Woosh Smart Air Filter is a smart product that is designed to monitor air quality. It works as an HVAC system and helps filter indoor air. For better results, it should be installed at a point from where the air flows into the house.
Woosh was founded by Winston Mok who pitched his product on episode 4 of Shark Tank season 14. He asked for $500,000 for 10% equity in his company. It means he valuated his company at $5 million. That said, let’s find out what sharks feel about this product.
Shark Tank Woosh Update
- Entrepreneurs: Winston Mok
- Business: Smart Air Filters
- Ask: $500,000 for 10% equity
- Result: $500,000 for 10% equity and $0.50 cent royalty
- Sharks: Kevin O’Leary
Woosh smart air filters come with a two-way design, including an air filter and a frame. Additionally, it is equipped with sensors that connect to Wi-Fi. It notifies the user when it times to replace the filter. This new air filter is then sent by the company via mail.
After the pitch, Kevin O’Leary expressed his dissatisfaction with the company’s valuation. This is when Winston revealed that his business was in the pre-revenue stage. The sharks were visibly upset about the fact that Winston demanded such a large sum of money for a pre-revenue company.
However, Winston saved his grace by passing the information about his partnership with Emerson, a company that is interested to use Woosh air filters with their smart thermostat. He also revealed that the price of the entire package is around $99 while the replacement filter is priced at $20.
After hearing all the details about Woosh, Kevin O’Leary offered him a deal of $500,000 in exchange for 15% equity and $0.50 royalty in perpetuity.
Daymond John and Robert Herjavec left the deal as they were not interested to make an offer. The same path was followed by Lori Greiner. So it was only Kevin O’Leary who offered a deal to Winston.
After listening to Kevin, Winston countered him with 10% equity and $0.59 royalty. Surprisingly, Kevin agreed to it and the deal was finalized between them.
Woosh received a lot of visitors on their official website after broadcasting the Shark Tank episode. In 2022, the company took part in the TechCrunch Disrupt 2022 event. By August 2023, the company sold out all the smart air filters.
As you all know Woosh is a startup company. It is a newly established business that requires heavy investment to survive, at least in the initial stage.
Kevin O’Leary proved to be a good partner. But some believe that he is very strict. However, he does have good knowledge about running a business.
Based on the company’s reports, the estimated net worth is $200,000. They are currently planning to launch new products and expand the business.
The innovative Woosh air filters were featured by many big publications including NonWovens, Tech Startups, Business Wire, Business Times, and many more.
The company performed testing in North America to collect feedback from users, based on which they will improve the product.