Table of Contents
ROQ Innovation, featured in episode 11 of Season 13 of Shark Tank, offers functional fashion wear. Their “headlightz” beanies and headbands feature rechargeable LED lights with multiple brightness settings, which are one of their standout products.
These headpieces are not only stylish but also practical, providing hands-free light ideal for outdoor activities and emergencies with low visibility.
The company, founded by CEO Raquel Graham, has gained popularity for its unique products that cater to the needs of modern lifestyles.
The headlightz, along with other items like the faux fur scarf “nekz,” have received acclaim for their quality and functionality.
With a commitment to solving everyday challenges, ROQ Innovation continues to expand its product line, offering consumers convenient and reliable solutions for various situations.
| Company Name | Roq Innovation |
| Founder | Raquel Graham |
| Product | Light-up hats with innovative designs |
| Investment Seeking | $200,000 for 15% Equity |
| Final Deal Accepted | $200,000 for 20% equity + $1 royalty per unit until $600k is paid |
| Shark Name | Peter Jones and Kevin O’Leary |
| Episode | Season 13, Episode 11 |
| Business Status | In Business |
| Website | ROQ Innovation Website |
| Net Worth | $2 million |
What Is ROQ Innovation?
ROQ Innovation is a company that offers a range of innovative products, including LED caps, beanies, headbands, and other accessories.
ROQ Innovation focuses on developing problem-solving solutions to make everyday life easier. It provides solutions that meet the needs of families and individuals, aiming to simplify their lives through practical and creative products.
They focus on combining style with functionality, with products designed for activities like nighttime adventures outdoor activities, and adding flair to one’s look.
ROQ Innovation products include features such as LED lights for visibility and come in a variety of colors and styles.
The company offers a variety of products ranging from beanies with built-in LED lights to other innovative accessories designed to enhance convenience and functionality in daily activities.
Who Is The Founder Of ROQ Innovation?
Raquel Graham is the founder of ROQ Innovation. She has a background in marketing and product innovation, with experience in helping corporate companies build their brands.
Raquel’s entrepreneurial journey began in 2014 when she established ROQ Innovation, a company focused on developing problem-solving solutions to simplify daily life challenges.
Raquel Graham conceived the idea of ROQ Innovation out of her passion for providing solutions to make people’s lives easier.
Her experience in marketing and product development inspired her to create a company that focuses on innovation and practicality.
The success of her initial products, NEKZ™ and HEADLIGHTZ™, showcased her ability to identify market needs and develop unique solutions.
Before appearing on Shark Tank, ROQ Innovation had already made significant strides in the market. NEKZ™, Raquel’s first invention, gained popularity through platforms like HSN and The Grommet.
It was recognized for its innovative approach to solving a common problem. HEADLIGHTZ™, her second invention, also received acclaim, being named to Oprah’s O List.
Raquel’s background in marketing and strategic partnerships played a crucial role in establishing ROQ Innovation as a reputable brand known for its innovative and practical products.
How Was The Shark Tank Pitch Of ROQ Innovation?
- Product: Roq Innovations showcased their innovative product, Headlightz, which are beanies with LED lights designed to make nighttime tasks easier.
- Founder: Raquel Graham, an experienced entrepreneur with a background in marketing and branding, presented the pitch seeking a $200,000 investment for 15% equity in the company.
During the Roq Innovations’ Shark Tank pitch, Raquel Graham, the founder, showcased their innovative product line, including Headlightz beanies with built-in LED lights for enhanced visibility during nighttime tasks.
Drawing on her extensive background in marketing and branding, Raquel presented a compelling case for a $200,000 investment in exchange for a 15% equity stake in the company.
The Sharks were captivated by the unique nature of the product and Raquel’s commendable sales figures, which had already reached $2.4 million, with $1.4 million attributed to Headlightz alone.
Despite the impressive numbers, some Sharks expressed reservations about the pending patent and the overall business strategy.
In response to Raquel’s pitch, Kevin O’Leary made an offer of $200,000 in exchange for a $2 royalty per unit sold, seeking to secure intellectual property rights through this arrangement.
On the other hand, Peter Jones proposed a similar investment of $200,000 but for a larger 25% equity share in Roq Innovations.
Raquel deliberated on the offers and eventually turned down Kevin’s royalty proposal, citing her reluctance to introduce royalties into the deal structure.
She found Peter’s offer more aligned with her vision and business goals, leading her to accept $200,000 for a 20% equity stake with a $1 royalty per unit until $600,000 is recouped by the investors.
This strategic partnership not only injected much-needed capital into Roq Innovations but also brought valuable expertise and resources onboard to fuel the company’s growth trajectory in the competitive market landscape.
- Investment Offers:
- Kevin O’Leary offered $200,000 for a $2 royalty per Headlightz sold.
- Peter Jones offered $200,000 for a 25% equity stake.
- Final Deal:
- Raquel declined Kevin O’Leary’s royalty offer.
- Raquel accepted Peter Jones’ offer of $200,000 for a 20% equity stake with a $1 royalty per unit sold until $600,000 is recouped.
| Shark’s Name | Investment Offered | Counter Offer by Founders | Final Deal Accepted by Founder |
| Kevin O’Leary | $200,000 | Declined Royalty | – |
| Peter Jones | $200,000 | $1 royalty until $600,000 | $200,000 for 20% equity |
Did ROQ Innovation Get a Deal on Shark Tank?
