Eco household products challenger Seep has walked away from the Dragons’ Den with two offers, including from guest investor Trinny Woodall.
Founder Laura Harnett secured £50k in return for a 4% stake from Deborah Meaden and Woodall in the latest edition of the BBC One programme, aired this evening.
Seep has grown rapidly since launching 2020 with the range of plastic-free range of sponges, cloths and gloves already stocked across Tesco, Ocado, Robert Dyas, Lakeland, Booths, Planet Organic, Whole Foods Market, Amazon and Oxfam.
Revenues at the sustainable B Corp brand were expected to reach almost £2m in 2024, with more than one million of the bestselling eco sponge scourers sold so far as Harnett continues her mission to stop one billion plastic cleaning products ending up in landfill by 2030.
Harnett said the backing of the dragons would help take Seep to the next level.
“So many people don’t realise what they use to clean their homes is simply clogging up landfill,” she added.
“When I found out that Trinny was going to be a guest judge on our episode, it felt like the biggest opportunity ever. I’ve been a huge fan of her for years, even more so now that she’s built a global beauty brand from scratch in her 50s – she’s incredible. Having her and Deborah Meaden say ‘yes’ was the single biggest confidence boost that I’m on the right track.”
It was the only investment made on the episode by guest dragon Trinny Woodall, who became a household name thanks to presenting the BBC show ‘What Not to Wear’. Her Trinny London beauty business, launched in 2017, is also worth £180m.
“I was impressed by Laura from the outset – she has a true entrepreneurial vision, and this shone through when she pitched her business plan,” Woodall said.
“I connected with Laura’s drive and determination to create, set up and launch a brand with a clear mission, not only to sell products but also to disrupt an established category – a vision I share, and one of the key reasons I chose to invest.
“I immediately saw the potential to take Seep to the next level. Laura exudes the commercial mindset that will drive success for her brand, create long-term growth and consumer changing behaviour.
“Seep is already on a great journey and I’m excited to be working with Laura and her team.”
Harnett appeared on the same episode as Love Sum founder Sandy Tang, who secured a £50k investment from Peter Jones.
The pair follow fellow fmcg brands Doughboys Pizza and Dot Dot Bubble Tea securing offers earlier in the 22nd series of the show.
Harnett’s plans for Seep now include growing the retail distribution and online sales further, while also investing in new product development.
“What happened in the den is an example of what happens in the world of investments generally,” Harnett added. “It tends to be women who back other women and there aren’t enough women in the investment world able to support the entrepreneurs of the future. Less than 2% of the investment available goes to female-founded businesses and I hope that having great women on high profile shows such as Dragons’ Den helps to address this.”
Seep is also backed by Cartier Women’s Initiative, Amazon and Innovate UK.
The business raised £750k in seed funding at the end of 2023.
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