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Loliware Net Worth 2022: What Is a New Version of the Shark Tank for Loliware?

Drinking cups that are disposable and edible are sold by Loliware. In the ocean, these cups are edible and biodegradable, so they break down into smaller pieces. Coral reefs benefit from the release of sweet raspberry stem cells when the cup is drunk.

Loliware Net Worth 2022

Surfer and co-founder Chelsea Briganti from Hawaii is well-versed in the dangers of plastic pollution because she sees it every day while out on the water.

A New Version of the Shark Tank for Loliware

The Sharks will take a bite out of Loliware, an edible cup line designed by Chelsea Briganti and Leigh Ann Tucker, on episode 702 of Shark Tank. In 2010, after graduating from the Parsons School of Design, the couple participated in a Jell-O contest. You can eat after drinking from Loliware — a cup that is both environmentally and vegan friendly.

The duo coined the term “biodegradable” to describe their innovation as a “biodegradable” alternative to plastic cups because gelatin is both edible and biodegradable. They hope that Loliware will help to minimize the countless tons of plastic that are being dumped in landfills.

Initially referred to as “Jelloware,” the new product drew a lot of attention. They renamed the device Loliware in 2011 after raising $10,000 on Kickstarter.

AOL ordered 600 cups for the 2012 Adweek Brand Genius Awards, and they received an extra $60,000 in angel finance from the Harlem incubator Hot Bread Kitchen. As soon as Absolut Vodka approached them about ordering 60,000 cups for a concert, the women knew they had hit gold.

It’s hard to tell the difference between these and regular fruit roll-ups, but they look and taste like plastic cups. Holding a beverage for up to 24 hours, Loliware cups can be stored in the refrigerator for up to three months. To go along with the cups, the company plans to launch a line of tableware, too. Numerous praises and helpful counsel were bestowed on Leigh Ann and Chelsea at the event. They took first place in the “pitch slam” competition at the Natural Products Expo in March 2015.

However, despite the prestige of the event, they were only given “goods and services,” not money. In an interview following their victory in the pitch competition, the finalists stated that they were still looking for investors. Additionally, Marcus Lemonis appeared on CNBC’s The Biz Fixes alongside the pair. Prioritizing biodegradability and gradually incorporating flavours was a directive given by Lemonis.

What Exactly Is Loliware?

Loliware is a disposable cup that entirely decomposes after being used. This edible cup is both tasty and entertaining in the manner of Charlie and the Chocolate Factory.

You can get them flavoured with Matcha Green Tea or Yuzu Citrus or Tart Cherry or Vanilla Bean using seaweed and organic sweeteners, organic fruits and vegetables and other natural ingredients.

On Shark Tank, Loliware Edible Cups Were Featured

Almost anything that can fit in a cup, from drinks to chocolates to cereal, works well in these cups. Keep a watch out for Loliware’s edible dinnerware and packaging as well.

Bioplastics business Loliware was determined to reduce plastic pollution by producing the world’s first edible drinking cup. Their edible cups were designed to serve beverages and desserts during parties, and they come in a variety of tastes to match any meal.

As a seaweed-based material company, they are now working to lessen our reliance on single-use plastic goods like straws, cups and other items that end up as litter, in landfills or even worse, floating in the ocean. Reusable 24-hour single-use gadgets that are biodegradable in 60 days are manufactured by them.

Loliware Was Founded by Who?

Co-founder Chelsea Briganti, a Hawaiian surfer, is well versed in plastic’s negative impact on the ocean, and she knows it better than anybody.

Thus, Leigh Ann Tucker, a fellow student, founded Loliware (whom she met at the same New York school). Their roles as corporate directors have not changed. With hotels, theme parks, and event planners, the corporation has secured exclusive distribution rights through investment agreements and high-profile endorsements (including Oprah Winfrey).

In the future, the company plans to expand its product line and improve existing concepts at stadiums, fast-food restaurants, and other venues. In 2010, shortly after both females graduated from New York’s Parsons School of Design, the company’s concept began to take shape. They entered a contest to design a drinking cup that was disposable, edible, and biodegradable.

As a result, they started receiving requests from eco-friendly businesses. To help with prototype design and production, they were able to raise $10,000 on Kickstarter. When Oprah Winfrey aired her “50 Things That Make You Go Wow!” broadcast in 2013, it featured on the list. In 2015, after a few years of testing and development, the site became live. Three months later, she had sold $110,000 worth of merchandise.

Shortly after that, they were contacted by an important New York-based event management company. Having a chance to sign a $1 million deal They were on the lookout for financial backers who might assist them in growing the company and meeting the growing demand for high production.

Before Shark Tank: LoliWare

In the past, several food entrepreneurs have participated in Shark Tank.

Loliware Net Worth 2022

The sharks have seen a lot of inventive ways to serve old dishes and a lot of different ways to store food, but Loliware merged the two, operating as both an innovative cuisine and an intelligent food storage solution. In New York City’s Parsons School of Design, Chelsea Briganti met Leigh Ann Tucker, a native of Honolulu, Hawaii. Since then, the two have competed for their distinctive creations in the Jell-O competitions they entered after graduating in 2010.

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They were enthused about the environment and environmentally friendly methods. Using only 100 per cent biodegradable materials, they united their excitement and inventiveness to produce an edible, single-use drinking cup.

On Shark Tank, Loliware Edible Cups Were Featured

As a result of their concept’s success, the duo attracted attention from major retailers and the beverage sector. The crowd-funding community rose to the plate when they brought their ideas to Kickstarter to turn them into a natural product. Chelsea and Leigh Ann were ready to begin the production process in January 2011 when they hit the $10,000 mark.

According to the company’s motto, the finished product was made from semi-transparent, sturdy enough to drink from plant-based gelatin that was also vegan-friendly and entirely biodegradable. By early 2015, the Loliware company was up and running. The cup’s innovative design and environmental advantages rapidly drew in corporate buyers.

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Commercial and environmental media have hailed Loliware as a groundbreaking development for the environment and creative designers alike.

How Would You Rate LoliWare’s Shark Tank Presentation?

It’s a cup that you can use to drink from, but it’s disposable. It’s free of gelatin, non-GMO, and organic.

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The biodegradable material is made from sustainable seaweed and may be used to make dinnerware and packaging because it is 100 per cent natural.

Conclusion

Net Worth of LoliWare in 2022

Before the year 2022, LoliWare shut down its operations. But they’ve gotten a lot of money in the meanwhile.

Loliware Net Worth 2022

For a quarter stake in the shark tank, you’ll pay $600,000. From 1083 Kickstarter backers and more than $73,000 from Indiegogo backers, Loliware raised more than $49,000 at the end of January 2018.

A million dollars was made in 2017 despite low sales and unfavourable feedback from customers.

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