Former entrepreneur and engineer Jared Ebersole gifted his nephew an electric skateboard and noticed that he was highly interested in understanding the technology behind it. This inspired Jared to team up with Luke St. Amand to create Lectec, a STEM Electric Vehicle Kit designed to help students build their own electric skateboard or scooter while learning about the gears, batteries, physics, engineering, and coding used inside.
They pitched their product on Shark Tank Season 16, asking for $100,000 in exchange for 10% equity, valuing the company at $1 million. After negotiations, they struck a deal with Robert Herjavec for $100,000 in exchange for 15% equity.
| Company Name | Lectec | |
| Founder | Luke st amand and Jared ebersole | |
| Founded | Nov 2022 | |
| Product | STEM Electric Vehicle Kit | |
| Asked For | $100k for 10% equity | |
| Final Deal | $100k for 15% equity | |
| Sharks | Robert Herjavec | |
| Episode (Shark Tank USA) | S16 E11 | |
| Air Date | Feb 7th, 2025 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | New York, New York, USA | |
| Lifetime Worth (Sales) | $200k *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Who Is The Founder Of Lectec?
Jared Ebersole sold the majority share of his first assembled electric skateboard kits company, Build Kit Boards, and invested $300,000 to launch Lectec. In November 2023, Luke St. Amand, a former Amazon employee, joined as the co-founder. Luke, a data scientist, has previously worked at companies like United Technologies and Amazon.
How Was The Shark Tank Pitch Of Lectec?
Luke and Jared entered Shark Tank with three school students and demonstrated their Electric Vehicle Kit to the sharks. They explained how the kit helps students understand electric vehicles and build them on their own.
Each STEM Electric Vehicle Kit includes all necessary parts and tools, along with a step-by-step instruction guide, allowing students to grasp the engineering concepts behind it.
The Basic Electric Skateboard Kit sells for $349.99, with a manufacturing cost of $149.
The company has been selling its product for 10 months, mainly targeting students in schools and campuses.
So far, they have generated $146,000 in total sales.
Jared shared that at the age of 15, he was passionate about electric skateboards, but their high price of $1,600 made it difficult for him to afford one.
Determined, he figured out a way to build his own, which later turned into a successful business—Build Kit Boards. The company generated millions in revenue, allowing him to fund his own college education.
Eventually, he sold the majority share of Build Kit Boards and invested $300,000 into Lectec to bring this new product to life.
He also revealed that they haven’t raised any external funding so far. The business is currently bootstrapped, meaning it has been self-funded without any outside investment.
Barbara Corcoran and Lori Greiner felt that this business wasn’t the right fit for them, so they decided to pass. Mark Cuban believed the business wasn’t scalable, so he also opted out.
Robert Herjavec found the idea of an electric vehicle assembly kit interesting and offered $100,000 for 25% equity. Meanwhile, Kevin O’Leary proposed $100,000 for 10% equity, along with a $10 per unit royalty until $500,000 was paid back.
Jared countered Robert’s offer with 15% equity, and after some negotiation, they struck a deal at $100,000 for 15% equity.
Breakdown Sharks Offer
Note: Here’s a quick summary of the offers and counteroffers between the Sharks and Luke st amand and Jared ebersole:
| Sharks | Offers |
| Kevin O’Leary | $100K for 10% + $10/unit until $500K |
| Barbara Corcoran | No Offer |
| Mark Cuban | No Offer |
| Lori Greiner | No Offer |
| Robert Herjavec | $100K for 15% equity |
| Founder’s (Countered) | $100K for 15% equity |
| Final Deals | $100K for 15% equity |
Lectec STEM Kits Shark Tank Update
After Robert accepted Jared’s 15% equity offer, the company’s valuation reached $667,000, making it an exciting deal on Shark Tank.
Apart from electric skateboards, the company also sells electric scooter kits. The Basic Kit costs $379.99, while the Starter Pack, which includes a helmet and protective pads, is priced at $429.99. Additionally, the website provides detailed video and image-based course content to help customers assemble their kits.
In January 2025, Lectec participated in FETC Pitchfest 2025 at the Future of Education Technology® Conference, but unfortunately, they did not win.
Currently, Luke, Jared, and their team are conducting a poll to gather customer feedback on which product they should develop next. Options include a mountain bike, street bike, go-kart, electric car, robot, wheelchair, and more.
What Is Lectec Net Worth?
The company has maintained a decent annual revenue over the past few years, and the founders are hopeful for high growth in the coming years. Based on current assets and sales, Lectec’s estimated net worth is between $700,000 and $1 million.
We are actively tracking this business for further updates.
