Since filming for our appearance on Dragons’ Den, we’ve been offered more than £500k in funding by professional investors and have sold over £100k worth of products in six countries across Europe.
Clearly we weren’t faced with any difficult decisions between rival Dragon offers! But in subsequent investor meetings, our technology’s potential as an advertising platform came across far more clearly, and investors were more than enthusiastic.
Six weeks after filming in the Den, we pitched to a room full of 70 professional investors in the City, where we were voted the No.1 pitch from 32 entries and left with a handful of business cards.
In fact, since filming the episode in May we’ve secured over £500k in funding offers, more than double the amount we sought in the Den – and at exactly the same valuation.
It’s clear the Dragons viewed our units as fun toys that some people might buy, rather than highly-targeted advertising platforms that enable brands to engage with a notoriously hard-to-reach demographic.
But companies like marketing and advertising giant Ogilvy – who have installed units in their London offices – have been quick to grasp the potential. The fact is venues buy our units because they offer a unique and memorable way to communicate with customers.
Since filming, we’ve also sold more than £100k worth of units to venues across the UK and Europe, to customers who are universally delighted – I’ll let them explain here. Our sales pipeline is also bulging with enquiries from airports, bars and hotels even further afield.
So, while it’s too early to declare victory (and there are a lot of the world’s 100m urinals still to cover!) we’re on a very exciting path. There’s a lot of demand for our product and the vast majority of people we speak to think it’s a great idea – not just venue owners, but advertisers and the press.
So the Dragons’ lack of enthusiasm was a surprise. But we’re now in a great position, with some solid investors and a very exciting future. Some of you have already nominated your favourite venues – so watch out for something completely different next time you pay a visit!
Founder, Captive Media