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What is Soapen?
Soapen is a colorful, soap-filled pen that allows kids to draw on their hands with soap, encouraging thorough handwashing in a fun and engaging way.
Soapen's Shark Tank Pitch Recap
Amanat Anand and Shubham Issar pitched Soapen, a soap-filled pen designed to make handwashing fun for kids. They sought $100,000 for 10% equity. While the Sharks praised the product's ingenuity and the founders' passion, most expressed concerns about the company's early stage and marketing strategy. Nirav Tolia ultimately offered $100,000 for 10% equity plus a $1 royalty per unit sold until $200,000 is recouped, which the founders accepted.
Who invested in Soapen?
Nirav ToliaSoapen's Pitch Highlights
The founders, Aman and Shabnam, grew up in India and moved to the US to study Industrial Design at Parsons School of Design.
The idea for Soapen came from a UNICEF challenge highlighting the impact of handwashing on child mortality.
Soapen's initial success came from an article in Real Simple magazine, leading to 5,000 units sold in 3 weeks.
The founders had previously raised $225,000 at a $1 million valuation before appearing on Shark Tank.
Soapen Shark Tank Update
- SoaPen expanded its product line to include a children's book titled "Alpy's Soap Adventure."
- The company continues its mission to make handwashing fun for children
- SoaPen is actively involved in handwashing awareness campaigns.
Key Milestones
2015 - Won at UNICEF
Won the UNICEF Wearables for Good Challenge.
2017 - Kickstarter Campaign
Launched a Kickstarter campaign that raised $28,000.
2019 - Official Launch
Officially launched SoaPen in the market.
