Da Vinci Eye App Shark Tank Update
The Da Vinci Eye app appeared on Shark Tank as a tool for artists seeking creative freedom. Developed by Samuel Gherman, the app utilizes augmented reality to simplify the art creation process.
It allows users to project visual references onto any surface, enabling them to create hyper-realistic artwork with ease.
In March 2024, Da Vinci Eye appeared on ABC’s Shark Tank seeking an investment of $350,000 for 5% equity in the company. They presented their suite of mobile apps to the investors, demonstrating how the technology enables artists to seamlessly project reference images onto any surface to trace or transfer onto their artwork.
While the Sharks recognized the apps’ creative potential, they expressed concerns regarding Da Vinci Eye’s sales growth and ability to defend against competition. After much discussion, the founders exited the Tank without securing a deal. However, the exposure from the show generated significant interest in their products.
On the heels of their Shark Tank appearance, Da Vinci Eye completed a seed funding round in April 2023, raising $500,000 from a venture capital firm focused on arts and technology startups. These funds have allowed them to accelerate product development and marketing efforts.
While the app garnered attention on the show, it did not secure a deal from the Sharks.
Despite this, it continues to be available for artists looking to enhance their drawing and sketching abilities.
About Da Vinci Eye App
Da Vinci Eye, a groundbreaking art projector mobile app, has been making waves since its inception in 2018 by Sam Gherman. This innovative application, designed to revolutionize the way artists create art, has garnered attention for its unique approach to integrating technology with traditional artistic practices.
In 2024, Da Vinci Eye made a significant appearance on Shark Tank Season 15, seeking to secure funding and expand its reach within the art and technology communities
Da Vinci Eye’s Funding Amount and Investors
Sam Gherman, the founder of Da Vinci Eye, appeared on Shark Tank Season 15 Episode 16, asking the sharks for $350,000 in exchange for 5% equity in his company valuing it at $7 million.
The outcome of this pitch, including whether Da Vinci Eye not securing the investment the app garnered attention on the show, it did not secure a deal from the Sharks.
Despite this, it continues to be available for artists looking to enhance their drawing and sketching abilities.
However, the appearance on Shark Tank itself signifies the company’s ambition to grow and attract significant investment to scale its operations.
Da Vinci Eye’s Company Growth
Since its launch, Da Vinci Eye has shown promising growth, with its net worth estimated at $0.2 million as of early 2024.
The company has achieved an estimated lifetime worth in sales of $1 million, demonstrating the app’s popularity and the demand for innovative art tools.
Despite facing challenges in sustaining its business model, especially with the emergence of technologies like Apple’s Vision-Pro, Da Vinci Eye remains in business, focusing on growth and innovation
In 2021, Da Vinci Eye reported sales of $890,000, followed by $860,000 in 2022. The company then shifted to a subscription model in 2023, charging $19.99 per year for the basic software, AR Art Projector, which led to a significant increase in revenue, approximately one and a half times from its sales the previous year.
This strategic pivot to a subscription model highlights Da Vinci Eye’s adaptability and commitment to finding sustainable revenue streams.
Da Vinci Eye’s Product Features
Da Vinci Eye is an augmented reality (AR) art projector app that allows users to project reference photos onto various surfaces for tracing and image transfer.
The app is available for iOS, Android, and visionOS, catering to a wide range of devices and user preferences. Key features of Da Vinci Eye include:
- Photo Layers: Separates images into layers by color value for easier compositional breakdowns.
- Drawing Tutorials: Converts photos into step-by-step interactive drawing lessons.
- Editing Tools: Offers filters, zoom, and strobe modes to adjust projected images.
- Inspiration Gallery: Provides user-uploaded reference images to spark ideas.
- Time-Lapse Recording: Captures the artistic process from start to finish
Additionally, Da Vinci Eye offers specialized apps like Mural Maker and Doodle Grid for iOS users, further expanding its suite of tools for artists.
Conclusion
Da Vinci Eye’s appearance on Shark Tank Season 15 marks a significant milestone in the company’s journey. With its innovative approach to merging technology with art, Da Vinci Eye has demonstrated substantial growth and adaptability in a competitive market.
The company’s shift to a subscription model and continuous development of new features and specialized apps underscore its commitment to providing valuable tools for artists worldwide.
As Da Vinci Eye continues to evolve, it remains a key player in the intersection of art and technology, offering creative solutions that empower artists to explore new horizons.
