Napwell Shark Tank Update | Napwell Net Worth
Napwell is a wearable technology that Justin Lee and Neil Joglekar presented on The Shark Tank in episode 619.
Napwell is a company that developed a sleep mask designed to improve the quality of naps and ease the transition between sleep and wakefulness.
The Napwell mask utilizes built-in lights that gradually brighten at a set time before the user’s desired wake-up time, simulating a natural sunrise.
This process helps to reduce grogginess and sleep inertia by gently waking the user from their nap rather than abruptly disrupting their sleep with an alarm.
The idea behind Napwell is to make napping more efficient and beneficial by helping users feel refreshed and more alert upon waking up.
The mask can be particularly useful for those with busy schedules or professionals needing short power naps during the day to maintain their productivity and focus.
Napwell is an intelligent eyeshade with which you can keep track of your nap time, and when it’s time to get up, you’re woken up by the interior lights gradually brightening.
What Is Napwell?
Napwell is a sleeping mask equipped with an integrated alarm clock. The Napwell system uses graded lights to gently wake you up so you feel refreshed after a good night’s sleep.
Napwell is a brand of sleep mask designed to help users take more efficient and effective naps. The mask combines light and temperature control to create a more comfortable and restful nap environment.
The mask is designed to simulate a natural sunrise and sunset, gradually waking the user up or helping them fall asleep, depending on the time of day.
Napwell is a popular choice for people who want to improve the quality of their naps or who struggle with getting enough rest during the day.
The LED lights slowly brighten in the Napwell to gently wake you without disturbing your companion or setting off a loud alarm. Napwell can be used for both naps and nocturnal sleep, thanks to the countdown timer.
This sleep mask is made of silky soft materials that hug the face softly while leaving room for the eyes. This area is crucial for REM sleep to occur uninterrupted.
The Napwell’s electronic components are enclosed inside removable inserts, making the mask washable for prolonged use.
| Company Name | Napwell |
| Entrepreneur | Neil Joglekar and Justin Lee |
| Product | Sleeping Mask For Gradual Awakening With Lights |
| Investment Asking For | $100,000 for 10% equity in Napwell |
| Final Deal | No Deal |
| Shark | No Shark |
| Episode | Season 6 Episode 15 |
| Business Status | Out Of Business |
| Website | Visit Website |
Who Is The Founder Of Napwell?
Justin Lee (MIT) and Neil Joglekar (Stanford) are the founders of Napwell who appeared on Shark Tank to present their invention Napwell.
Napwell Before Shark Tank
Neil Joglekar was an established entrepreneur who had built two profitable businesses. The Stanford grad founded Cardinal Tutors, a successful Bay Area tutoring service, and Reelsurfer, an online video editing program.
Justin Lee, a former classmate, also had an outstanding resume when he reconnected with him in 2013. Justin has a Bachelor of Science in Physics from MIT and a Doctorate in Health, Science, and Technology, a combined Harvard-MIT program.
Previously, Justin was featured on CNN for launching a digital camera into orbit to photograph Earth. Justin spent just $150 on the project. They aimed to develop a product to help people lead more productive and efficient lives.
They started without any idea of a specific product; rather, they started with a problem, namely the lack of efficiency in various variables, and sought a solution.
They concluded that lack of sleep and abrupt waking were the leading contributors to inefficiency for most people.
A sudden waking is frequently accompanied by sleep inertia or a foggy feeling caused by interrupted sleep cycles. Napwell is a sleeping mask designed by entrepreneurs that simulates a slow sunrise to awaken the user gently.
They envisioned the Napwell as a power napping device by busy professionals and went to the crowd-funding site Kickstarter to help cover early setup and production costs for the Napwell.
The Kickstarter campaign officially launched in December 2013 for $30,000. When the campaign concluded 40 days later, the Napwell firm raised over $50,000 from over 750 backers. T
The Kickstarter campaign quickly gained another unexpected result when producers saw Shark Tank, and the couple was encouraged to present their idea to the sharks.
How Was The Shark Tank Pitch Of Napwell?
Napwell appeared on Shark Tank Season 6, Episode 15, aired on January 16, 2015. Neil and Justin appeared on Shark Tank requesting an investment of $100,000 in exchange for a 10% stake in Napwell.