ROQ Innovation did get a deal on Shark Tank Season 13. Raquel Graham secured a deal with Kevin O’Leary and Peter Jones for $200,000 for 20% equity and a $1/unit royalty until $600,000 is re-paid.
This deal has propelled the company to significant success, with over $4 million in sales since appearing on the show.
Raquel’s innovative products, including the Head Lightz beanie with a rechargeable LED light, have gained popularity and recognition, even earning a spot on Oprah’s Favorite Things list for three consecutive years.
The partnership with the sharks has helped ROQ Innovation grow and expand its product line, making it a successful post-Shark Tank story.
Also read, Must Love Shark Tank Net Worth
What Happened To ROQ Innovation After Shark Tank?
After its appearance on “Shark Tank,” ROQ Innovation experienced a significant boost in its business.
Raquel Graham, the founder and CEO, successfully secured a deal with investors Peter Jones and Kevin O’Leary, who invested $200,000 for a 20% equity stake and a royalty of $1 per unit until $600,000 is paid.
This strategic partnership not only provided the necessary funding but also brought valuable expertise and connections to the company.
ROQ Innovation continued to thrive post-“Shark Tank,” expanding its product line to include innovative offerings such as headlightz baseball caps and new color variations for its existing products like headlightz beanies and nekz scarves.
The company’s products gained popularity, with headlightz making it to Oprah Winfrey’s O List and Favorite Things lists multiple times, further boosting its reputation and sales.
As of 2024, ROQ Innovation is projected to accumulate over $2 million in headlightz sales alone, showcasing the continued success and growth of the business.
The products are priced at an average of $30 and are available for purchase on the company’s website and platforms like Amazon, ensuring widespread accessibility to consumers.
Despite facing health challenges, Raquel Graham’s resilience and dedication to her business have been instrumental in navigating the ups and downs of entrepreneurship.
With a strong market presence, celebrity endorsements, and a diverse product range, ROQ Innovation remains a prominent player in the functional fashion wear industry, catering to the evolving needs of its customers.
ROQ Innovation is not only in business but thriving, with a promising net worth attributed to its innovative products, strategic partnerships, and continuous growth in the market.
The company’s success post-Shark Tank serves as a testament to the entrepreneurial spirit and vision of Raquel Graham, solidifying its position as a leader in the industry.
Also read, RomperJack Shark Tank Update | RomperJack Net Worth
ROQ Innovation Shark Tank Update
Since Roq Innovations appeared on Shark Tank, the company has continued to thrive and grow under the leadership of founder Raquel Graham.
Despite the negotiations with Kevin O’Leary and Peter Jones still ongoing, Roq Innovations has managed to maintain its success in the market.
Raquel Graham has successfully achieved her sales goal of $1.7 million for 2021, showcasing the company’s resilience and ability to adapt in challenging times.
ROQ Innovation has expanded its product line beyond the innovative beanie with a rechargeable LED light.
Raquel Graham, the entrepreneur behind ROQ Innovation, now offers a range of products, including scarves, masks, and the latest addition, Handy Lightz – a flashlight glove designed to make detailed work easier.
Roq Innovations has not only sustained its existing product line, including the popular Headlightz and Neks scarves, but has also expanded to introduce new innovative products, such as LED beanies for winter, glove lights, and face masks.
Roq Innovations’ products, especially the Headlightz beanies, have initially garnered significant attention from celebrities, including Oprah Winfrey, who featured them on her favorite things and O list.
The company’s products have also been recognized by media outlets like Forbes, Entrepreneur.com, and Black Enterprise, further solidifying Roq Innovations’ position in the market.
Furthermore, Roq Innovations has received accolades, such as the Chicago 2022 Minority Supplier of the Year award, highlighting the company’s commitment to excellence and innovation.
With products now available in NCAA colleges and various media features, Roq Innovations continues to expand its reach and impact in the industry.
The positive reception from customers is evident through the rave reviews on platforms like Amazon, where the Head Lightz beanie has garnered over 1,000 reviews. This strong consumer feedback reflects the appeal and quality of ROQ Innovation’s products in the market.
Given Raquel Graham’s background in marketing, her innovative approach, and the solid foundation established post-Shark Tank, ROQ Innovation is poised for further success.
The company’s commitment to introducing new products and reaching a wider audience bodes well for its future growth trajectory.
As of now, Roq Innovations remains in business and shows promising growth prospects. Raquel Graham’s dedication to creating life-changing products and her ability to navigate challenges have positioned Roq Innovations for further success in the future.
With a projected sales target of $4 million for the upcoming year, Roq Innovations is poised to continue its upward trajectory in the market.
Roq Innovations’ post-Sask Tank journey has been marked by resilience, innovation, and success. The company’s continued growth and recognition in the industry affirm its position as a key player in the market, with a bright future ahead.
Also read, VaBroom Shark Tank Update | VaBroom Net Worth
What Is the Net Worth Of ROQ Innovation?
According to our research, ROQ Innovation’s net worth is estimated to be $2 million. The valuation of ROQ Innovation was $1 million after securing an investment from Peter Jones and Kevin O’Leary on season 13 of Shark Tank.
