Roq Innovation is an Illinois based innovation company that develops problem solving products. This is the aim of the company, This company makes human life easier through its products. Roq Innovation Company’s Popular Product Headlightz Cap, Beanie and Headband.
Roq Innovation Company was launched by Raquel Graham in 2014 with the new product Nekz (Neck Wrap Scarf). Raquel launched her first product as a solution for her kids.
Raquel has launched “Headlightz Beanie” as her second product and by wearing this Beanie people can become visible in the dark. This product was sold nationwide on HSN from 2017 to 2022.
This company needs a lot of funding to grow so Raquel appeared on Shark Tank Season 13 Episode 11 and asked the sharks for $200,000 for 15% equity at $1.3 Million Valuation.
What Is Roq Innovation?
Roq Innovation is an innovative company that aims at inventing problem solving products. This company started with Nekz’s scarf product and after that it launched Headlightz Beanie’s product.
Currently it has a variety of products associated with Headlightz such as baseball caps, Beanie and headbands. Still this company is selling Nekz Scarf.
Headlightz is a detachable LED light and it can be charged through powerbank and laptop through USB. This led light is lightweight and can last up to 8 hours on a single charge.
Headlightz can be a great product for outdoor activities like running, biking, hiking and many more. Baseball caps cost $30, Beanie cost $24.99 to $29.99, headbands cost $24.99, and Nekz $40.
You can buy these products from Amazon and company website.
|Company Name||Roq Innovation|
|Product||product innovation company|
|Asked For||$200k for 15% Equity|
|Final Deal||$200k for 20% equity + a royalty of $1 per unit until $600k is paid|
|Shark||Peter Jones and Kevin O’Leary|
|Episode (Shark Tank USA)||S13 E11|
|Air Date||Jan 14, 2022|
|Business Status||In Business|
|Headquarters||Chicago, Illinois, United States|
|Lifetime Worth (Sales)||$5.5M *estimated|
|Go To Amazon||Buy Now|
|Watch On||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Roq Innovation?
Raquel Graham is a Black Entrepreneur and Founder & CEO of Roq Innovation Company. She started this company in 2014. Raquel has been featured in Oprah Magazine, Forbes and many more.
Raquel is a marketing expert and has kept a success track record in each of her products so far. She has made ROQ Innovation Company successful through her marketing skills.
She Was working as Director of Marketing at Ebony Media while pursuing her MBA In Marketing at Northwestern University. She has worked in marketing for almost 17 years.
Roq Innovation Before Shark Tank
This company was launched with its first product NEKZ. Raquel made this product for children, but seeing the demand of the product, she launched nekz for men and women.
In 2016, this product aired on the Home Shopping Network (HSN) and sold out within a few hours. “Headlightz” was launched in November 2017 and is a perfect product for outdoors activity.
For 5 years “Headlightz” has been a top seller on HSN and all the products were getting sold out very fast. This product was featured in many media publications like Good Morning America, View Your Deal and many more.
How Was The Shark Tank Pitch Of Roq Innovation?
Raquel Graham enters Shark Tank with her product innovation company and asks the sharks for $200k for 15% equity. She fully explained the shark about her product so that she could get the investment. Taking the example of a dog, she told Shark about her Headlightz product.
This company’s lifetime sales is $2.4 million. Last year, Headlightz had sales of $1.1 million. Raquel is projecting $1.7 million in Headlightz sales this year.
The average selling price of the product is $19.9. Raquel sells this product in HSN and on her website. Her typical order size is $25k to $40k combined with HSN and the website.
She has patent pending since 2018. Kevin O’Leary made an offer of $200K for a royalty of $2 per unit until $200K is paid, then royalty drops to $1 is perpetuity.
Peter Jones said he can help sell this product to the world, offering $200k for 25% equity. Lori Greiner said she’s done something similar, so she’s out. Mark Cuban said that clothing is not for him, so that’s reason he is out.
Daymond John said that he wants to offer but there is a big challenge that the patent of the product is not there yet, so he is out. Peter and Kevin together offer $200k for 20% equity + a royalty of $1 per unit until $600k is paid. Raquel said deal.
Finalize: Peter Jones and Kevin O’Leary invest $200k in Roq Innovations for 20% equity + a royalty of $1 per unit until $600k is paid.
What Happened To Roq Innovation After The Shark Tank?
Roq Innovations got a successful deal in Shark Tank. Both Peter and Kevin invest in this product innovation company. As Peter said, he will help in taking the brand globally.
The Headlightz LED Baseball Cap has been included in Oprah’s Favorite Things for an Outdoor Enthusiast in Your Life 2022 list.
In My 2022, Roq Innovation Company has won the title of Chicago 2022 Minority Supplier of the Year. After the business has grown, the founder has left the Chicago warehouse and is doing work related to product ship etc. at these new warehouses.
For many years, Raquel has been working with Girls Inc as a mentor in product development and entrepreneurship.
What’s New on ROQ Innovation
In October 2022, Raquel was featured on the Amazon home page in the Black Owned Businesses category. This company's products are also available on Amazon, HSN and Shop website as well as other retail stores such as Tortoise & Hare, Queen Elizabeth Ladies Gaudy Fashions, Luya Shoes, Seliga Shoes and more
Roq Innovation Shark Tank Update
This innovative product development company got a deal on Shark Tank even though Kevin O’Leary made Raquel cry by calling her “Crazy Chicken”. Kevin had invested $100k in this company.
Founder Raquel said that she would do $1.7 million in sales by the end of 2021. There is no evidence yet whether Kevin and Peter have closed the deal or not.
We’re following Raquel Graham along with her company for further updates.
What Is Roq Innovation Net Worth?
Roq Innovations is Worth at $1 million and this company has been performing very well since 2014. Founder Raquel’s goal is to create a product that is not in the market and solves people’s problems. That’s why she is always on the lookout for some new ideas.
Is Roq Innovation Still In Business?
This company invents products as a solution to make people’s lives easier. Raquel’s, the founder of this innovative company, is a marketing expert and has marketed her products nationwide.
Raquel and her products have been featured in many popular media publications such as Oprah Magazine, Forbes, Good Morning American, HSN, Entrepreneur and many more.
The headquarters of this company is in Chicago, Illinois, United States and 2 to 10 people are working in it.
Yes, Roq Innovation is still in business as of January 2023.
Roq Innovation: Latest Deals, Promo Code & News
Follow @Sharktanktalks account for latest Shark Tank deals, product promo codes, offers & more.
frequently asked questions
Did roq innovations get a deal on Shark Tank?
Yes’ Roq Innovations got a deal in Shark Tank.
How is Roq Innovation doing now?
The baseball cap, a product of Roq Innovation, has made it to Oprah’s Favorite Things for an Outdoor Enthusiast in Your Life 2022 list.