During their Shark Tank pitch, Napwell co-founders Neil Joglekar and Justin Lee presented their sleep mask to the sharks, seeking an investment of $100,000 in exchange for a 10% stake in their company.
They explained the benefits of the Napwell mask, including how it helps to combat grogginess and improve productivity by simulating a natural sunrise, waking users up gently and effectively.
Despite their compelling pitch, the sharks were not convinced that Napwell had a large enough market or was differentiated enough from other sleep masks.
Concerns were also raised about the price point and potential competition from smartphone apps and other sleep aids. Ultimately, the sharks did not see a clear path to success for Napwell, and the co-founders left the show without securing an investment.
Neil and Justing left the Shark Tank stage without getting any deal from the Sharks.
It is important to note that a company’s experience on Shark Tank does not always determine its success or failure, and many businesses continue to grow and thrive after appearing on the show, even without securing a deal from the sharks.
Final Deal: No deal between Napwell and Sharks.
What Happened To Napwell After Shark Tank?
After the show, Neil was disappointed that the sharks did not share his vision for the firm. Justin admits that he and he could have been more convincing to convince the sharks that Napwell had an enormous market, but he knows the company would thrive without their help.
Regrettably, the organization has not accomplished much in the 18 months since the broadcast of the Napwell program. Napwell masks have been delayed in delivery to backers of the original Kickstarter campaign.
Napwell still told backers who hadn’t received their masks on May 30th, 2016, that the last batch of 550 masks would be delivered in July 2016.
The Kickstarter campaign provides additional updates about the final production run, but they are visible only to earlier project backers. This leaves the causes of the production delays affecting Napwell unknown for now.
It is possible to pre-order a Napwell mask through the company’s website, but customers are informed that delivery may be delayed until September 2015; together with the updates on Kickstarter, this suggests that relatively few Napwell masks have been pre-ordered.
The entire Napwell operation bears the appearance of being left to stagnate and expire.
Neil and Justin have not promoted the Napwell mask in any way since their segment aired, and they will likely move on to more profitable endeavors once they have fulfilled their obligations to the Kickstarter crowd that helped them launch the business in the first place.
When viewing Neil Joglekar’s Twitter account, this suspicion grows much stronger. Napwell does not receive any mentions from the 9,000 followers he tweets regularly.
Neil may realize Napwell is not viable and will abandon the project once the final batch of masks purchased is delivered.
There is a possibility that, after the agony of being rejected by the sharks, Neil and Justin decided it was best to let Napwell die gently, avoiding the pain of a long-drawn-out death.
Napwell Shark Tank Update
Napwell got a little boost after its appearance on Shark Tank. However, the hype about Napwell was short-lived. Napwell went out of business within a year after its appearance on Shark Tank.
The cloud-based startup CrossLead, founded in 2011 by retired General McChrystal, has hired Neil Joglekar as its Head of Product. Most people know the General for commanding US forces in Afghanistan from 2009 to 2010.
McChrystal has been building cloud-based productivity tracking software for businesses since he retired. He utilized his experience in transforming the US counter-terrorism campaign.
Joglekar’s role at CrossLead is to develop new products based on the software. McCrystal runs about seven to eight kilometers daily, eats only one meal daily, and sleeps four hours a night.
Do you believe he’s ever had a poor power nap? Joglekar now collaborates with Microsoft and Mozilla at BrowserStack, leaving CrossLead.
Lee obtained his medical engineering and medical physics doctorate in 2017 from Harvard-Division MIT of Health Sciences and Technology.
Is Napwell Still In Business?
After their appearance on Shark Tank, Napwell faced several challenges but continued to work on promoting their sleep mask and improving the product.
Although Napwell did not secure a deal on the show, their exposure from the episode helped create awareness about their product and generate interest among potential customers.
Following the show, Napwell focused on fulfilling orders from their Kickstarter campaign, where they had successfully raised over $60,000 before appearing on Shark Tank.
They worked to address the concerns raised by the sharks, such as differentiating their product from other sleep masks on the market and optimizing the mask’s design and functionality.
Napwell Sleep Mask is out of business as of 2023.
What Is the Net Worth Of Napwell?
The valuation of Napwell was $1 million when it appeared on Shark Tank. The net worth of Napwell is unknown as of 2023 since the company went out of business.
