Van Robotics – Robot Tutors
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 6, 2020
Asking For:
$300,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Van Robotics presents ABii, a smart robot tutor that uses artificial intelligence to engage and tutor students, aiming to revolutionize the way kids learn by fusing education and technology.
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Background Story
Laura Boccanfuso, the founder of Van Robotics, hails from Columbia, South Carolina, and sought a $300,000 investment for a 10% stake in her company. Recognizing the changing landscape of education and the challenges students face in learning, especially in math, Laura developed ABii, the smart robot tutor. With a background in computer science and engineering, including a Ph.D. with a focus on social robotics, Laura aimed to leverage technology to address the evolving needs of students in a world saturated with technology.
The Product
ABii, the smart robot tutor, engages students with interactive and personalized lessons. It uses artificial intelligence to track performance and attention, adapting lessons to each student’s needs.
The robot delivers national standards-aligned lessons to ensure students stay on track academically. During a demonstration, ABii interacted with students, presenting a math problem and providing positive reinforcement through a dance when correct answers were given.
The commercial version of ABii is priced at $999 for schools, including curriculum for third, fourth, and fifth grades. For home use, the cost is $599. The product has been introduced through presales, with approximately $140,000 generated in the last three months.
Van Robotics received a grant from the Department of Education, allowing them to deploy 20 to 25 robots in schools across South Carolina.
How It Went
The company’s position before Shark Tank
Van Robotics has garnered about $140,000 in presales within the first three months, showcasing early interest in the product. The company has produced the first three commercial versions of ABii, with an emphasis on selling to schools initially. The unique approach of using cold emails, word of mouth, and a Department of Ed grant has enabled Van Robotics to secure partnerships with schools and Boys & Girls Clubs in South Carolina.
During an alpha pilot with 220 students, 67% demonstrated improved math proficiency on two skills, indicating positive outcomes from using ABii. Laura’s background in the education technology space, including experience with renowned products like “Reader Rabbit,” positions her as a knowledgeable entrepreneur in the industry.
The Negotiations:
The Sharks expressed concerns about the novelty of the product and the competitive landscape. Despite positive feedback on ABii’s effectiveness, some Sharks hesitated due to the early stage of the business and the challenges associated with selling educational products to schools. Lori Greiner raised doubts about the market’s reception, given the competitive nature and existence of similar products on iPads and computers.
Mark Cuban and Kevin O’Leary emphasized the difficulties of penetrating the education market, citing their own experiences. While Laura passionately defended the product and highlighted ongoing partnerships with schools and Boys & Girls Clubs, the Sharks were cautious about re-entering the challenging world of educational product sales.
Ultimately, none of the Sharks made an offer, citing concerns about the lengthy sales cycle, the competitive space, and the uncertainty of market acceptance. Despite the lack of a deal, Laura remained determined to continue the journey, emphasizing the potential impact of disruptive technology on the future of education.
