Women Led Chicago Startup LuminAID gets investment from Mark Cuban.
Mark Cuban’s startup portfolio continues to grow. Most of the startup world knows that in addition to the investments the world sees on Shark Tank Cuban is also a very active venture capitalist backing a variety of startups from coast to coast and everywhere in between.
Last year, Cuban backed Chicago startup Pack Back, we had the chance to meet them at Chicago Tech Week in 2013. That company facilitates the peer to peer exchange of used textbooks something that every college student needs in the new “sharing economy”.
Equally, and perhaps more important, Chicago startup LuminAID went before the Shark Tank on Friday night. This company has created emergency lanterns that can blow themselves up and utilize LED lighting for up to 16 hours. The lanterns fold up and can fit in a backpack, purse or pocket providing emergency lighting in a pinch.
LuminAID founded by women rockstar entrepreneurs Anna Stork and Andrea Sreshta created a bidding war amongst all of the sharks, Daymond John, Kevin O’Leary, Lori Greiner and Robert Herjavec all came away empty handed as Mark Cuban was able to secure a deal with the ladies for $200,000 for 15% of the company and an option to infuse another $300,000 in cash later on.
ChicagoInno tracked some of the support LuminAID got Friday evening during the airing of their Shark Tank episode. At one point on Friday evening they were trending on social media at a national level.