Amanat Anand and Shubham Issar grew up in India and moved to the United States to study industrial design.

Through UNICEF, they learned that infant mortality can be reduced through proper handwashing techniques. One out of three children can be saved from catching the most deadly diseases simply through hand washing.

Combining their newfound knowledge with their passion for industrial design, the pair created a colorful, soap-filled pen that allows children to draw on their hands with the soap and then rinse their germs away.

Key Takeaways: Soapen Shark Tank Update

  • Product: Soap-filled pen for children to promote handwashing.
  • Investment Ask: $100,000 for 10% equity.
  • Shark Response: Initially left without a deal, but Nirav Tolia reconsidered and invested $100,000 for 10% equity with a $1 per unit royalty until $200,000 is recouped.
  • Post-Show Success: Soapen continues expanding with Nirav’s support, promoting better hygiene for kids.

Why Did Soapen Come into the Tank?

To reach a broader market and learn how to properly sell their product, Amanat and Shubham are hoping to partner with a Shark willing to both strategically and financially invest in Soapen.

Seeking $100,000 for 10% equity, the pair are hoping to find a mentor that can help them grow the success of Soapen.

Although they are entering the market at the right time and have seen $85,000 in sales since 2018, Soapen is struggling to find and speak to their market. Although all of the Sharks declined to extend them an offer and Amanat and Shubham walked out of the Shark Tank without a deal, one Shark second-guessed themselves as set out to make things right.

As they were completing their final interview segment, Nirav Tolia walked into the room and shared that he felt as though he made a mistake.

He feels that his wife would be a good mentor for them because of her work with Mrs. Meyers Cleaning Products. Nirav offers to invest $100,000 in exchange for 10% equity, however, he also would like a royalty of $1 per unit until he reaches $200,000.

At that point, the royalty will go away and just the 10% equity will remain. They very excitedly accept Nirav’s offer.

Closing Thoughts

What do you think of this deal between Nirav and Soapen? If you were a Shark would you have invested in this business? Do you think the other Sharks missed an opportunity by choosing not to invest? Start the conversation in the comments below!