Not every “Lion’s Den” story has a happy ending: Two current deals fell through after the show – one founder even had to completely scrap his start-up before it was broadcast.
“The Lion’s Den” can make founders’ dreams come true. But there is no guarantee of success even with a deal on the show. Founder Lars Hähling had to experience this with his start-up “Foodwater”. Even before his appearance was broadcast in the current issue of the start-up show, his company had already disappeared from the market. It is already the second such case in the current season, which was also no longer on the market at the time of broadcast.
The food water pitch in the “Lion’s Den” was actually a success. The 45-year-old presented a drink made from scalded vegetables that he had developed – natural and healthy. Four Lions were skeptical about the product’s chances of success, but Ralf Dümmel promised an investment of 75,000 euros.
After “Lion’s Den” appearance: Foodwater liquidated by the founder
But nothing came of the plans: Hähling scrapped the project at the end of last year and liquidated “Foodwater”, as he pointed out star-Request explained. According to Hähnel, the general economic conditions deteriorated dramatically last year after the start of the Ukraine war. Therefore, with a heavy heart, he decided to end the Foodwater project until further notice.
Almost-investor Dümmel also confirmed this starthat the deal failed for economic reasons. The increased raw material prices would have meant that the sales price of the product would have had to be doubled. “My lion heart hurts a lot and I am extremely sorry that we will no longer pursue the Foodwater project,” said Dümmel. “The entire team and I are still in friendly contact with Lars and wish him all the best for his future.”
eSelly deal with Janna Ensthaler collapsed
A second deal from the current “Lion’s Cave” episode ultimately did not materialize either. In the show, Janna Ensthaler promised an investment of 250,000 euros in the virtual flea market eSelly. However, the classifieds app has to continue without a lion deal. “There were various reasons why the deal didn’t go through,” explains Ensthaler when asked. “But the chemistry between us is right, we just met again yesterday and we are now looking at working together on other issues.”
Things went better for the founding brothers Michii and Martin Kopp with their start-up , whose deal with Ralf Dümmel continued after the show. ModulFix is a bungee cord system that is flexible in length and, in addition to hooks, also offers attachment options with magnets, Velcro and suction cups.
Two other quite interesting start-ups had to go home without a deal. The founder of Headwave, a sound system for motorcyclists and other helmet-wearing people, impressed with her fresh, sporty appearance. However, the company valuation of 375,000 euros for 12.5 percent of the company shares was too high for the lions.
And the robot from the start-up Bearcover, which is intended to relieve the burden on nursing staff, did not find an investor either. The robot, named “Oscar”, can patrol corridors in hospitals and nursing homes and, thanks to radar technology, can alert staff to patients who need help in their room. “Important topic,” emphasized the lions and it’s good that someone is dealing with it. But none of the investors wanted to deal with that themselves.
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Source: Stern
