SmartPlate Shark Tank Net Worth 2023
Martin entered Shark Tank in search of $1 million in exchange for a 15% stake in his company, SmartPlate. This equated to an estimated value of $6.6 million.
Although Martin took a risk going into the Shark Tank, it paid off; as of 2023, SmartPlate is still up and running and selling its product as a subscription.
By 2022, SmartPlate proved to be successful and its net worth was above $1 million. The investment that Martin requested from the Sharks was justified by the success achieved by his innovative product.
What is SmartPlate?
SmartPlate is a cutting-edge device that utilizes image recognition technology to identify, weigh, and analyze food. For those who are looking for an alternative to manually counting calories, this device is an ideal solution.
Professional athletes and coaches rely on it because it provides accurate measurements of calories, carbs, protein, fat, salt, and other nutritional variables. SmartPlate is a unique plate that can analyze everything you eat, from single foods to mixed dishes, using its food recognition technology.
The device uses a camera, a weight sensor, and algorithms to evaluate the meal’s nutritional value. SmartPlate was initially funded through a successful Kickstarter campaign in May 2015, raising $110,000 to complete the tooling for manufacturing.
Fitbit users can sync their data with SmartPlate to obtain a comprehensive view of their calorie intake and expenditure. Anthony Ortiz, the creator of SmartPlate, designed the plate after his father became ill and had to undergo triple bypass surgery.
Ortiz’s father’s doctor suggested that he could have avoided the surgery if he had eaten healthier and been more active. This prompted Ortiz to start reading health books, and Dr. Colin Campbell’s The China Study inspired the initial concept for SmartPlate.
According to Campbell, a good diet is essential for optimal health. Anthony Ortiz is the founder of SmartPlate.
What happen to SmartPlate at the Shark Tank Pitch?
Martin appeared on Shark Tank with the aim of securing $1 million in exchange for a 15% stake in his company, SmartPlate, which he valued at $6.6 million.
During his pitch, Martin emphasized that while many individuals strive to maintain a healthy lifestyle, calorie counting is time-consuming and often unreliable. SmartPlate, on the other hand, uses food and weight sensors to provide instant nutritional information about the food on a person’s plate.
Although Martin distributed prototypes to the Sharks, their reactions were less than enthusiastic. Mr. Wonderful questioned how the device distinguishes between different oils, to which Martin replied that it cannot, but it can identify different ingredients.
Daymond expressed concern that the plate would not be able to analyze certain foods like “street meat” without barcodes, but Martin reassured him that it could.
The Sharks were also skeptical about the technology and the price point, causing Daymond, Kevin, Mark, and Sacca to ultimately reject the pitch. Barbara also expressed dissatisfaction with the pitch, leading her to pass as well. Despite not receiving any investment, Martin remains convinced in the effectiveness of his product.
SmartPlate after the Shark Tank Pitch
After appearing on Shark Tank, SmartPlate CEO Anthony Ortiz announced that the company had raised $1.2 million and had formed partnerships with Bed Bath & Beyond, Jet, and Target.
The SmartPlate is available in three colors: Pearl Black, Ocean Purple, and Arctic White.
Ortiz acknowledged that Dell’Arciprete had left the company but denied Dell’Arciprete’s assertions, which were reported in Philadelphia Magazine, that he was fired due to a poor presentation.
Despite the setback of losing their marketing head, the creators of SmartPlate persevered and successfully launched an Indiegogo campaign in January 2017.
Starting in November 2021, the company will offer the plates through a subscription model, with a cost of $149 for the plate plus $29 per month for the accompanying app, or a yearly membership fee of $348 that includes a free plate.
SmartPlate Net Worth
Martin enters Shark Tank in search of $1 million in exchange for a 15% stake in SmartPlate. This equates to a $6.6 million value.
SmartPlate Competitors
Anova culinary, Thermoworks are some of the competitors
SmartPlate FAQS
What is SmartPlate?
SmartPlate is a device that identifies, weighs, and analyses food using picture recognition technology.
Dieters can use it as an alternative to manual calorie counting.
It gives precise measures of calories, carbs, protein, fat, salt, and other variables.
Who is the founder of SmartPlate?
Anthony Ortiz.
How was he asking in the Shark Tank Pitch?
He was asking $1 million in exchange for 15% stake.
Did he get a deal from the Shark Tank?
No one gave him a deal.
Is SmartPlate effective?
Yes, SmartPlate works by automatically recognizing, weighing, and analysing their food consumption, giving them a complete picture of their child’s eating habits.
How much does SmartPlate cost?
As of February 2021, when customers join up for an annual SmartPlate PRO subscription, the SmartPlate Device is free. The membership fee is $29 per month, or $348 per year.
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How do they contact SmartPlate customer service?
Customer assistance for SmartPlate may be reached by email at [email protected] Additionally, they can phone (844) 438-3485.
Can they return SmartPlate?
The SmartPlate comes with a one-year limited product warranty and a 30-day money-back guarantee.
Can SmartPlate analyse restaurant meals?
Over 90% of restaurant chains in the United States are included in the SmartPlate database.
Where can they buy SmartPlate?
SmartPlate may be ordered directly from their website.
Is SmartPlate compatible with other health programs and devices?
Yes, SmartPlate is compatible with the following applications: Apple Health, WHOOP, and FitBit.
Can they purchase SmartPlate on a payment plan?
SmartPlate teamed with Sezzle, a provider of online payment plans, to give clients “four $87 interest-free payments.”
Is Smart Plate successful?
There is even an indication that sounds when they eat too quickly. Fitly’s SmartPlate was launched in May 2015 following a successful Kickstarter campaign.
They raised $110,000 to complete the tooling for manufacture.
Who is the owner of Smart Plate?
Ortiz, Anthony.
What is the size of the SmartPlate device?
Three very exact food scales and three SmartPlate trays combine to produce a white, ten-inch surface area that eliminates “portion distortion” and assists customers in developing healthy eating habits.
What is the maximum weight of food that the SmartPlate gadget can hold?
The SmartPlate is capable of holding up to 3,000 grams (nearly six pounds) at a time.
Can they take SmartPlate on the go?
Yes, SmartPlate comes with a portable cover that acts as a food container, allowing users to keep the plate in their luggage for later use.
How do they clean their SmartPlate?
The white SmartPlate trays are BPA/BPS free, nonstick, and heat resistant, as well as microwave and dishwasher safe.
The electrical base, on the other hand, should NEVER be microwaved.
How does instant food recognition work?
Their techniques make use of Artificial Intelligence to create the most accurate food detector available.
Say goodbye to time-consuming, annoying, and incorrect manual calorie counting applications.
What if they lack access to a smartphone?
This device requires a smartphone to operate.
Is their information confidential?
They adhere to HIPPA standards, which ensures the security of all personal information. They do not disclose any personally identifiable information to other parties.
How and for how long are their food consumption records stored?
Their server retains data for up to one year.
How does the one-year manufacturer’s warranty work?
They will repair their hardware if it malfunctions or breaks during the first 365 days after purchase (the scale).
Is it possible to purchase new components, plates, or lids?
They are now offering the SmartPlate in its entirety and do not sell separate components.
Is it possible to utilize SmartPlate by more than one person?
Yes. They just need a second app account on their smartphone. As with Netflix, a SmartPlate PRO membership entitles up to five people to access.
What is the net worth of Ortiz, Anthony?
Unknown.
