Pronto Concepts is a company from San Francisco, CA, that has created a product that will instantly cool wine to the correct temperature.
The ProntoBev is a decanter into which wine can be poured for chilling. When the wine is put into the decanter, the product will begin chilling the beverage. It also features a thermometer to judge whether the correct temperature has been reached. When the beverage reaches the desired temperature, it is supposed to be poured back into the bottle from the device or it will continue to chill.
The entrepreneur claims it can bring down the temperature down twenty degrees in thirty seconds.
The device the entrepreneur demonstrated was not yet in production and but was a working prototype. "Just to let you know that this prototype is not food grade but it should be safe... I drink from it all the time," he stated.
In terms of financing, the entrepreneur ran a successful Indiegogo campaign in two months seeking $25,000 but raising $54,000 instead. For those who helped fund the campaign, the device could be had for $99 per unit.
When the product goes into manufacturing, the expected price will be $120 per unit with a $22 per unit manufacturing cost.
The entrepreneur stated that the product had been issued a provisional patent.
Prior to starting the company, the entrepreneur studied entrepreneurship at Arizona State.
This deal aired on Episode 9.11.
Making A Deal
Mark swept in with a last minute offer, rescuing the entrepreneur from Mr. Wonderful. He offerred the $100,000 for 25%. Considering that the originally offered deal was for just 5%, this represents a bite of of $1,600,000!
Additionally, Mark added a contingency to the deal that the entrepreneur needed to raise an additional $100,000 from other investors for additional products.
- Though the entrepreneur stated that a provisional patent had been issued, searching the USPTO website reveals no matching patents.
- According to the investor page on the website, Pronto Concepts met and exceeded Mark's contingency (source)