Dragons’ Den Sequence One: The place Are They Now? 

Dragons’ Den has given us TV gold, and the traders a goldrush. Its most profitable pitches (together with hair sensation, Tangle Teezer and airport irritation, Trunki) are actually family names. And particular shout out to Startups-100 titan, Reggae Reggae sauce.

It’s simple to overlook that the present has solely been round since 2005. Right now, the format is acquainted to most Brits. However when it first aired, reviewers have been entranced by this wonderful alternative to look at enterprise pitches on prime time telly.

Forward of the present’s twentieth anniversary subsequent January, we’ve determined to examine the place the fresh-faced pitchers from Sequence 1 are right now (plus gawp on the floppy noughties haircuts of the unique Dragons). Discover out if the founders, and their companies, survived the den.

1. Charles Ejogo and Umbrolly, Episode 1

• Buyers: Duncan Bannatyne and Peter Jones
• Agreed quantity: £150,000 for 40% of fairness

Ejogo grew to become one of many first entrepreneurs to efficiently pitch to the Dragons, proving it’s potential to depart the den alive. Within the first ever episode, broadcast on 5 January 2005, Ejogo received over two traders together with his umbrella merchandising machine enterprise thought. Caught in a bathe? Merely pop in a coin and the machine will spit out a brolly to maintain your swimsuit dry.

Sadly, seven months later, Bannatyne and Jones took a rain examine, and the provide fell by way of. Ejogo was undeterred, and he was in a position to safe alternate angel funding, which he used to take Umbrolly to the US, France, and Germany in 2008.

Sadly, the solar stopped shining on Umbrolly in 2010. After shedding its UK working companion, it was compelled to dissolve. Now based mostly in Dubai, Ejogo is right now working at a journey startup.

2. Tracey Graily and Grails Ltd1, Episode 2

• Buyers: Doug Richard and Rachel Elnaugh
• Agreed quantity: £120,000 for 40% of fairness

Graily most likely wouldn’t have a lot success pitching her tailored enterprise fits for ladies right now, with versatile working having drastically modified how we costume within the workplace. 2005 was the period of The Matrix, nevertheless, and the Nehru swimsuit was in trend.

Richard and Elnaugh each fell for Graily’s pitch and invested £60,000 within the mother-of-two’s firm. Sadly, the provide fell by way of. Graily reportedly grew to become unwell, and the enterprise was wound up owing hundreds of kilos one yr later.

Graily arrange as a sole dealer in 2009 and started providing consultancy providers. Tragically, nevertheless, the businesswoman died after being hit and trapped by her personal automotive in 2012.

3. Tracie Herrtage and Le Beanock, Episode 3

• Buyers: Rachel Elnaugh
• Agreed quantity: £54,000 for 49% of fairness

Inside decor could possibly be.. questionable within the early 2000s. However Le Beanock (the beanbag and hammock hybrid we’d all been ready for) succeeded when Herrtage pitched it in episode three of the primary collection. She was supplied over £50,000 by the only feminine Dragon.

Regardless of the obvious blissful ending, nevertheless, Herrtage says she ended up £10,000 in debt as a result of the cash by no means got here by way of and no deal was signed. Possible, this was on account of Elnaugh’s firm Crimson Letter Days going into administration in 2005.

After going to her fellow Dragons Jones and Bannatyne for monetary assist, Elnaugh was unable to revive Crimson Letter Days and he or she agreed to depart the present one yr later. Firms Home filings present that the Le Beanock was dissolved in 2018.

4. John & Phillip Petty and IV Cam, Episode 3

• Buyers: Peter Jones and Doug Richard
• Agreed quantity: £50,000 for 30% of fairness

John Petty’s pitch was hardly easy. He failed to clarify clearly to the Dragons what his product (a digicam that might precisely measure 3D objects) did. Fortunately, Phillip Petty turned as much as translate the techtalk, and the brothers managed to safe a large windfall.

Nevertheless, a behind the scenes dispute with the Dragons meant that the deal finally failed. Jones and Richard needed to licence the tech, moderately than manufacture it. Unconvinced, the Pettys walked away, making use of for funding through a financial institution mortgage as a substitute.

The Dragons’ gold might need gone untouched, however the Pettys’ enterprise remains to be going sturdy right now, making it the primary enterprise to have escaped the Den, and nonetheless continue to exist.

