Car accidents are a major problem everywhere. Many people lose their lives because of distracted driving. This happens when a driver takes their hands off the steering wheel. Some people use their phones. Some eat while driving.
Others get distracted in different ways. These small distractions cause big problems. Every day 18 teenagers die in the United States due to car crashes. That is a huge number. The main cause of these accidents is not paying attention to the road. This problem needed a solution.
A group of teenage inventors came up with an idea. They created a product called SmartWheel. It is a smart steering wheel cover. It detects when a driver removes their hands from the wheel. It then sends a report to a third party. This helps prevent accidents.
The Inventioneers came to Shark Tank to get an investment. They needed money to produce SmartWheel. They also wanted guidance from the Sharks. They asked for $100,000 for 15% equity. Did the entrepreneurs get a deal on Shark Tank? Check out our SmartWheel update to find out!
SmartWheel Net Worth Shark Tank Update 2025
TJ Evarts and his partners went on Shark Tank asking for $1,000,000 for 7% of their company. This meant they thought their business was worth $14,285,714. They made a deal with Mark Cuban and Robert Herjavec for $1,000,000 for 14%, lowering the valuation to $7,142,857. The episode was aired on March 8, 2013. The teen-driving safety wheel prototype never reached full production and is now inactive. The current net worth of SmartWheel is $0 in 2025.
The product did not go far after the show. The deal with the Sharks never closed. The company did not move past the prototype stage. The entrepreneurs were not able to bring their products to the market. Today, SmartWheel is not in business. They do not have an active website. The product is not available for purchase.
The idea was great. The problem was real. However, bringing a product from idea to reality is hard. The SmartWheel team faced many challenges. They were young. They had a strong vision. However, they did not have enough experience to take the product to the next level. Without funding and production, the product did not move forward.
Yes, SmartWheel got a deal on Shark Tank. The Sharks saw potential in the idea. They liked the fact that it could save lives. However, they also had concerns about how long it would take to bring the product to the market.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | Out | N/A | N/A |
| Robert Herjavec and Mark Cuban | $100,000 for 30% equity contingent on a licensing deal with a car company | N/A | Yes |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Partnered with Robert | N/A | N/A |
SmartWheel shark tank pitch
The founders of SmartWheel were a group of young inventors. They called themselves “The Inventioneers.” The team included TJ, Jaiden, Emily, Kate Paige, and Breyton. They were teenagers. They wanted to create something that could help people. They knew that distracted driving was a serious issue. They wanted to do something about it.
The idea for SmartWheel came from real-life experiences. They had seen how dangerous distracted driving was. They wanted to create a product that would stop accidents before they happened. Their goal was to save lives. They put a lot of effort into their invention. They worked hard to create a working prototype.
The Inventioneers entered the Shark Tank full of excitement. They presented their product, SmartWheel. They explained how it worked. The SmartWheel could detect when a driver removed their hands from the wheel. It would then send a warning. The device could also send reports to parents or third parties. This was useful for young drivers. Parents could monitor if their kids were driving safely.
They asked for $100,000 for 15% equity. They needed the money to move their product into production. They planned to sell the SmartWheel online. It would cost around $200. The production cost per unit was about $50. Keep reading our SmartWheel update to see what happens next!
The Sharks had many questions about the SmartWheel. They wanted to understand how it worked. They also wanted to know if the product was ready for the market.
Kevin O’Leary: How much have you sold so far? TJ: We are still in the prototype stage. We have not started sales yet.
Daymond John: How do you plan to manufacture this product? TJ: We plan to use $75,000 from the investment to start production.
Mark Cuban: Have you tested this with real drivers? Emily: Yes we did study at MIT. 90% of people found it useful.
Barbara Corcoran: What is stopping you from going to market right now? Kate: We need funding to start production. We also need help with licensing and partnerships.
Each Shark had their own response to SmartWheel. Some liked the idea. Others had concerns.
Daymond John: He liked the mission. But he felt it would take too long to get to market. He went out.
Barbara Corcoran: She thought the team was amazing. But she felt the business needed too much work. She went out.
Kevin O’Leary: He thought the product was good. But he was unsure about how fast they could make money. He went out.
Robert Herjavec: He believed in the product. He made an offer of $100,000 for 30% equity but only if they secured a licensing deal.
Mark Cuban: He joined Robert’s deal and convinced him to remove the condition. The team accepted the deal.
Product Availability
From our SmartWheel update research, the product is not available for purchase. The company does not have an active website. There are no updates on any future developments.
Conclusion
SmartWheel was an innovative idea. It aimed to solve a serious problem. The young inventors were passionate. They had a strong mission. However, bringing a product to market is not easy. The team needed more experience and resources.
Even though they got a deal, the investment never came through. Without funding, the product remained a prototype. Today, SmartWheel is no longer in business. Their journey shows how hard it is to take an idea from a concept to a real product. But it also proves that innovation can come from anywhere.
The Inventioneers may not have succeeded with SmartWheel. But their story is inspiring. They showed creativity, hard work, and determination. Their experience on Shark Tank was a great learning opportunity. They may go on to create even better inventions in the future.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
