GUNNAR Optiks Secures $9M Investment on Shark Tank for Blue Light Glasses
GUNNAR Optiks, a company specialising in blue light filtering glasses, recently sought investment on Shark Tank. Founder Joe Croft revealed the company's $1.2 million debt and his 20% ownership during the pitch.
Croft's innovative blue light filter technology, patented and incorporated into various tinted lenses, forms the core of GUNNAR Optiks. The company provides a wide range of frames, catering to different needs such as gaming, computer use, and prescription lenses. These glasses help reduce Digital Eye Strain (DES), minimise glare, and prevent eye dryness.
Lori Greiner agreed to invest $375,000 for 8% equity and a loan of $375,000 at 8% interest. Despite the lack of information about additional investors, it's known that they supported GUNNAR Optiks with a total of $9 million. The company's products are suitable for anyone using screens and concerned about eye health.
GUNNAR Optiks, with its blue light filtering glasses, competes with alternatives like Felix Gray, Moscot, and Foster Grant. The company offers four types of lenses with varying levels of blue light protection, ranging from 35% to 98%. Despite facing debt, GUNNAR Optiks has secured significant investment to expand its marketing efforts.
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