Aira has had a transformative journey since its appearance on Shark Tank. With a renewed vision and unwavering commitment to innovation, FreePower is revolutionizing how we power our devices. Let’s get into its relentless pursuit of pushing the boundaries of wireless charging technology. Here’s the update and net worth of Aira after its appearance on Shark Tank.
Aira Shark Tank Update
When Aira appeared on Shark Tank, the company had ambitious aspirations of securing funding from the Sharks to fuel its growth. However, after the deal closed, it became apparent that only Robert Herjavec remained involved in the company’s funding. Despite this shift, it kept going and underwent a rebranding, emerging as FreePower with a renewed focus and determination.
The company set its sights on penetrating both the automotive and consumer product industries, aiming to revolutionize wireless charging in these sectors. With its rebranding as FreePower, the company solidified its vision and direction. It aimed to redefine how people charge their devices by offering innovative solutions that break the limitations of traditional charging methods.
In this Aira Shark Tank update for 2023, it’s evident that the company’s journey has been one of resilience and adaptability. With its rebranding as FreePower, the company has refined its focus and expanded its horizons to the automotive and consumer product industries. Through its innovative products, strategic partnerships, and recognition at prominent industry events, it is well-positioned to reshape the wireless charging landscape and continue its upward trajectory in the years to come.
Innovative Products and Recognition
Following its Shark Tank appearance, FreePower introduced its first wireless charger, the Nomad Base Station Pro. This groundbreaking product significantly impacted CES in January 2020, receiving an overwhelmingly positive reception. The Nomad Base Station Pro revolutionized wireless charging by offering a convenient and seamless experience, allowing users to charge multiple devices by placing them anywhere on the pad’s surface.
The success of the Nomad Base Station Pro was further recognized when FreePower received the prestigious CES Innovation Awards in 2021 and 2022. These accolades acknowledged the company’s commitment to innovation and pushing the boundaries of wireless charging technology. Winning these awards enhanced its reputation and solidified its market credibility as a leader in the industry.
The recognition received at CES, and the subsequent CES Innovation Awards propelled its growth and success in the wireless charging industry. The Nomad Base Station Pro’s versatility and seamless charging experience resonated with consumers and industry experts. It symbolized FreePower’s dedication to innovation and its vision for a wireless future.
Strategic Acquisitions and Investments
FreePower made a significant step by purchasing the intellectual assets of wireless charging company Spansive in September 2020, enhancing its technological capabilities and strengthening its position in the industry. With this purchase, it gained access to key skills and an understanding of wireless charging technologies and expanded its intellectual property portfolio.
FreePower sought to elevate the performance and functionality of its wireless chargers, aiming to deliver even more effective and seamless charging experiences for consumers. To do this, it intentionally incorporated Spansive’s cutting-edge technology into its product selection, relying on its knowledge to boost the functionality and performance of its wireless charging solutions.
In a significant development, it secured a strategic investment from Motherson Innovations Company Limited in December 2020. This investment not only injected additional financial support into the company but also brought on board a partner with extensive experience in the automotive industry. Motherson’s expertise in automotive parts supply opened doors for collaboration and market expansion, particularly in integrating wireless charging technology into vehicles.
With this partnership, FreePower aims to tap into the growing demand for wireless charging solutions in the automotive sector and explore opportunities to revolutionize how vehicles are powered and charged. Wireless charging technology might offer an easy and effective option for fuelling these cars as the demand for electric vehicles grows.
Diversification and Future Plans
The recognition received by co-founder Jake in Forbes’ “The Next 1000” and “30 under 30 North America 2023” lists is proper evidence of the talent and visionary leadership within FreePower. Jake’s inclusion in these prestigious rankings highlights the company’s commitment to innovation and ability to impact the wireless charging industry significantly. It showcases the depth of expertise and forward-thinking mindset that drives its success.
FreePower’s innovative approach to wireless charging has caught the attention of renowned media publications, solidifying its reputation as a groundbreaking company. Being featured in esteemed publications like Forbes, FastCompany, and TechCrunch further highlights the industry’s recognition of its contributions and advancements. Its inclusion in Fast Company’s list of 2021’s most innovative companies, alongside industry giants like AMD, Samsung, and Apple, positions FreePower as a true trailblazer in wireless charging.
