Key Points:
- Investment: £100,000
- Investor: No deal made
- Equity Offered: 10%
- Business: Aquatina, a refillable reusable pocket water bottle
- Target Audience: Kids, corporates, and sports and leisure markets
- Challenges: Market penetration, product convenience, environmental impact
A Fiery Pitch on Dragons' Den: Aquatina’s Reusable Water Bottle Fails to Secure Investment
Introduction
In a recent episode of Dragons' Den, environmental entrepreneur Guy Jeremiah pitched his innovative product, Aquatina, a collapsible refillable water bottle aimed at reducing environmental waste. Despite a confident presentation and a compelling environmental mission, the pitch did not secure the desired £100,000 investment for a 10% equity stake in the company.
The Pitch
Guy Jeremiah, the managing director of Aquatina, began his pitch by highlighting the environmental issues associated with disposable plastic water bottles. He explained that Aquatina offers a solution by providing a reusable bottle that can be conveniently carried in a pocket. Priced at £4.99, the bottle is designed to be an eco-friendly alternative to the billions of single-use bottles discarded each year.
Dragons' Reactions
Despite the strong environmental message, the Dragons had several concerns:
- Misleading Market Comparison:
- Peter Jones criticized Guy for initially presenting the solution as targeting the $80 billion bottled water market, when in fact, it was aimed at the much smaller $2 billion reusable bottle market.
- Product Viability and Market Penetration:
- James Caan questioned the financial viability of the business, noting that Aquatina had only sold 340 units, generating £702 in revenue, which seemed insufficient to justify a £1 million valuation.
- Convenience and Practicality:
- Duncan Bannatyne and Theo Paphitis both highlighted the inconvenience of using the Aquatina bottle compared to traditional single-use bottles. They argued that the collapsible design might not offer the practical benefits consumers seek.
- Environmental Impact:
- Debra Meaden pointed out that the environmental credentials of Aquatina were not as strong as claimed. She noted that it takes three uses of Aquatina to offset the carbon footprint of a single-use bottle, questioning the overall impact of the product.
Conclusion
Despite a passionate pitch and a clear environmental vision, Guy Jeremiah’s Aquatina did not manage to secure investment from the Dragons. The concerns raised regarding market strategy, product convenience, and environmental impact ultimately led to a unanimous decision against investing in the company. This encounter underscores the challenges that innovative eco-friendly products face in balancing practicality and market viability with their environmental mission.