Revolights is a set of LED lights that attach to the front and back wheel rims of bicycles, giving greater visibility at night on the road. The inventor of Revolights, Kent Frankovich, pitched his business on Shark Tank in 2014. He was able to raise $200,000 via a Kickstarter campaign and started to sell his Revolights online. Although Mark Cuban accused Frankovich of “screwing with the Sharks” -- not believing Frankovich was ready to make a deal -- Frankovich did make a deal with Robert Herjavec -- $300,000 for 10 percent. (Frankovich came in asking for $150k for 10 percent.)
[On Amazon: Revolights City 700c Fixed Gear Bicycle Wheels]
After Shark Tank, Frankovich raised an additional $1 million from a handful of investment companies including Sierra Angels and Sacramento Angels. Revolights are sold on the company website and on Amazon for under $200.
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