Napwell Sleep Mask Shark Tank Net Worth Update

Napwell Sleep Mask Shark Tank Net Worth Update

Napwell is a sleep mask that simulates a sunrise to reduce “sleep inertia” and wake up feeling less groggy. It was featured on Shark Tank in February 2015, with a business valuation of $1 million(net worth of $1M). The company successfully raised over $50,000 through a Kickstarter campaign 40 days later

The company’s valuation was $1 million when it appeared on Shark Tank based on a $100,000 offer in exchange for 10% of the firm.

However, the company went out of business within a year after its appearance on Shark Tank and its current net worth as of 2023 is unknown.

What is Napwell Sleep Mask? Who Founded Napwell Sleep Mask?

The Napwell Sleep Mask is a unique sleeping mask with integrated LED lights and an alarm clock that gradually wakes up the wearer. The mask is made from soft materials that gently hug the face, allowing for uninterrupted REM sleep

. It also features a detachable insert that houses the electronic components, making the rest of the mask washable for long-term use. The Napwell can be used for both naps and nighttime sleep.

The Napwell Sleep Mask was invented by two individuals, Justin Lee and Neil Joglekar, in 2012. Neil was an experienced entrepreneur who had previously founded two successful businesses, Cardinal Tutors and Reelsurfer.

Justin, on the other hand, had a bachelor’s degree in physics and biology from MIT and was a doctoral candidate in a combined Harvard-MIT program in health, science, and technology.

The two came together to create a product that would help people live more efficient and productive lives, starting with the problem of variables that impair the efficiency and seeking out a solution.

After research, they found that the primary hindrance to efficiency for most people was a lack of sleep and abrupt awakening, resulting in sleep inertia.

This led to the conceptualization of the Napwell sleeping mask. The product was successfully funded on Kickstarter in 2014, raising over $51,000 on a $30,000 goal.

Napwell Sleep Mask Shark Tank Pitch

In their Shark Tank pitch in Season 6, Episode 15, Neil and Justin sought $100,000 for a 10% stake in their company, representing a $1 million valuation. They wanted to help people optimize their naps using light to aid in biometric identification.

Neil distributed prototypes, explaining that the mask’s alarm can be set to the user’s desired wake hour and can be worn for a quick nap or the entire night.

During the pitch, Robert and Daymond tried on the mask, while Lori sought clarification. Mark thought the duo could easily obtain venture capital funding and was out, while Kevin pointed out their lack of marketing and that the product seemed too expensive.

Lori didn’t make an offer, and Robert chastised them for cramming too much into a sleep mask. Daymond declined to invest, and the duo left the show without a deal.

Neil later worked as Head of Product at CrossLead, while Justin pursued a doctorate in medical engineering and medical physics from Harvard-Division MIT’s of Health Sciences and Technology.

Napwell Sleep Mask Net Worth

Neil and Justin appear on Shark Tank in search of $100,000 in exchange for 10% of their firm. This represents a $1 million value.

However, the company went out of business within a year after its appearance on Shark Tank and its current net worth as of 2023 is unknown.

Napwell Sleep Mask Competitors

There is competitor identified for Napwell Sleep Mask.

Napwell Sleep Mask Shark Tank Update

Napwell Sleep Mask appeared on Shark Tank in Season 6, Episode 15, seeking $100,000 for a 10% stake in their business.

The mask was designed to help people take daytime naps by integrating gradual, timed lights into the mask that allow the user to sleep well during the day and then gently wake up. The mask also had an alarm that could be set to the preferred waking time.

However, the sharks had a hard time figuring out how to deliver the message to consumers about how the product works. Mark Cuban did not invest in the product.

Since appearing on Shark Tank, Napwell has faced delays in providing masks to customers who backed their original Kickstarter campaign.

As of May 30th, 2016, the Napwell team was still promising those backers awaiting their masks that the final run of 550 masks would be delivered sometime in July 2016.

The company has achieved very little since appearing on Shark Tank. In fact, the company had gone out of business before their show ever aired.

Neil Joglekar, one of the inventors of the Napwell Sleep Mask, has been hired as Head of Product at CrossLead, a cloud-based software start-up founded in 2011 by General (Ret.) Stanley McChrystal.

Napwell Sleep Mask summary:

INFORMATION	DETAILS
Product	Napwell Sleep Mask
Founders	Justin Lee and Neil Joglekar
Product Description	A sleep mask that simulates a sunrise to reduce “sleep inertia”
Appearance on Shark Tank	Season 6, Episode 15
Amount Sought on Shark Tank	$100,000 for a 10% stake in the company
Valuation on Shark Tank	$1 million
Shark Tank Deal Outcome	No deal
Kickstarter Campaign Outcome	Successfully raised over $51,000
Company Status	Went out of business within a year of appearing on Shark Tank
Competitors	None identified

 

Napwell Sleep Mask FAQS

What were Napwell Sleep Mask?

Napwell Sleep Mask is a sleep mask that uses light to help users wake up more naturally.

