Lumi Shark Tank Update 2023 | SEOAves (2023)

Have you ever wanted to create a unique T-shirt, or maybe want to put your logo on something that is not just paper?

Lumi is a company that creates solar-powered printing inks that can be used to develop photos on fabric. Founded by Jesse Genet and Stephan Ango, the pair began experimenting with the “Lumi process” in their apartment building’s laundry room. They ran a successful Kickstarter campaign to raise funds for developing their product and have since sold over 30,000 kits.

The company has expanded its reach to big boxes craft stores like Urban Outfitters, Michael’s, and JoAnn Fabrics, as well as its app allowing users to mock up designs, order supplies, and access user guides. Their product is now available on Amazon.

Lumi Photo Printing Kits use the sun’s power to create permanent designs on any surface. Snap a photograph and upload it to the Lumi app. The photo can be printed on either a natural material or fabric.

Lumi App allows you to create a digital negative from any photo you have taken. You can save this and print it at home or send it via Lumi. Snap open the packets of light-activated dye and spread them on your chosen surface.

Place the image you are printing on a photo transfer mat or a duffle bag, and leave it to dry for ten minutes to set the design and make it permanent. Take your photos from the darkroom onto a surface that you can use to create something amazing with Lumi.

What Is Lumi?

Lumi is a do-it-yourself picture printing kit that prints photographs onto fabrics such as t-shirts using natural sunlight. Lumi is a way for Sharks to create unique and personalized designs on t-shirts and textiles using only solar energy.

Lumi is a unique product that leverages the power of the sun to print custom designs on fabrics, t-shirts, and textiles. The product works by placing a template over the item in sunlight, transferring its design to the textile, t-shirt, or other product.

Lumi has grown with the help of Puma workshops and is now available online and in outlets like Urban Outfitters, Michael’s, and JoAnn Fabrics. In 2021, Lumi reached an annual revenue of $2.5 million.

You may place a template over the item and then transfer the design to the textile or product exposed to direct sunlight. Lumi was an innovative concept but was far from the most effective printing design for paper or material.

Lumi’s original purpose and design have shifted dramatically since its conception — while competitors for individual solar-powered printing have emerged, Lumi has entered a completely new sector.

Lumi has grown into a highly successful corporation that provides products and services to enterprises and manufacturers rather than individual consumers.

Sharks did not invest in the company (citing lack of cash flow), but other venture capital firms like Y Combinator seeded the startup.

Lumi has evolved into a printing and design company focusing on connecting textile and product printers with businesses needing their services while maintaining a transparent supply chain with a low carbon footprint. The company is now worth several million dollars and has a diverse clientele.

Who Is The Founder Of Lumi?

Jesse Genet is the founder of the Lumi. Jesse had been running the firm for more than three years before being invited to pitch her ideas on SharkTank.

Jesse has since joined a Silicon Valley startup farm, and his business has been a success.

Lumi Before Shark Tank

Lumi founder Jessica Jennay is asking for a $250,000 investment in exchange for a 5% stake in her company. Are you interested in designing a t-shirt or printing your logo on something other than paper?

Using the sun’s power, you can print stunning, lasting artwork on any natural material.

Jessica claims she will demonstrate exactly why Lumi is different from anything else the Sharks have seen; take a photo with your phone camera, upload it to the free Lumi app, and press negative to turn it into a negative.

You can either save and print the image yourself or order it from Lumi. They will print it for you and ship it to you.

Even in her adolescence, Jesse possessed an entrepreneurial flair, having begun selling t-shirts at 16. Jesse grew during her college years by selling t-shirts to stores.

Her business partner Stephan Ango and Jesse met while experimenting with the “Lumi process” in their laundry room while attending Art Center College of Design in Pasadena.

They turned to Kickstarter in 2010 to raise funds for their research and raised $13,597. Lumi may be used on a variety of surfaces, including furniture fabrics. Still, their ultimate goal was to provide a kit allowing individuals to use their Inkodye (inks) to create authentic art on t-shirts or furniture.

They raised $268,437 later that month on their $50,000 goal in their second Kickstarter campaign!

The partnership with Puma to develop the concept in Europe, Asia, and the Middle East through “creative factory workshops” was a huge success for the duo.

It was a smooth ride for the company since it sold over 30,000 kits and was carried by retailers such as Urban Outfitters, Michael’s, and JoAnn Fabrics.

Lumi Features was created to connect like-minded people by sharing creative designs on YouTube. Continued to develop an app that allows you to exhibit your sample designs, place supply orders, and access learning manuals.

Lumi moved to Los Angeles in 2014, taking up a large 12,000-square-foot factory before requesting Shark Tank support.Is Lumi Capable of Sealing the Deal with Sharks?

How Was The Shark Tank Pitch Of Lumi?

Jesse comes to the Shark Tank show requesting an investment of $250,000 in exchange for a 5% stake in Lumi.

Kevin proposes you invest $250,000 in exchange for a 50% stake in Lumi or $250000 on an 8.5% interest loan with a 12.5% equity in Lumi.

Jesse was looking for an investment, not a loan, so he focused on investment deals. Jesse knew she could borrow money but was seeking to invest the money rather than get a loan.

Robert and Lori offer to buy 5% of the Lumi with a $250,000 investment plus a $ 100,000 loan in exchange for 2% equity.

Kevin, Robert, and Lori work on equity and loan deals. Jesse was unwilling to give equity in exchange for a loan because she could already get a loan.

Jesse denied accepting the offer as he didn’t want any debt for Lumi. Jesse left the Shark Tank stage without securing any deal from the Sharks.

What Happened To UnShrinkIt After Shark Tank?

Final Deal: No deal between Lumi and Sharks.

What Happened To Lumi After Shark Tank?

Lumi appears to have refocused its efforts following its debut on Shark Tank. Lumi is currently referred to as “Inkodye,” which has resulted in a great deal of uncertainty over the product’s performance.

There are still Inkodye products available online and in various craft stores, and customers generally like them.

What Happened To Hugo’s Amazing Tape After Shark Tank?

The Inkodye bottles received an average rating of 3.60 out of 25 on the Dharma Trading website, specializing in “fiber art supplies and clothing banks.”

The bottles are rather pricey, costing $13.49 online for one to nine bottles and $12.99 per bottle for quantities of ten or more.

Inkodye is also sold out of several colors, pointing to possible insolvency and impending failure.

Lumi Shark Tank Update

The popularity of Lumi skyrocketed, and they generated great sales after appearing on Shark Tank, even though they didn’t get any deal from the Sharks.

Lumi focused on its packaging and improved it as recommended by the Sharks, which helped them remarket their product.

Lumi has been an example product that is doing pretty well without any investment from the Sharks. Lumi is still in business as of 2023, making $9 million in annual revenue.

Is Lumi Still In Business?

Lumi is still in business and doing well as of 2023. Y Combinator seed funding enabled Lumi’s new software platform, Lumi.com, to be launched one month after the Shark Tank episode aired.

Lumi.com allows users to design and order unique packaging and branding accessories like stickers and rubber stamps.

What Happened To NoPhone After Shark Tank?

The Wall Street Journal, ShaveFace, Blackbox, and MailChimp are thousands of businesses using Lumi for packaging.

There are three different Lumi plans: Starter (for businesses shipping over 1,000 orders per month), Growth (for businesses shipping over 10,000 orders per month), and Enterprise (for businesses shipping over 100,000 orders per month).

What Is the Net Worth of Lumi?

The valuation of Lumi was $5 million when it appeared on Shark Tank. The net worth of Lumi is $9 million as of 2023.