To fuel its ambitious growth plans and continue pushing the boundaries of wireless charging technology, FreePower secured an additional $12 million in a series of seed funding rounds in August 2021. The investment came from notable investors, including sharks Lori Greiner and Robert Herjavec, who recognized the potential and value of its vision.
This infusion of capital will play a crucial role in developing version 2.0 of FreePower’s charging technology, enhancing its performance and expanding its capabilities. Moreover, the funding will support its exploration of new applications beyond standalone charging pads, as it aims to integrate wireless charging into various vessels such as furniture and automobiles. This strategic diversification will bring the convenience and efficiency of wireless power to different aspects of consumers’ lives, further solidifying the brand’s position as an industry leader and innovator.
Since its Shark Tank appearance, Aira transformed into FreePower and has continued to revolutionize the wireless charging industry. The introduction of the Nomad Base Station Pro and subsequent innovations have earned the company recognition and accolades, including the prestigious CES Innovation Awards. By pushing boundaries and reimagining the possibilities of wireless charging, FreePower is at the forefront of shaping the future of power delivery.
Aira Net Worth
Since its appearance on the show, Aira, now rebranded as Freepower, has experienced an exceptional rise in valuation and financial success. From its initial $3.3 million, the company’s net worth has soared to an estimated $5 million as of 2023. Freepower’s success is not limited to its valuation alone. The company has secured substantial investments totaling over $35.3 million from various sources, including the Sharks.
These investments have not only fueled the company’s economic expansion but have also validated the company’s innovative role in revolutionizing wireless device charging. Its ability to meet the growing demand for wireless charging options and its dedication to continuous innovation have been key factors in its financial success and industry recognition.
Is Aira Still in Business?
Yes, Aira, now under FreePower, is still in business and thriving in the wireless charging industry. The company has undergone a transformational journey since appearing on Shark Tank, securing its place as a significant participant in the industry.
Despite competition from Tesla’s arrival into the market with a comparable wireless charging product, Its anticipated yearly gross sales of about $4 million demonstrate its capacity to seize market share and offer cutting-edge solutions. FreePower has continued to alter the wireless charging environment and maintains its leadership position in the market thanks to its sophisticated modern technologies, strategic alliances, and recognition at important industry events.
Shark Tank Deal
Entrepreneurs Eric Goodchild and Jake Slatnick pitched their wireless charging company, seeking a $500k investment for a 7% equity. They showcased their groundbreaking bipolar Tesla coil technology, emphasizing its potential for licensing opportunities and adaptability to various shapes. Securing their first licensing deal with a major company, which ordered 33,000 units of their wireless charging product, provided solid evidence of market demand.
As the Sharks dug deeper, Eric and Jake disclosed a monthly cash spending of $30,000, increasing to $50,000 after hiring an engineering team. Daymond John chose not to invest due to concerns about the company’s long-term vision. However, Robert Herjavec offered $500k for a 10% equity stake, while Kevin O’Leary and Lori Greiner proposed a $500k loan at 9% interest for a 15% equity stake.
In a bold move, Eric and Jake requested Robert, Lori, and Kevin to collaborate and make a counteroffer of $500k for a 15% equity stake. By leveraging the expertise and resources of multiple Sharks, the entrepreneurs aimed to secure a consolidated deal that would propel Aira’s wireless charging technology to new heights. The outcome of this collaboration remains uncertain, but the potential for its innovative solution to revolutionize the wireless charging industry is undoubtedly intriguing.
What is Aira?
Aira is a wireless charging company. The “FreePower” technology is the brains behind the wireless surface product Aira. The unique feature of this technology is the utilization of a multi-coil array, which powers the whole surface case.
Who is the founder of Aira?
Eric Goodchild is the founder of Aira. He was pivotal in establishing the company and driving its vision of revolutionizing how we power our devices.
When was Aira founded?
Aira was founded in 2015. It was rebranded as Freepower after it appeared in the Shark Tank.