Inboard Technology makes electric skateboards with the motor hidden in the deck. The 37″ long board is used just like a regular skateboard and can hold a rider who weighs up to 250 lbs. Inboard’s M1 Electric Board can reach 24 mph and go up to 10 miles before needing to recharge the battery (it takes about 90 minutes to charge). The three entrepreneurs behind Inboard Technology, Ryan Evans, Dave Evans and Chris Harley of Santa Cruz, California, pitched the business on Shark Tank in December 2016. They went in seeking $750,000 in exchange for four percent equity. (They had $5.6 million in pre-orders.) They accepted a $750,000 loan from Kevin O’Leary and Lori Greiner at 9 percent interest for four percent equity.
One year after Shark Tank, Inboard raised $8 million in a new round of venture funding led by Upfront Ventures of Los Angeles. Right before the holidays, Inboard’s M1 made it into more than 200 Best Buy stores, and it continues to get great reviews. Electric Skateboard Reviews said the design of the Inboard M1 skateboard is “revolutionary” and followed up with, “We really can’t speak highly enough of this model.” New episodes of Shark Tank air Sundays at 9pm on ABC. [Related: 27 Favorite Shark Tank Products – New List]
