Loctote Industrial Bag - Shark Tank Update

Security-focused travel innovation originated from urban safety concerns when entrepreneurs recognized that traditional bags and backpacks provided virtually no protection against theft, slashing, or tampering, inspiring them to develop the Loctote Industrial Bag as the world's first theft-resistant drawstring pack that would give travelers, students, and urban professionals real peace of mind through advanced materials and innovative security features that could withstand determined theft attempts. Their revolutionary approach combined military-grade materials with practical everyday functionality, creating bags constructed from cut-resistant fabrics, reinforced with steel cables, and equipped with integrated locking systems that could be secured to fixed objects, while maintaining the lightweight portability and stylish appearance that made them suitable for daily use in cities, schools, gyms, beaches, and travel situations where security was paramount but bulky solutions were impractical.

Seeking $150,000 for 5% equity and valuing their security innovation company at $3 million, the entrepreneurs entered the Tank with compelling product demonstrations, proven materials testing, and clear market demand from security-conscious consumers who needed portable protection for their valuables in increasingly urban and travel-heavy lifestyles where traditional bags offered no deterrent against opportunistic theft or deliberate targeting.

The sharks showed immediate fascination with the Loctote Industrial Bag's impressive security demonstrations, watching as the entrepreneurs attempted to cut through the bag with knives and scissors to prove its cut-resistant properties, though some expressed concerns about the target market size and whether consumers would pay premium prices for security features when cheaper alternatives existed, while others recognized the growing importance of personal security in urban environments and travel situations where bag theft had become increasingly common and costly. The negotiation process moved efficiently as Robert Herjavec recognized both the innovative technology and the market opportunity, making an offer of $150,000 for 10% equity with an additional advisory component, terms that the entrepreneurs accepted after brief consideration, securing both capital and Robert's expertise in technology businesses and his extensive network of contacts who could help with distribution, manufacturing optimization, and strategic partnerships in the security and travel industries.

The post-Tank experience proved highly successful as the deal with Robert Herjavec closed as agreed and provided the necessary resources for scaling production and expanding distribution channels, while the national television exposure generated immediate consumer interest and validation from security professionals, travel enthusiasts, and urban dwellers who appreciated having a practical solution for protecting their belongings without carrying bulky security equipment or limiting their mobility and style preferences. We found that Loctote Industrial Bag has achieved solid success with approximately $3 million in annual revenue as of 2024, successfully expanding their product line to include various sizes and styles of cut-resistant bags, establishing partnerships with retailers and distributors, and building a loyal customer base among travelers, students, athletes, and urban professionals who value the peace of mind that comes from knowing their belongings are protected by genuine security technology that works in real-world situations while maintaining the convenience and portability they need for active lifestyles.The company appears to have been acquired by Nolk and products no longer selling their products.

As of August 2026 we found their webiste to no longer be working and a recent instagram posts about a new direction.