Grypmat Net Worth – Inventor Tom Burden

Inventor Tom Burden pitched his invention, Grypmat, on the TV show Shark Tank. This product is a non-slip, flexible tool mat that helps mechanics and other workers keep their tools in place. It is made of a special material that has a high degree of elasticity. This allows the mat to grip onto virtually any surface, making it very useful for mechanics.

Burden invented Grypmat in 2013. He was a military f-16 technician in the US Air Force, and he was frustrated by how often his tools would slip off of planes. He wanted to find a solution for the problem, so he redesigned a tool mat that would hold all of the tools. He created a Kickstarter campaign to raise the funds he needed to launch his product. He raised more than $113,000 from supporters, and he was able to successfully launch his product.

Burden decided to move his business to large-scale production. The company went through trade shows and tradeshows to sell their product. It was also sent out to various countries. The company received a New Product Award at the National Hardware Show and a Gold Medal at the Edison Awards. The product was also featured on Shark Tank, and sales have grown tenfold since the show.

Sir Richard Branson, owner of Virgin Airlines, was immediately interested in Grypmat. He invested $360,000 for a 30 percent stake in the company. He also offered to take over the sales, servicing, and back office for the company. Branson is also helping with international distribution. Lori Greiner, another investor in the business, invested $360,000 for a 20 percent stake in the company.

Grypmat has earned a number of prestigious awards since it was introduced on Shark Tank. It was also included in the Forbes 30 Under 30 list. It has been awarded many epoch-making prizes from presidents, noble individuals, and world-class universities. The Grypmat also received a Gold Medal from the Edison Awards. It is currently being used by several electric race teams. It has also been featured on a Virgin space company.

Burden also won first place at the Toledo Startup Weekend. He has also received several business competition grants. He has been awarded over $100,000 in grants. He has also invested $40,000 of his own money in the business. He plans to invest $200k more in inventory. He wants to increase his retail footprint and add more Grypmat-compatible products. He hopes to be able to increase his net worth to a couple of million dollars by the end of the year.

Grypmat is still in business as of January 2022. It has a website and a Facebook page. It is also available through trade shows and other retail outlets. It has won several awards, including the Gold Medal from the Edison Awards, a New Product Award from the National Hardware Show, and a Silver Medal from the National Science Foundation. Currently, the company expects to generate $4 million in revenue this year.