Icapsulate and how they get over of the biggest shark tank deal

What is iCapsulate?

Hey there, fellow business enthusiasts! If you’ve ever wondered about the rollercoaster ride of iCapsulate on Shark Tank, you’re in for a treat. iCapsulate, at first glance, might sound like a high-tech coffee machine, but it’s not your average caffeine-fueled business. Let’s dive into their story, products, and that unforgettable Shark Tank adventure.

iCapsulate is a coffee pod producer from Australia that is bio-degradable. In 2017 Kane Bodiam, partner of the venture offered a $2.5 million offer to Shark Tank Australians with a 22.5% stake.

Shark Tank Appearance in the Story

So, picture this: a bunch of entrepreneurs with a genius idea walks into the Shark Tank. That’s exactly what happened when iCapsulate hit the small screen. They offered investors a unique proposition – to revolutionize the coffee industry with personalized coffee capsules.

In the third season of the television series Shark Tank. On YouTube, its original offer for 15% of stakeholders was 2,5 million dollars. Shark Andrew Banks shook hands with 2.5 million dollars and a share of 22.5 percent.

The Products and Services Offered by iCapsulate

iCapsulate’s big idea was to create custom coffee capsules, allowing coffee lovers to brew their favorite flavors. They wanted to disrupt the coffee market with a dash of personalization. Imagine having a coffee capsule tailored to your taste buds every morning!

Why the Shark Tank Investment Sank

Now, here’s where the story takes a twist. You’d think the Sharks would be all in for a fresh take on coffee, but they weren’t biting. The deal crumbled faster than a biscuit in hot coffee, and here’s why.

What Happens During the Shark Tank Pitch

During their pitch, iCapsulate had their coffee-loving hearts in the right place, but they stumbled when it came to numbers. The Sharks could smell the uncertainty, and they’re not called Sharks for nothing! They opted out, one by one, leaving iCapsulate in the lurch.

What is iCapsulate Net Worth Today?

With their looming insolvency, the company has an icapsulate net worth of under $100k. And he also notes that he has agreements across Australia and New Zealand with big coffee shops and sellers. By the end of just one and a half years, he said that he had 37.5 million AUD sales. This is what the sharks are all about. The Shark Andrew Banks was offered to Kane immediately with 2 deals, which he chose to choose from. For 22.5 percent of the group, they consent to a joint agreement of $2.5 million.

iCapsulate’s net worth is unofficially unknown. Kane became one of the biggest busts on the reality show, going from hero to zero. Andrew Banks withdrew his offer after discovering the claims made by Kane were false. Kane closed its doors in 2018 and has no value as of 2023.

Shark Tank Deal Falls

The iCapsulate dream of securing a Shark Tank deal faded faster than a morning fog. The potential investment they were hoping for from the Sharks didn’t materialize, leaving them with a strong brew of disappointment.

“It’s not going to be gone because at the show you’ll recall, they said, ‘We’re the only producers of coffee pods that are biodegradable, and the CSIRO’s going to affirm that soon.”

“And guess what? They didn’t, and they aren’t. I didn’t gamble that for 2.5 million bucks. It was [a pity] that they had a good company because the sales of nearly 15 million dollars that year and 25 million dollars the next. You don’t have my money.”

“We gave them some information at first, but when we got all the certification and all we never did [with the deal],” the founder told news.com.au.

“They have stopped speaking, so we have stopped talking too. It just moved slowly, and we moved very fast. Possibly we decided two or three months after we met Andrew that we’d go alone.”

The founder has said that the capital injection of $2.5 million is not too much also icapsulate doesn’t have substantial unpaid debts, according to administrator Andrew Barnden. Bara “fair bit of money still owed to equipment.” Administrators pursue expressions of third parties’ interest in the business, but Barnden says that purchasing deals are also available from the company’s management.

“We will consider any plan, whether a company agreement or a straight sale,” he says. “We will consider.

What Happened to iCapsulate After Shark Tank?

Now, here’s where it gets interesting. iCapsulate didn’t let the rejection deter them. They kept brewing up their coffee capsules, taking their idea directly to the people. Their determination was as strong as a double espresso, and it paid off.

“The delusional and delicate leadership in delivering the messages was taken by Kane Ronald Vasudevan Bodyam,” he reveled on October 2, 2015.

Mr. Bodiam was asked not to guarantee that his previous manager’s espresso cases were dangerous and “restricted” from thinking that he once had guided an organization.

It was also forbidden to share the “mystery producing forms ” of crazy coffee cases. This company and its owner also manufacture Nespresso Espresso containers. Andrew Banks left the contract made during the TV show with this incident. He also said, ‘I’m not going to risk that’: Towards news.com.au.

Although iCapsulate continued to operate for some time after the failed deal, its fortunes continued to decline, and it went out of business in 2018. As of 2023, iCapsulate is worth $0, and its biodegradable coffee pods are no longer available.

Banks later confirmed that the iCapsulate deal ultimately fell through due to the company’s claims about its biodegradable capsules not being accurate.

The Official Statement Made by iCapsulate

iCapsulate’s official statement after their Shark Tank experience was something like, “We might not have hooked the Sharks, but we’re brewing something special for our customers.” They stayed true to their mission of offering personalized coffee experiences.

Mr. Boyam, however, said that he described his comments as “strange” and that, due to lack of contact, icapsulate took an “internal decision” not to continue with the contract. He told Mr. Banks that he had only spoken to his personal assistant after the show.

“We gave them some information at the outset, but when we got all the certification, and we never proceeded [with the deal].”

What is iCapsulate Share Price Now?

As of 2023, iCapsulate is no longer in business, so it has no share price. The company’s failure was due to a combination of factors, including the false claims made by its founder about its biodegradable coffee pods and the loss of investor confidence after the failed Shark Tank deal.

FAQs about iCapsulate:

Q: Did any of the Sharks invest in iCapsulate? 

A: Nope, not a single Shark took the bait. They all passed on the opportunity.

Q: Can I buy iCapsulate coffee capsules today?

A: Yes, you can! iCapsulate is still in business, and you can get their personalized coffee capsules online.

Conclusion:

In the grand tale of iCapsulate, the Shark Tank deal might have gone down the drain, but the coffee is still brewing strong. Their story is a testament to resilience and the power of believing in your product. So, whether you like your coffee black, with cream, or personalized to perfection, remember that iCapsulate is out there, brewing up a storm and proving that sometimes, success is just a cup of determination away! Cheers to the caffeinated dreamers!