GroupHug's Solar Charger Revolution: From Kickstarter to Shark Tank
Entrepreneur Krystal Persaud launched GroupHug in 2019, aiming to reduce reliance on fossil fuels. The company, which creates custom solar panels and charging devices, gained traction through a successful Kickstarter campaign and a high-profile investment from fidelity investments.
GroupHug's flagship product is a compact solar charger, resembling a picture frame, that can power electronic devices via USB. The device, made of bamboo and solar panels, stores energy in an internal battery, allowing charging anytime, day or night, and can be shared among users.
Krystal Persaud pitched GroupHug on Shark Tank, seeking $150,000 for 10% equity. Mark Cuban, impressed by the product, offered $150,000 for a 25% stake. Persaud accepted the offer, securing significant investment calculator and mentorship.
GroupHug also creates custom solar panels in the shape of company logos or mascots for both homeowners and businesses. The company caters to anyone passionate about renewable energy, especially city dwellers and apartment residents with limited outdoor space.
GroupHug, still active, offers innovative solar charging solutions. Krystal Persaud's vision, backed by Mark Cuban's investment calculator, continues to drive the company's growth in the renewable energy sector.
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