmental media, Loliware has been hailed as a fantastic development that benefits both the environment and creative designers.

How Did Loli Ware’s Shark Tank Pitch Go?

You can drink from a Loliware cup, which is a disposable cup. It is 100% organic, non-GMO, and gelatin-free. The natural, biodegradable material may be used to make packaging and dinnerware because it is made from sustainably harvested seaweed.

The contemporary cup Loliware is ideal for high-waste occasions like weddings, parties, food fairs, congresses, concerts, outdoor festivals, marathons, etc. Loliware employs organic cane sugar and fruit as sweeteners and comes in a variety of flavors. It is made from organic seaweed and veggies.

The FDA has approved the consumable ingredients, which are totally made of plastic, and free of gluten, BPA, and hazardous substances. With tart cherry, Yuzo citrus, matcha green tea, vanilla bean, and even Loliware, Loliware has a flavor that is evocative of an adult fruit roll-up.

With the use of inventive insulating technology, Loliware can transport chilled beverages, frozen desserts, and liquids that are room temperature or colder. The “food scraps” in the cup will decay in just 60 days, so feel free to sip on a cool beverage after your meal.

Leigh Ann and Chelsea ask for $150K in exchange for 15% of their business when they appear on Shark Tank. Then, while touting their product’s edible nature and saying they want to spark a plastic-free revolution, they eat a cup in front of the Sharks.

The Sharks have sampled cups of unusual drinks and have enjoyed them. It tastes good, says Lori, calling it “adult fruit roll-ups.” They show the Sharks how they make Loliware using vegetable gelatin and disclose that they have obtained a $1.3 million letter of intent from a party supply company.

The women reveal that their cost is 97 cents for a $1.50 cup as they continue to describe their story, but they think that by producing more, they can drop their prices. Up till now, they have given $20K of their own funds and received another $100K from family and friends. They are surrounded by sharks as they speak.

Robert tries to convince Mark to go involved, but Mark says, “DONE!” if another Shark participates in the trade. Barbara and Kevin both want to join. After Lori lays the record right, Barbara declares her desire to enter with Mark. Neither Shark is a problem for Mark. Leigh Ann and Chelsea deliberate about future plans. As soon as Mark and Barbara accept the deal, Robert is no longer involved.

In exchange for a quarter of the business, Mark and Barbara and the Marks and Roberts have each offered $600,000. As a result, Mark and Barbara agreed to exchange $600,000 for a 25% equity stake in Loliware.

How Did Loliware Do After Shark Tank?

Chelsea and Leigh Ann were excited to see that the Sharks were interested in Loliware, and many onlookers agreed. Widespread interest was generated by the Loliware cups’ biodegradable properties, and this interest swiftly led to a useful conclusion.

DSM, a prominent nutrition company, contacted Loliware as a result of the presentation. Another exciting business development happened in July 2016, and they were interested in creating a line of goods using the Loliware technology.

A brand-new product prototype called Lolivita was presented at the IFT Expo in Chicago. Despite the fact that Lolita contains vitamins, it can also be used to give a number of dietary supplements.

The business hopes to work with DSM in the future to create a range of specialty cups, such as an electrolyte cup, an energy cup, and a protein cup. Loliware has the appeal that the cups can easily be altered to appeal to a certain market segment.

Of course, the technology is not simply limited to cups. In an interview at the beginning of 2016, Chelsea talked about potential applications for surgery. She imagines kids’ parties where not just the cups, but also the plates are edible; she asserts that the possibilities for Loliware are practically endless and that the sky is the limit in terms of financial success.

As of 2017, it appears that they are increasing the selection of cups. The company’s upcoming project is the Lilistraw, a compostable and delicious straw. The new product now has a Kickstarter campaign running, with exclusive rewards available at different pledge levels.

On Shark Tank, Did Loliware Secure a Deal?

In Season 7 Episode 2 of Shark Tank, Mark Cuban, and Barbara Corcoran gave $600,000 to Chelsea Briganti and Leigh Ann Tucker in exchange for a 25% stake in their biodegradable plastics firm, Loliware, valued at $2,4 million.

Even though the deal with Barbara wasn’t finalized, Mark continued to contribute.

Loliware: Does It Still Operate?

The company Loliwareware appears to have given up on the idea of selling edible cups because they are no longer available. The company raised $1 million in 2017 despite low sales and unfavorable customer feedback.

In January 2018, Loliware raised over $73,000 on Indiegogo and over $49,000 on Kickstarter with 1083 backers. The company has carefully worked to accomplish its manufacturing goals since receiving finance. However, a significant update has not been made in months, and as a result, Loliware enthusiasts are getting impatient.

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Since making its Shark Tank debut, Loliware has undergone a number of changes. The journey goes from edible cups through edible straws to non-edible straws. An additional $6 million in starting funding was obtained by the business from the New York-based venture capital group Hatzimemos / Libby at the beginning of January 2020.

On the other hand, LoliStraws is not marketed to customers and is no longer up for pre-order. A lot of LoliStraws are being shared on their Instagram page, which has piqued the interest of purchasers and funders. Despite claims to the contrary from Loliware staff, many backers are still dissatisfied.

Since then, the company has claimed that its focus has shifted to selling directly to businesses in order to make a “big impact through rapid adoption at huge numbers.”

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