Highlights
- Nootrobox offers a range of nootropic supplements designed to enhance memory, stamina, and mental clarity, including their popular Go Cubes, a chewable coffee product.
- The founders sought $2 million for 5% equity, but the Sharks were not convinced due to concerns over valuation and long-term health effects.
- Post show, Nootrobox, rebranded as HVMN, has continued to thrive with $4 million in annual revenue by 2022.
Overview
| Category | Details |
|---|---|
| Name | Nootrobox (rebranded as HVMN) |
| Founders | Michael Brandt, Geoffrey Woo |
| Industry | Nootropic Supplements |
| Product | Cognitive-enhancing supplements and chewable coffee |
| Funding | $2 million |
| Investment Ask | $2 million |
| Equity Offered | 5% |
| Valuation | $40 million (pre-deal) |
Michael Brandt and Geoffrey Woo want to biohack the Shark Tank when they pitch Nootrobox, their line of nootropic supplements, in Shark Tank episode 807. Nootropics, according to the Nootrobox website “are a broad classification of cognition-enhancing compounds that produce minimal side effects and are suitable for long-term use. These compounds include those occurring in nature or already produced by the human body (such as neurotransmitters), and their synthetic analogs.” In other words, they’re supplements that make you more mentally alert.
Woo and Brandt co-founded the company in 2014. They’re both Stanford graduates with computer science degrees. They sell several products. Rise is a supplement that gives you enhanced memory, stamina, and resilience. Kado-3 is an omega 3 supplement that offers daily protection for brain and body. Sprint gives you a boost for immediate clarity, energy, and flow when you have a long day ahead of you. Yawn is a sleep enhancer to help with falling asleep, improving quality of sleep, and feeling refreshed upon waking up.
The product that got Nootrobox noticed is their Go Cubes chewable coffee. They claim is gives you the same caffeine boost as a cup of coffee, without the jittery feeling. All their supplements are designated by the FDA as GRAS (Generally Regarded As Safe) and/or acceptable as a dietary supplement compound. A bottle of supplements has a one month supply and costs $39-$49. A full month supply of each supplement is $121. The Go Cubes cost $39 for 20 packets containing 4 cubes each.
Nootrobox likely needs a Shark to help them with distribution. Will a Shark biohack this business and invest?
NootroBox Shark Tank Recap
Michael and Geoffrey enter seeking $2 million for 5% of the company. The Sharks are floored by the $40 million valuation – the highest in Shark Tank history! The Sharks don’t “get” the products either.
Did Nootrobox Get A Deal?
Chris Sacca has concerns about the long-term health effects and he goes out. Lori thinks they need a better salesperson; she’s out. Kevin won’t pay $2 million for sugar cubes; he’s out. Robert thinks they didn’t do a good job explaining themselves; he’s out. Mark thinks the valuation is ridiculous and he’s out too. NO DEAL!
NootroBox Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The company is still in business, selling under the brand HVMN (pronounced “human”). They boast over $3 million in annual sales and they introduced Ketone, a ketone ester energy drink. They’ve raised over $2.5 million from investors and appear to be gaining momentum.
As of May, 2022, the company is still in business with revenues of $4 million annually.
Posts About NootroBox on Shark Tank Blog
Chewable Coffee & Nootropic Supplements
NootroBox Company Information
Video
More products from this episode! Check out other businesses that participated alongside Nootrobox.
