Larq Net Worth: Purification's Profitable Pitch

Larq has revolutionized the way we think about hydration, combining innovative technology with sustainability. From its inception, Larq’s journey through crowdfunding to its substantial growth has marked it as a leader in eco-friendly water purification solutions.

Who is behind Larq?

Founded by Justin Wang, Larq emerged out of a need to address the environmental crisis posed by single-use plastic bottles and the challenge of keeping reusable bottles clean. Wang’s passion for the environment and innovative spirit led to the creation of the world’s first self-cleaning water bottle using UV-C LED technology.

What is Justin Wang’s career?

Before Larq, Justin Wang had a notable career, serving as Vice President and later as President at the beauty technology firm FOREO. His experiences shaped his understanding of product management, strategy, and marketing, setting the stage for Larq’s inception.

Larq success

Larq’s took off with a successful Kickstarter campaign in 2017, raising over $1.3 million. The company’s innovative approach to water purification, leveraging UV-C LED technology, quickly caught the public’s attention, leading to significant sales and expansion into international markets.

Larq Net Worth

Larq is estimated to be worth $50 million. This valuation comes after a series of successful funding rounds and significant sales growth, with Larq achieving millions in annual revenue.

Acquisition by Brita

In a strategic move to expand its presence in North America and bolster its e-commerce business, Brita GmbH acquired Larq in February 2024. This acquisition marks a significant milestone in Larq’s journey, promising to enhance its global footprint and innovation capabilities.

The Impact of Shark Tank

Larq’s pitch on Shark Tank, asking for $500,000 for a 1% equity at a $50 million valuation, did not secure a deal but brought immense publicity to the brand. Despite not closing the deal with Sharks Kevin O’Leary and Lori Greiner, the exposure contributed to its continued success.

Product Expansion and Innovation

Post-acquisition, Larq plans to maintain its product portfolio while exploring new opportunities that align with Brita’s technology and market reach. This includes a focus on app connectivity and hydration tracking to enhance user experience.

Conclusion

Larq’s journey from a Kickstarter campaign to a major player in the sustainable hydration market, culminating in its acquisition by Brita, showcases the brand’s innovative approach and commitment to environmental sustainability. With a net worth of $50 million, Larq continues to set the bar high for eco-friendly water purification solutions.

FAQs about Larq

When was Larq founded?
- Larq was founded in late 2017.
What technology does Larq use?
- Larq uses UV-C LED technology for water purification and self-cleaning of its bottles.
How much has Larq raised in funding?
- Before its acquisition, Larq raised over $10 million in a Series A funding round.
What led to the acquisition of Larq by Brita?
- The acquisition was part of Brita’s strategy to expand back into North America and grow its e-commerce business, seeing Larq as a perfect match for these goals.
Where are Larq products available?
- Larq products are available on their website, Amazon, Best Buy, and other well-known e-commerce platforms.