Robert Herjavec and the founders of Lectec On Shark Tank Season 16 (Image Source – Instagram/@sharktankabc)
Highlights
- Lectec is an innovative DIY kit brand that allows consumers to build their own electric skateboards, scooters, and bikes
- Lectec encourages hands-on STEM learning by providing step-by-step assembly guidance, which makes learning and engineering fun.
- Lectec collaborated with several educational institutes and has proudly catered a niche market of its own
| Category | Details |
| Name | Lectec |
| Founder | Jared Ebersole and Luke St Amand |
| Industry | Education & Learning |
| Product | Mechanical Learning Kits |
| Funding | Self-funded |
| Investment Ask | $100K |
| Equity Ask | 10% |
On Shark Tank season 16 episode 11, two bright minds, Jared Ebersole and his business partner Luke St Amand, pitch in for their company, Lectec. A brand that sells build-your-own electric skateboard kits. In a world where fun and learning hardly go hand in hand, these young minds create the most innovative self-assembled kits for kids, which makes learning easy.
Jared Ebersole, the CEO and co-founder of Lectec, comes from Catawissa and graduated from Southern Columbia Area High School in 2019. He described his experience on the show as something truly unbelievable, calling it “surreal.”
He shared that while he and his team always believed in Lectec’s potential, seeing the Sharks react positively to their product felt like an incredible moment of validation for all their hard work.
During their pitch, the duo introduced their RailCore Battery Enclosure System and discuss their plans to integrate a coding feature that will allow users to program LED lights and control different aspects of their electric vehicles.
By 2017, he founded Build Kit Boards and continued running it throughout his college years. However, in 2023, he decided to sell the majority stake in his company so he could fully dedicate himself to Lectec.
Around the same time, his best friend, Luke St. Amand, who had been fascinated with his skateboards since meeting him on campus, decided to leave his engineering job at Amazon to join him full-time.
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What Happened To Lectec on Shark Tank?
Lectec was created with the goal of helping young minds learn about engineering in a fun and engaging way. During the pitch, the owners reveal how this idea came to life when Ebersole gifted his nephew an electric skateboard.
Instead of just riding it, his nephew became curious about how it worked. This inspired Ebersole to develop kits that allow students to assemble their own battery-powered skateboards, scooters, and bikes, turning it into a hands-on STEM learning experience.
To test and refine their kits, Lectec launched a beta program with 50 families in New York City and partnered with Mineola High School to help design the product and curriculum. The company then attended trade shows and improved their kits based on customer feedback, helping them gain traction in the market.
Each Lectec kit comes with step-by-step assembly instructions, all the necessary tools, and high-quality parts to build battery-powered skateboards and scooters. These vehicles can reach speeds of 8-10 mph and can travel up to three miles on a full charge.
Jared explains how during childhood he couldn’t afford to by a 1600$ electric skateboard which eventually motivated him to make this product. His sales numbers impressed the sharks as he revealed how his brand made a revenue of over a million dollars from that company which also helped him pay his way through college.
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Did Lectec’s Pitch Make The Cut To Get A Deal?
Lectec, which sells self-assembled electric skateboard, scooter, and bike kits, had made $146,000 in sales before appearing on Shark Tank. The Sharks were highly interested in the business, with Robert Herjavec showing the most enthusiasm. He praised the product and initially offered $100,000 for a 25% stake in the company.
Meanwhile, Kevin O’Leary also showed interest but leaned toward a royalty deal instead of taking equity. After further negotiations, Robert adjusted his offer to $100,000 for a 15% stake, which Ebersole and St. Amand agreed to.
With that, the Lectec founders successfully secured a deal, marking an exciting new chapter for their company.
See what else is new! View other businesses featured in this episode.
