Nomiku Update: Progress of Chris Sacca-Backed Project Post-Shark Tank

The highly anticipated 16th season of the beloved reality show Shark Tank is scheduled to debut on October 18 on ABC. With excitement building for this upcoming season, viewers are curious to learn more about the brands that received investments in previous seasons from the Sharks.

One notable brand that gained recognition for its creativity is Nomiku, which appeared in the show’s eighth season back in 2017. Founded by Abe and Lisa Fetterman, Nomiku specialized in sous vide cooking devices designed to fit any pot or container, allowing users to heat water precisely to the perfect cooking temperature for a seamless gourmet culinary experience.

Venture capitalist Chris Sacca was quick to recognize the brand’s potential, investing $250,000 for a 10% stake in Nomiku. Unfortunately, the company ultimately ceased operations due to poor reviews. They made the announcement of their closure via an Instagram post on December 13, 2019. The message conveyed was:

“Well, we’re sorry to say that we’ve reached the end of the road.”

Despite the company’s closure, their website, try.nomiku.com, remains active.

A Glimpse at Nomiku’s Journey Following Shark Tank’s Season 8

After the Nomiku Sous Vide Cooker was showcased nationally on ABC’s Shark Tank, the “Shark Tank Effect”kicked in, greatly increasing the brand’s visibility. The product gained acclaim not only among home cooks but also attracted attention from professional chefs, with notable establishments such as Noma incorporating the device into their kitchens.

In 2016, Nomiku launched a wifi-enabled sous vide cooker priced at $249, an upgrade from their initial model that retailed for $199. This new device provided users with the capability to control their cooking process remotely via their smartphones. The brand diversified its offerings by also releasing two cookbooks and a meal delivery service.

However, the wifi-enabled version encountered significant challenges. It faced a mixed reception, with CNET labeling it as bulky and outdated, criticizing its sole remote control feature.

As the Sous Vide Cooker gained popularity, more competitors entered the market, offering similar products with additional features at lower prices. This competition significantly hurt Nomiku’s sales. In a final attempt to revitalize the brand, Nomiku introduced a third product featuring RFID technology to automate temperature settings. Unfortunately, this model also failed to gain traction in the market.

Moreover, Nomiku experienced delays in fulfilling Kickstarter orders, as evidenced by customer reviews on the crowdfunding platform. Many backers expressed dissatisfaction with faulty products, while others reported not receiving their orders at all.

After achieving a total revenue of $8 million, Nomiku was forced to shut down due to persistent manufacturing issues. As per their social media updates, the closure came in 2019 following their unsuccessful efforts to secure additional venture capital.

The founders, Lisa and Abe, have since pursued different paths. According to their LinkedIn profiles, Lisa now focuses on psychedelic integration and counseling, while Abe is involved in A.I. engineering, collaborating with companies like Sourceress and Imbue.

Nomiku’s Shark Tank Pitch and Judges’ Reactions

During their Shark Tank appearance, Lisa and Abe Fetterman sought $250,000 for a 5% equity stake in Nomiku. They highlighted the device’s ability to ensure precise temperature control for gourmet cooking, catering to the needs of both amateurs and chefs alike with its user-friendly design.

The cooker could heat water to temperatures as high as 90°C without requiring constant oversight, promising a hassle-free experience. Each unit cost $199 to produce, and they sold it at the same price, resulting in no profit margin.

Mark Cuban opted out after identifying potential scalability issues. Lori and Robert shared Mark’s concerns and also withdrew from the investment. Although Kevin offered $250,000 in exchange for a 10% stake, he too stepped back when the founders attempted to sway Chris to take the deal. Ultimately, Chris also proposed the same terms as Kevin, and they decided to partner with him.

New episodes of Shark Tank’s season 16 will air on ABC every Friday at 8 PM ET.

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