Edible Vegan Cups Win Big on Shark Tank!
Chelsea Briganti and Leigh Ann Tucker were inspired to create something to serve as an eco-friendly alternative to plastic. Their passion led them to create Loliware, which was recently featured on ABC’s reality TV series, Shark Tank.
According to the website, Loliware was created as a result of the duo’s concern for the environment and their passion for social innovation:
“Loliware is the first and only edible disposable cup that provides a completely new drinking and eating experience. 100% plastic-free, gelatin-free, BPA-free, non-GMO, all natural, non-toxic, safe, and FDA approved, Loliware cups are made from a biodegr(edible) material so natural you can eat it.”
The cups are available in the flavors Yuzu Citrus, Tart Cherry, Matcha Green Tea, Vanilla Bean and Natural, and are made from seaweed, organic sweeteners and flavors derived from fruits and vegetables.
Briganti and Tucker pitched Loliware to the investors on Shark Tank last week, and received way more than they bargained for. Initially asking for $150,000 in exchange for 10 percent equity, when the “sharks” learned Loliware needed a total of $600,000 in order to reach their goal of $1 million in funding, they decided to invest. Mark Cuban and Barbara Corcoran offered $600,000 for 25 percent equity, which the co-founders accepted.
With this kind of exposure, be prepared to see Loliware cups at your next social gathering–and don’t forget to take a bite!
Photo Credit: http://columnm.com