#Keyless door lock shark tank update
#Keyless door lock shark tank Bluetooth

Phil Dumas was to hold 25 percent stock contingent on securing Black & Decker for proof of concept. Investor Robert Herjavec proposed an offering of $1 million in return for 75 percent interest in the firm. Phil shares he is an experienced veteran in the private equity field and that UniKey does not depend on a deal with Black & Decker. Can Phil Dumas Make a Deal With Black & Decker? What’s the problem?Īs in many cases, the deals made on the show fall apart in due diligence like Phil’s deal. Kevo’s security, smart Bluetooth, intelligence, and re-key technologies could be used to commercial access control, hospitality, government, and the enterprise, according to the business. UniKey intends to use the additional capital to expand beyond the Smart Home into larger industries that are projected to drive IoT adoption, such as Smart Commercial and Smart Enterprise. You can now refer to them as digital or eKeys.

#Keyless door lock shark tank Bluetooth

UniKey collaborated with lock manufacturers Kwikset and Weiser to develop Kevo, a smart lock that uses Bluetooth technology to open your door with your smartphone or smart fob, eliminating the need for keys. What happened to UniKey?Īs stated previously, the deal with Mark Cuban and Kevin O’Leary did not come to fruition, but UniKey landed venture capital in two rounds since the show. What’s the deal?ĭallas Maverick’s owner Mark Cuban tells Barbara Corcoran, “I love you Barbara, but this isn’t your wheel strength.” He takes up Kevin’s offer but modifies it saying he is putting up $400,000 for 45% of the company. In 2012, Phil Dumas presented his company, UniKey on Shark Tank Season 3 Episode 12. The offer was accepted by Dumas, but they were unable to reach an agreement after the show.

UniKey accepted investment offers from two of the sharks on the show, including a $500,000 offer from Mark Cuban for a 40% interest in the company. UniKey Technologies first gained national attention in May 2012, when Dumas participated in ABC’s reality show Shark Tank. Unikey Technology was founded by him, a company that incorporates traditional house locks with smartphone technology. His business is Unikey Technologies, and he identified himself as such. So he was able to create a mobile phone application that included the lock feature. The invention he created used his experience to eliminate the need for a standard key. The engineer holds a bachelor’s degree in electrical engineering and a master’s degree in biotechnology.

He started UniKey in an effort to create a more dependable and convenient way to access everything. Phil Dumas, the president, and chief executive officer of UniKey Technologies, started the company in 2010 in Florida. UniKey, a company based in downtown Orlando that employs around 50 employees, developed a lock system that allows customers to open a door using a mobile application or by touching it. UNIKEY is an electronic lock controlled by a smartphone or a specific key pin. The company also has partnerships with MIWA Lock Company, Grosvenor Technologies, Nortek Security and Control, and ERA to provide keyless entry services to hotels and commercial buildings, as well as expanding its worldwide reach. UniKey’s Inside/Outside Intelligence feature, which recognizes whether a confirmed device is currently inside or outside the home, is a key security component of the product. Kevo, which was released in 2013, is a Bluetooth-enabled touch-to-open smart lock that can lock and unlock the door using a compatible smartphone or tablet through an app, and also comes with a keychain fob that works in the same way. They offer a system that allows users to unlock their doors electronically via a smartphone or other device, eliminating the need for physical keys. What is the collaboration between Kwikset and UniKey?.What products are UniKey currently producing?.What is the difference between traditional keys and smart keys?.What is the first venture capital firm to place money in UniKey?.Can Phil Dumas Make a Deal With Black & Decker?.What Happened To UniKey After Shark Tank?.

#Keyless door lock shark tank update

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UniKey Shark Tank Update | What Happened To UniKey after Shark Tank?.