5. Paul Thomas and Mycorrhizal Techniques, Episode 4

• Buyers: Simon Woodroffe
• Agreed quantity: £75,000 for 25% of fairness

Paul Thomas went digging for truffles and located them. Having appropriately recognized the large worth and market potential of those edible spores, he determined to purchase land to domesticate the UK’s first ever truffle farm — and visited the Dragons for assist.

Thomas was, sadly, ridiculed. Nearly the entire Dragons rubbished the thought and, regardless of receiving a proposal from Woodroffe, Thomas turned down the funding after the present.

To traders, Mycorrhizal Techniques is the truffle that rolled away. In 2015, Thomas’ firm harvested the first ever truffle cultivated from UK soil; a prize that guarantees an enormous payout for the enterprise. Thomas has since gone on to promote his thrilling invention internationally.

6. Elizabeth Galton Ltd, Episode 5

• Buyers: Duncan Bannatyne and Rachel Elnaugh
• Agreed quantity: £110,000 for 30% of fairness

In the event you haven’t seen Galton’s daring jewelry line, you’re in for a deal with. The 4 male Dragons have been perplexed by her large metallic cockroaches that resembled warped backyard ornaments. “I’m fully diverted by this bug in your chest”, mentioned a baffled Doug Richard.

Bannatyne and Elnaugh each agreed to speculate £55,000 every within the enterprise. Nonetheless, Elnaugh’s monetary woes meant Galton rejected her provide after filming and as a substitute secured the cash from one other personal investor. Rubbing salt within the wound, Elnaugh additionally reportedly wore Galton’s £3,000 design in a photoshoot with out cost, inflicting the 2 to fallout.

Galton’s wings seem to have been clipped by the monetary disaster, and the corporate dissolved in 2008. However she has since gone on to have a really profitable profession as a artistic director for a number of luxurious jewelry manufacturers, and is at present working as a marketing consultant.

7. Nik Rawcliff & Paddy Radcliff and Snowbone, Episode 6

• Buyers: Rachel Elnaugh
• Agreed quantity: £75,000 for 33.3% of fairness

Pitched by “radical snowboarder” Nik Rawcliff, the Snowbone boasted a discreetly designed handlebar that might flip as much as flip the board right into a BMX-style bike. Coming within the wake of video video games like SSX 3, it aimed to capitalise on rising snow sport mania.

Elnaugh agreed to place £75,000 into the corporate. Finishing a foul run on the funding slopes, nevertheless, she solely managed to place £25,000 into the model earlier than her personal enterprise collapsed, leaving Rawcliff and Radcliff looking for funding.

The duo fared nicely. In 2008, Snowbone even received £50,000 in a design competitors. Nevertheless, gross sales by no means fairly left the dry run, and in 2015, Firms Home filings present that the model grew to become dormant. Let’s hope Snowbone can kick-flip issues off once more quickly.

8. Huw Gwyther and WONDERLAND, Episode 6

• Buyers: Peter Jones
• Agreed quantity: £175,000 for 40% of fairness

Till the ultimate episode, Sequence 1 of Dragons’ Den was trying like a collection of failures and poor funding selections. Till, mercifully, Huw Gwyther got here together with Wonderland, a high-end trend and tradition journal, pitched below the title Visible Expertise Ltd.

Recognizing Gwyther’s clear editorial experience, Jones instantly leapt on the thought and it proved to be one in every of his greatest selections but. Right now, the journal has tons of of superstar followers, over a million followers on Instagram, and is estimated to be value round £220m.

Like Alice, Gwyther has written a fairytale ending with Wonderland. Now, he’s having fun with the outcomes. In 2023, he stepped down from directorial duties on the journal, and is working as a freelancer model developer. Nicely, at the least somebody bought their fortunately ever after…

20 years later

Sequence one won’t have introduced one of the best Return on Funding (ROI) for the Dragons. However enterprise is of venture. One winner in eight is a reasonably commonplace success price for traders.

Twenty years on, the Dragons can be hoping that Sequence 22 brings them a much bigger pot of gold to protect. And naturally we’ll be tuning in, to see which courageous entrepreneur can slay the Dragon and win funding for his or her subsequent nice enterprise.

Is it value assembly the Dragons? Amelia Christie-Miller, founding father of Daring Bean Co, offers us her sincere evaluation of Dragons’ Den and what it did for her enterprise.