The mask comes with an alarm clock that can be programmed to wake them up within the 10-minute window around their ideal time, helping them feel less groggy in the morning and more alert throughout the day.

Who were the founders of Napwell Sleep Mask?

Napwell Sleep Mask was launched in 2013 by entrepreneur Justin Lee and Stanford graduate Neil Joglekar, who is now an employee at CrossLead.

What Is The Technology Behind The Napwell Sleeping Mask?

The Napwell sleeping mask is designed to help users nap and wake up more refreshed. It includes a programmable sleep timer and low-profile lighting system that mimics a sunrise to facilitate a gentle wake-up.

The mask is ergonomically designed to block out surrounding light like most sleep masks. The technology behind the Napwell sleeping mask is intended to reduce “sleep inertia,” which is the grogginess and disorientation that can occur after waking up from a nap. The mask was invented by two highly educated former students from MIT and Stanford

How Does The Napwell Sleeping Mask Work?

The Napwell sleeping mask is designed to help people wake up gradually and feel refreshed after taking a quick nap.

The mask mimics the sunrise by gradually increasing the light inside the mask, which helps the wearer move from deep sleep to a lighter stage of sleep.

The mask is ergonomically designed and blocks out surrounding light like most sleep masks, but also includes a programmable sleep timer and low-profile lighting system to facilitate a gentle wake-up. The Napwell helps people nap more efficiently and have more productive lives.

To use the Napwell sleeping mask, users set the amount of time they want to nap for using a hands-on button on the front of the battery-powered mask, place it onto their face, and then simply doze off.

The mask is designed to then wake the wearer gradually with increasing light. The Napwell is powered by a battery that lasts up to one year before needing to be replaced.

The mask is designed to avoid sleep inertia, which is the feeling of grogginess and disorientation that people often experience after waking up from a nap.

What Is The Battery Life Of The Napwell Mask?

The Napwell sleeping mask is battery operated and does not require WiFi, Bluetooth, or a smartphone to work. However, the exact battery life of the mask is not specified in the search results.

The mask is designed to wake the user up gradually, avoiding abrupt wake-ups from deep sleep and reducing sleep inertia.

Users can set the amount of time they want to nap for using a hands-on button on the front of the mask.

The mask is ergonomically designed to block out surrounding light like most sleep masks, but also includes a programmable sleep timer and low-profile lighting system to facilitate a gentle wake-up.”

Did Any Of The Sharks Invest In Napwell Sleep Mask?

No, none of the sharks invested in Napwell Sleep Mask during their pitch on Shark Tank Season 6. The entrepreneurs, Neil Joglekar and Justin Lee, were seeking $100,000 for 10% equity, but no deal was made. The company went out of business within a year after its appearance on Shark Tank.

What Happened To The Company After Appearing On Shark Tank?

According to the provided search results, the Napwell Sleep Mask was not successful after appearing on Shark Tank.

The entrepreneurs, Neil Joglekar and Justin Lee, were seeking $100,000 for 10% equity, but no deal was made. The company went out of business before their show ever aired.

There have been delays in providing Napwell masks to those customers who backed the original Kickstarter campaign.

The final run of 550 masks was promised to be delivered sometime in July 2016. The whole Napwell business has the feeling of one that is being unsuccessful.

What Is The Current Status Of Napwell’s Business?

The company went out of business before their show ever aired, the entrepreneurs, Neil Joglekar and Justin Lee, did not receive a deal from the sharks during their pitch on Shark Tank.

The company went out of business before their show ever aired. There have been delays in providing Napwell masks to those customers who backed the original Kickstarter campaign.

The final run of 550 masks was promised to be delivered sometime in July 2016.

The whole Napwell business has the feeling of one that is being unsuccessful. The current net worth of the company as of 2023 is unknown.

How much were they seeking in the Shark Tank?

The entrepreneurs seek $100,000 in exchange for 10% of their business.

How much did they received from the Shark Tank?

They failed to secure an investment from the Sharks

How much money did Napwell Sleep Mask raise from Kickstarter?

The pair raise over $51,000 on a $30,000 goal.

How much were Napwell Sleep Mask retail for?

They were retailing it for $100.

Is the Napwell Mask itself durable?

The Napwell is “durable” in the sense that nothing should break if they roll on it while sleeping.

They’ve tested this on a modest scale thus far, but will scale this with the help of their Uber-early and Beta testers (and make design tweaks as necessary).

Is Napwell machine-washable?

While they cannot promise this, it has been a common request and is something they were investigating.

What materials were Napwell Sleep Mask made of?

Napwell was crafted from silky soft materials that hug the face softly while providing room for the eyes.

Were Napwell Mask User Friendly?

They are very user friendly, with easy-to-follow instructions.

What were the Napwell Sleep Mask competitors?

There is no direct competitor identified for Napwell Sleep Mask.

Where were Napwell Mask manufactured?

The Napwell was manufactured in the USA.