Phoozy is a company that uses materials from NASA space suits to make cases for different tech products. Kevin Conway and Josh Inglis, the co-founders of this company, were on Shark Tank Season 12 Episode 19 and asked for $500,000 for 10% of the company.
NASA protects astronauts in space environments because it makes suits for them to wear. Kevin comes up with his product using the same method. Premium PHOOZY products protect smartphones, laptops, tablets, etc. from heat, drops, and water.
This is something that everyone has to deal with. Some people like to travel and try new things, etc. In his free time, he goes out to have fun. But somewhere on a hot summer trip, the tech device shuts down because it gets too hot.
If you drop your phone in cold water, it can sometimes be completely ruined. If this happens when there is an emergency, it makes things hard for people. There isn’t a single cover on the market that protects phones, tablets, laptops, and other devices from all kinds of weather.
Phoozy’s cold, heat, and water-proof drop cases are made to solve the same problem. Because of this item, Phoozy made $1.5 million in sales in 2019. The graph of its sales goes straight up. We think that the market really does need this product.
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Phoozy Net Worth
This company makes $4 million each year. After looking at this income, we can tell that Phoozy is worth $2.5 million.
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What Is Phoozy?
Phoozy is a cover that keeps a tech device safe from damage caused by weather and the environment. This business began in Charlotte, North Carolina, in 2016. Simply put, this product protects against heat and cold, it floats, and it protects against falls.
It makes covers to protect phones, laptops, tablets, and other tech accessories that most people use. If your phone is in a place where the temperature is dropping below 32 degrees, it will turn off.
If these thermal capsules are used when the temperature is below 32 degrees, it will take the phone longer to shut down and the battery will last three times longer.
These thermal capsules slow down the damage that weather and the environment can do to a phone. Thermal Capsules are made to meet or beat the Military Standard 810G 516.6 for drops and impacts. This product says it will protect your device from the weather, germs, and drops.
The Drink Can Cover from phoozy is made with NASA material, CoolBase technology, SinkProof technology, and an AntiGravity Handstrap. This company sells on Amazon and on its own website right now. In this, prices for different items have been set based on their size.
Phoozy’s Journey to Shark Tank: How They Got Their Start?
Kevin loves to surf, ride his bike, watch NASCAR, scuba dive, snowboard, and go on outdoor adventures. He does all of these things during the summer and holiday breaks.
When he went on trips outside, etc., his phone would sometimes shut off because it got too hot. Even when he went snowboarding, his phone would freeze because it was too cold. This is a very big problem.
Kevin used to be a NASCAR driver, so he knows that the suits drivers wear can’t catch on fire. He was very upset about how often his phone shut down because of cold, overheating, and drops.
Phoozy Thermal Protection was made to solve this problem. It was used in spacesuits, space shuttles, and race cars. When the first model of this product was made, Kevin talked to his friend Josh Inglis about this business. Both of them thought about taking this business to the next level.
The first thing he made was for a smartphone, and then he slowly started making other accessories. Forbes was the first place to write about this Phoozy thermal case for your phone. In 2019, this product was shown on the Weather Channel.
A website called Phoozy said that during the 2020 Covid19 pandemic, had given $25,000 worth of protective capsules for phones, tablets, and laptops to people who work in hospitals, labs, etc. NASA Spinoff 2020 talked about it. Before Shark Tank, this company was written about in many major publications.
Did Phoozy Sky Rocketed After Shark Tank Appearance?
Phoozy gets a $500 deal on Shark Tank for 8% equity. Lori and Robert are helping the owners of this business grow it. Before Shark Tank, this company was very successful and made a lot of money.
However, they need a professional partner who can help them grow their business around the world. This company was already well-known, and many magazines like Forbes, SKI, Backpacker, Outside, GQ, Wired, and many more had written about its products.
In 2022, they will make different kinds of thermal capsules, like the Quick-Attach Small Accessory Straps, the Phoozy Drink Capsule Can, and the Phoozy 2.8 L Techcapsule & Cross Body Stra. In March 2022, Mo Mitchell, a professional skier, became the face of the Phoozy brand.
Since this company ships to other countries, you can buy this product on Amazon. Josh has a lot of experience with marketing, and after he got money from Shark Tank, he is using it to brand this company.
Marketing is putting more effort into social media because it is a product that will do well with most influencers and social media.
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Is Phoozy Still In Business?
This company’s annual sales are not likely to grow slowly, but new competitors have just joined the market.
Now, if it wants to make money, its product and marketing plan will have to be unique. But they are also competing in other categories to beat their rivals. Their Instagram account on social media hasn’t been able to get many followers. Instagram has +7,657 followers right now.
The Phoozy company has between 11 and 50 people working for it, and its main office is in Charlotte, North Carolina. As of August 2022, Phoozy is still in business and makes $4 million a year.
