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No sweat: High-tech T-shirt brand Neat survives ‘Shark Tank’ and lands $400K deal with Lori Greiner

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No sweat: High-tech T-shirt brand Neat survives ‘Shark Tank’ and lands $400K deal with Lori Greiner

If Jim Huffman and Tyler Stelter were sweating during their pitch on ABC’s “Shark Tank,” their T-shirts didn’t show it. It probably helped them land a deal.

Huffman is CEO and Stelter is COO of Seattle-based Neat, which makes shirts designed to hide sweat. They survived a grilling from the Sharks on the popular reality TV series and secured an investment from Lori Greiner on Wednesday night’s episode.

Greiner agreed to invest $400,000 for a 15% stake in the company, plus 75 cents per order until she earns back her investment. Huffman said the deal is still being finalized.

“I love the product. I’m gonna be a huge customer,” Greiner, an inventor and longtime QVC personality, said on the show. “I already have 10,000 ideas of videos we’re gonna do.”

“It felt like a business knife fight,” Huffman told GeekWire on Thursday. The most intense part, he said, was negotiating with several Sharks at once while doing revenue-share math in his head.

Neat sells T-shirts and other tops lined with a patented “Sweat Maze,” a pattern of water-repelling and water-attracting zones that pulls moisture inward and spreads it across the inside of the shirt so it dries before it shows through.

The technology came out of research funded by the National Science Foundation and was originally developed for military personnel, firefighters and first responders.

“Shark Tank,” now in its 18th season on ABC, features entrepreneurs pitching their businesses to a panel of wealthy investors, known as Sharks, in hopes of landing an investment in exchange for a stake in their company.


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