LocTote

loctoteAdam McBride and Don Halpern want to lock up a deal for Loctote, an ultra secure backpack/tote that is impervious to slashing and can be locked up to prevent theft. He'll pitch his product in Shark Tank episode 820. Halpern got the inspiration to invent LocTote while vacationing in St. Croix with his family. While he was swimming, he observed someone stealing his wallet. He immediately started looking for a bag he could lock to a stationary object that could hold all his essential items without fear of theft. When he couldn't find anything that suited him, he decided to invent it.

The bags are made with slash resistant fabric used in body armor. There's RIFD blocking technology to prevent credit card skimming. The straps are steel woven to prevent cutting and the whole bag locks to just about anything. It's waterproof too! Despite the tough features, the bags are still soft and stylish looking. As it says on the website, everything about the product is over engineered.

Halpern got the business off the ground with a wildly successful Kickstarter campaign that raised $855,094. They make the bags in New Albany, Ohio. The original bag costs $179, but they have other models in the works. He likely needs cash to grow his inventory and some help getting out to mass retailers. Will a Shark bag this investment?

LocTote Shark Tank Recap

Don and Adam will pitch the panel of five Sharks on the business and its prospects for growth. They’ll need to convince Mark Cuban, Daymond John, Kevin O’Leary, Lori Grenier, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards.” A full pitch re-cap on LocTote will be available on Shark Tank Blog once this episode airs.

LocTote Shark Tank Update

The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on LocTote and Don Halpern & Adam McBride as more details become available.

Posts About LocTote on Shark Tank Blog

Loc Tote – Secure Travel Bags

LocTote Company Information

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