Local startup lands $500K investment on ‘Shark Tank’

CHARLOTTE, N.C. — Phoozy swam with the sharks and survived.

Kevin Conway and Josh Inglis, co-founders of the Charlotte-based startup, appeared on ABC’s “Shark Tank” on Friday, where they pitched to investors Lori Greiner, Kevin O’Leary, Robert Herjavec, Daymond John and Mark Cuban.

Conway said, after a three-way bidding war between Greiner, O’Leary and Herjavec, they accepted an offer of $500,000 for an 8% stake in the company from Greiner and Herjavec, who decided to invest together.

“Robert and Lori were very passionate about the product,” Conway said. “They liked the fact that we were able to give them real answers to all of their questions ... The way we’ve structured the business from the beginning had a large appeal to them and fit within the wheelhouse of their portfolios.”

The co-founders talked with the Charlotte Business Journal about their experience on the show, how they prepared and what they’ll do with the investment. Read the full story here.