How The SMART Tire Company Fared Post Shark Tank Season 13
In 2021, the SMART Tire Company, founded by entrepreneurs Brian Yennie and Earl Cole, appeared on Season 13 of Shark Tank. Their goal was to innovate the bicycle tire industry with tires that are puncture-proof and never flat. Despite impressing the audience with their vision, they did not secure any investment from the panel of “sharks.”
SMART Tire’s Unique Offering
The SMART Tire uses Shape Memory Alloy Radial Technology, which is derived from NASA technology. These tires do not rely on air, eliminating the risk of punctures. They also promise enhanced grip, easy repairability, and reduced environmental waste compared to conventional tires.
Shark Tank Experience
During their pitch, Yennie and Cole sought a $500,000 investment in exchange for a 2.5% equity stake. Before their appearance on the show, they had raised over $1 million through WeFunder. Interestingly, the sharks expressed concerns about high production costs of up to $200 per tire while proposing a retail price of up to $3,000, which they deemed too expensive for individual consumers.
Post-Shark Tank Developments
Despite not securing a deal, SMART Tire has continued to progress. They raised an additional $80,000 through StartEngine after their Shark Tank episode aired. In 2023, the company gained recognition with a TIME Best Invention Award and two CES Innovation Awards.
Future Plans
- SMART Tire plans to launch its bicycle tires in 2026.
- Future offerings will include rover and automotive tires.
- Partnerships with NASA Glenn Research Center, Felt Bicycles, Spin, and Hyundai Motor Group are in place.
While the company’s social media presence appears quiet with limited recent activity, it indicates ongoing work behind the scenes. The LinkedIn page shows 3,000 followers, with the company operating with a small team of 2-10 employees.
Conclusion
SMART Tire’s journey illustrates that success does not solely rely on securing investment on shark shows. Their innovative approach and recognition in the industry suggest that they are poised for future success. Observers will be watching closely to see the release of their products in 2026.
