Hug Sleep’s Cozy Pods Win Over Mark Cuban on *Shark Tank*
Hug Sleep, a company specialising in sleep pods, appeared on Shark Tank season 12, episode 3. Founders Matt and Angie Mundt pitched their product to investors Lori Greiner and Mark Cuban. The couple sought £150,000 in exchange for 10% of their business.
The sleep pod is a cocoon-shaped design made from stretchy fabric. It uses Deep Touch Pressure (DTP) therapy to help users relax and sleep more soundly.
Matt and Angie Mundt launched Hug Sleep in February 2019 after struggling with their own sleep problems. Their product, a wearable sleep pod, wraps around the body to create a calming, hug-like sensation. The design includes a patented feature: an opening for one foot, allowing users to adjust temperature and improve comfort.
The pods come in sizes for both adults and children. Made from breathable, four-way stretch material, they provide gentle pressure while staying cool. On the show, the Mundts explained how the pod’s temperature control and soft fabric make it easy to wear all night.
Initially, the couple asked for £150,000 for a 10% stake in Hug Sleep. After hearing the pitch, Lori Greiner and Mark Cuban made a joint offer. They proposed £300,000 for 20% equity—a deal the Mundts accepted on the spot.
The agreement with Greiner and Cuban secured Hug Sleep a significant investment. The company now plans to expand production and marketing of its sleep pods. The product remains available for both adults and children, with options for customisable foot openings.
