Tek Dry Shark Tank Update
machine to dry out water-damaged electronic devices
What Happened to Tek Dry After Shark Tank
Is Tek Dry still in business? Yes — still in business, but struggling.
- The deal with Kevin closed and he is listed as a minority investor on the company's balance sheets.
- In July, 2019, they raised $3 million in a venture round and in March, 2020 they secured $1.5 million in financing.
- As of June, 2022, the company has machines in over 600 Staples stores. Revenues are around $1 million annually.
- In June, 2023, it appears the service is only available in 2 locations: Marathon, Florida and Kahului, Hawaii.
- In an April, 2024 check in, the website is down but the service is still listed on the Staples website.
Last verified Apr 1, 2026. Web-confirmed sources.
Get updates on Tek Dry
The Tek Dry Shark Tank Pitch
Adam Cookson and Craig Beinecke of Denver, CO pitched Tek Dry on Shark Tank Season 8, Episode 3, which aired Friday, October 7, 2016, asking for $500,000 for 5% of the company — a $10M valuation.
Kevin O'Leary agreed to invest $500,000 for 5% equity, valuing the company at $10M, structured with a $500,000 loan. The deal closed after the show.
Watch the Pitch
Pitch Details
- Aired
- S8E3Oct 7, 2016
- Ask
- $500,000for 5%
- Ask Valuation
- $10M
Deal Terms
- Amount
- $500,000
- Equity
- 5%
- Valuation
- $10M
- Loan
- $500,000
Kevin O'Leary