Ellavate - Shark Tank Update

Hauling children and gear across the beach inspired Megan Lancaster to develop Ellavate, an electric-assist stroller wagon. She asked the Sharks for $150,000 for 5% of the business.

Drawing on her background in medical-device hardware and software, she developed a wagon intended to make sand, hills, and other demanding terrain easier for parents to navigate. The demonstration made both the appeal and the concerns visible: guest Sharks Sara and Erin Foster tried the wagon, but an awkward moment when it moved away from them prompted questions about the wrist strap and additional safety controls.

Lancaster explained that a kill switch was in development, although Barbara Corcoran remained uncomfortable and declined to invest. The company had launched in March and sold out its initial shipment of 140 units to customers in 30 states, generating $225,000 in revenue.

At filming, the wagon retailed for $1,499, average orders reached $1,730 with accessories, and manufacturing cost was $595 at the initial order size. Rashaun Williams offered $150,000 plus a $150,000 line of credit for 15%, with a provision for receiving his investment back through distributions within two years.

Kevin O’Leary saw potential uses beyond transporting children and joined Williams to offer $300,000 for 20%. The Foster sisters offered $150,000 for 15%, arguing that their audience and marketing experience could help the product reach parents while they worked with Lancaster on price and safety concerns.

Lancaster pushed for less dilution, and the sisters reduced their request to 10%. She accepted their $150,000 offer for 10%, choosing the partnership she felt best matched the brand over the larger cash offer.

Ellavate’s current website gives prospective buyers more detail about the electric-assist system that drew both interest and questions in the Tank. The company describes handle sensors that activate assistance when held and apply braking resistance when released, with a claimed range of eight miles of active use.

Its listing also emphasizes washable fabrics, a folding frame, and accessories for family outings. As of early October 2026, the wagon is priced at $1,599 with a limited-availability $100 promotion.

These are the manufacturer’s current specifications; the site does not establish which features, if any, changed after filming. Megan Lancaster’s televised agreement with Sara and Erin Foster provides the latest investment milestone, while post-show sales and annual revenue remain unreported.