ChessUp is an AI-powered smart electronic chessboard designed to help players learn and improve their game. The board suggests possible moves by highlighting them in different colors: red for a wrong move, blue for a mistake, and green for an excellent move.
When you touch any piece, the possible moves are highlighted in these colors, and once the move is made, the highlight disappears.
The board adapts to your skill level—treating beginners like beginners and experts like experts. It supports both online and on-board play, highlighting your opponent’s move when playing online, so you can respond accordingly.
Through the ChessUp mobile app, you can analyze all your previous moves and strategies. The board also allows you to adjust your skill level as you progress.
Priced at $299, ChessUp is available for purchase on Amazon.
| Company Name | Bryght Labs |
| Founder | Adam Roush, Jeff Wigh and Justin Farrell |
| Founded | 2020 |
| Product | Learn Chess through AI smart device. |
| Asked For | $300K for a 5% equity |
| Final Deal | $300K for 5% equity + pay back 3% of every sale until paid back 1.5 times $450,000 |
| Shark | Lori Greiner |
| Episode (Shark Tank USA) | S14 E9 |
| Air Date | Dec 9, 2022 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Overland Park, Kansas, United States |
| Lifetime Worth (Sales) | $31 Million *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Bryght Labs?
The three co-founders of Bryght Labs are Adam Roush, Jeff Wigh, and Justin Farrell. The idea for their smart chess product came to Jeff Wigh while playing chess with his daughter.
Jeff Wigh
Wigh is the co-founder and CEO of Bryght Labs, with expertise in research and development. He founded the company after completing his MBA from the Massachusetts Institute of Technology. Over the years, he has worked at various companies, including Allegro MicroSystems, LLC, Herzog, and Garmin International.
Adam Roush
Roush is the co-founder and Chief Design Officer of Bryght Labs. He holds a B.F.A. from the University of Kansas and spent six years as a product architect at Garmin.
Justin Farrell
Farrell is the co-founder and Chief Technology Officer of the company. He previously worked as a senior design engineer at Garmin for nine years.
The three co-founders met while working together at a previous company.
How Was The Shark Tank Pitch Of ChessUp?
Adam and Jeff entered Shark Tank seeking $300,000 for 5% equity in their company. They presented a video demonstration of their AI-based chessboard and explained how the product works.
The retail price of the chessboard is $399, with a landed cost of $120. Robert Herjavec questioned why the chessboard seemed slow, suggesting that its speed could be increased. Jeff responded, via video, that the board is capable of supporting fast chess.
Jeff also revealed that they raised $1.7 million through Kickstarter and have made over $400,000 in sales without spending any money on advertising.
Barbara Corcoran stated, ‘This is a business I can do nothing for,’ and decided to opt out. Jeff shared that 50 million people play chess online, while more than 600 million play chess worldwide.
Mark Cuban expressed that the chess market wasn’t large enough for him, and he too decided to opt out. Jeff then projected that their sales for the year would reach $1.4 million.
Kevin O’Leary commented that the current cap table and structure were too complicated for him, so he passed on the deal as well.
Lori Greiner asked how she would get her money back if she invested $300,000 for 10% equity. Jeff proposed a royalty deal, offering Lori $300,000 for 5% equity, plus 3% of every sale until she recoups 1.5 times her investment, totaling $450,000. Lori agreed to the deal.
Finalize: Lori Greiner invests $300k in ChessUp for 5% equity + pay back 3% of every sale until paid back 1.5 times $450,000
ChessUp Shark Tank Update
Adam and Jeff delivered an excellent presentation on Shark Tank, making a strong effort to convince the sharks to invest. However, Mark Cuban, Kevin O’Leary, and Barbara Corcoran all declined to invest in their business.
Lori Greiner, however, struck a royalty deal with the company, securing an investment. In the future, this AI-based chessboard system is expected to help chess players of all levels improve their skills.
Woohoo! I am so proud of @BryghtLabs and my brother-in-law Jeff Wigh. Awesome you got a deal with the amazing #SharkTank @LoriGreiner … love that you built ChessUp for families wanting to learn with built in AI. #Entrepreneur
Amanda Landes Adkins
As of February 2023, there has been no further public information about the business. Jeff Wigh, the founder of Bryght Labs, is focused on growing the company.
During their Shark Tank pitch, co-founders Adam Roush and Jeff Wigh presented their product in a straightforward manner, sharing detailed information about its unique features and AI capabilities to secure funding. Jeff had projected that their product’s revenue would reach $1.4 million in 2022.
We are continuing to follow Adam Roush, Jeff Wigh, Justin Farrell, and their company for future updates.
What Is the Net Worth of ChessUp?
This smart AI-based chessboard makes learning chess easy, especially for beginners. The company generated substantial crowdfunding on Kickstarter, and the co-founders disclosed their revenue during their Shark Tank appearance.
After analyzing various factors, we estimate that Bryght Labs is worth between $1 million and $2.5 million.
Yes, Bryght Labs is still in business as of April 2024.
