Unikey tells TechCrunch that they’ve had tens of thousands of sign-ups since appearing on Shark Tank. However, there’s a form on the company’s website to reserve a spot in the pre-order line and you may want to put your name down. The Unikey is not yet available for purchase or pre-order. A standard key still works with the system, too. Plus, the company promises a robust user management system allowing owners to quickly grant and deny access to other phones - there’s even a scheduling system to allow access during only specific times. With Unikey, a paired phone simply needs to be next to the door to gain access. This led Dumas to develop Unikey as a more reliable and convenient system. ![]() There are a lot of points for potential failure. ![]() As we’ve probably all experienced, biometric security is anything but foolproof. This was after one of the show’s other sharks, Robert Herjavec offered $1,000,000 for a whopping 75% of the company.Īs Dumas explained on the show, his background is in biometric security and while at Sequiam Corp, helped launch the first mass-market biometric residential deadbolt. “As long as I’m in range of the lock, I can control it,” said Unikey founder and CEO Phil Dumas on the show.Ĭuban and O’Leary were rather enthusiastic about the company and Dumas accepted $500,000 in exchange for two seats on the company’s board and a 40% equity stake. The system is not dependent on an app, but rather the system unlocks the door by simply detecting when the phone is in the immediate vicinity. Once the Unikey locking system is installed in a door, any paired Android, iOS, or BlackBerry device can unlock it. The amount appears to be in addition to a $500,000 equity stake raised from Mark Cuban and Kevin O’Leary earlier this year on the season finale of the program. You can find the other company updates from Season 10 Episode 18 here:ĭon’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.Unikey Technologies, a company made known by ABC’s Shark Tank for technology that turns your smartphone into a universal door key, has raised $1.1 million according to an SEC filing. The company’s website highlights a collection of different purposes for their extensive catalog of smart locks and there’s no doubt that the sharks may have missed out on a significant opportunity to invest in Haven Lock during Season 10. The company has continued to grow and still operates today. The Haven Lock update allows us to take a closer look at how Alex and Clay have operated their business since appearing on Shark Tank. Daymond admitted that he was interested but wasn’t sure if his offer would be fair enough for Alex and Clay to consider.Īlex and Clay ultimately wouldn’t receive a deal on this episode of Shark Tank, but let’s see how the company is doing now with a quick Haven Lock update. Lori Greiner believed that the company was in too early of a stage to invest, so she also dropped out, leaving only Daymond John to potentially make an offer to Haven Lock. Barbara Corcoran and Mark Cuban also dropped out for similar reasons. Kevin O’Leary decided that he wasn’t interested in making an investment and was the first shark to drop out of the negotiations. The company had already raised more than $1 million with a debt of about $500,000 in cash. The bluetooth-supported version costs about $340 for a customer to purchase and has a product margin of 55%, according to Alex and Clay.Īt the time of the pitch, the company had only recently reached the $250,000 gross revenue milestone, with most of the sales coming from the Haven Lock website. The mechanical lock costs just under $70 to manufacture and is sold online for about $180. ![]() Entrepreneurs: Alex Bertelli and Clay BanksĪfter an entertaining demonstration of the company’s smart lock products for households, Alex and Clay were ready to negotiate with the sharks for their company, Haven Lock. ![]() The company pitch would have to be fairly impressive to convince the sharks to invest, but let’s see if owners, Alex Bertelli and Clay Banks were able to secure a deal in the tank before we take a look at the Haven Lock update. The company was seeking an investment of $500,000 for 6% equity. Haven Lock, an innovative smart door lock company, was featured on Season 10 Episode 18 of Shark Tank.
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