‘Hot product of Christmas’ Philly’s ChompSaw scores a deal on ‘Shark Tank’

Dressed in astronaut gear and knight armor made of cardboard, Philadelphia-based entrepreneurs Max Liechty and Kausi Raman stepped into the Shark Tank spotlight to pitch their kid-safe power tool, the ChompSaw — a product that they now say is close to running out of inventory.

The University of Pennsylvania grads acquired $250,000 from investors Mark Cuban and Lori Greiner on the Nov. 8 episode of the hit ABC TV show.

“What kid wouldn’t want to use a power tool like this [ChompSaw] to make awesome stuff?” Raman asked the Sharks.

The ChompShop, a $230 mini saw available online, operates like a fast hole puncher, cutting cardboard by pinching away material piece by piece. The duo’s company, ChompShop, launched less than a year ago and has already sold nearly 10,000 units, earning $2.1 million in sales.

On Shark Tank, entrepreneurs can pitch ideas to investors for equity in the company. Liechty and Raman sought $250,000 for a 5% stake from the Sharks, including Barbara Corcoran, Kevin O’Leary, and guest star Rashaun Williams.

“Everything today is about tablets and computers and phones, and this takes you back to the basics of being able to work with your hands and be creative,” Greiner said on the show. “People are going back to that — the youth want tactile things and experiences.”

Both product designers, Liechty and Raman met during their masters programs at UPenn.

The idea for ChompSaw sparked in class, Raman told the Sharks. The goal of the class was to teach kids design thinking skills, so the two created ChompSaw as a solution for kids to play with cardboard and adults to upcycle cardboard boxes from online shopping.

O’Leary made the first offer, matching their funding request but demanding a 20% stake. Corcoran followed with a similar proposal.

But it was Cuban and Greiner, who presented a 15% stake combined, that sealed the deal.

“I think if you do this right, it is the hot product of Christmas,” Cuban said.