Is Benjilock Worth the Money?
Benjilock is an innovative hybrid padlock developed by Robbie Cabral of Advertisement management to use either keyed access or fingerprint recognition technology.
He initially developed his concept at the gym, where he went to relieve stress and monotony from life. He presented it on Shark Tank and received an investment of $200,000 from Kevin O’Leary in exchange for 10% ownership in his company.
Early Life and Education
Robbie Cabral, the creator of Benjilock, designed an innovative padlock which uses biometric technology to open with your fingerprint. He appeared on Shark Tank hoping for investment funds to market the device and increase market visibility.
Cabral says his invention came about after joining a gym and witnessing people struggling in its locker room due to forgetting combinations or losing keys, leading them to resort to cutting off locks with bolt cutters so their owners could retrieve their belongings.
At the Consumer Electronics Show (CES), Benjilock garnered significant attention and started making waves. Furthermore, Hampton Products International licensed them to sell their product at Walmart, Lowe’s Home Depot, and Amazon stores – thus giving Benjilock access to these channels of distribution.
Benjilock is an innovative hybrid lock designed by Robbie Cabral with extensive experience in advertising. He came up with his idea for it while drawing in his living room and then recruited an engineer locally to develop the prototype over three years.
He presented his invention at the Consumer Electronics Show and received praise and was awarded the CES Innovation Award. Inspired by friends, he decided to audition for ABC reality show Shark Tank.
Benjilock asked Kevin O’Leary for a $200,000 investment, in exchange for 10% of his $2 Million business, valued by him as being worth approximately $200,000. O’Leary granted Benjilock an investment as well as support to market their product effectively.
Achievement and Honors
Robbie Cabral developed the Benjilock padlock, a lock that can be unlocked with both traditional keys and fingerprint recognition technology. His inspiration came while doodling in his living room – searching for new ways to unlock locks.
He sought assistance from an engineer and spent three years creating a prototype. All this effort paid off when he submitted it to the Consumer Electronics Show (CES) and won a CES Innovation Award, opening up further opportunities such as being approached by casting director for ABC series Shark Tank.
Benjilock found success after appearing on the show; Hampton Products International bought all North American rights to his product and now sells it through Walmart, Amazon, Home Depot and Lowe’s.
BENJILOCK is an innovative smart padlock developed by Robbie Cabral that allows users to unlock lockers by scanning their fingerprint – similar to how smartphones unlock. First introduced at CES 2017, its popularity has seen exponential growth since appearing on Shark Tank; currently boasting 14,000+ Facebook followers!
An immigrant entrepreneur informs the panel that he regularly visits his gym to maintain physical fitness and escape the pressures of daily life. Unfortunately, he soon noticed that stress was building up in the locker room as people began knocking on their lockers because they forgot the combination or for whatever other reason. This realization inspired his fingerprint-based lock design.
Benjilock is a smart padlock hybrid technology company founded by Robbie Cabral who recognized that gym-goers were experiencing added stress from having to leave their lockers to retrieve their belongings. He came up with this solution as an elegant solution.
The product has received many honors, including a CES Innovation Award in 2021. Furthermore, following their success on Shark Tank, Hampton Products International signed on as a license partner so their technology would be offered at Sam’s Club, Walmart, and Home Depot stores.
The Benjilock has amassed $4.5 Million in revenues so far. Robbie Cabral appeared on Season 9 and received an investment of $200,000 from Kevin O’Leary for 15% equity in his company.