The pitch
What walked into the Den
Tegology appeared on Dragons' Den in season 13, episode 12, which aired in 2016, pitched by Spencer Turner.
In the pitch, Tegology asked the Dragons for £45,000 for 25% of the business, valuing the business at about £180,000.
After the show
What happened next
On air, Tegology agreed a deal of £45,000 for 25%, backed by Peter Jones. The terms are quoted from the aired episode as public record.
Our read
The Hub verdict
Peter Jones backing a camping stove that charges your phone is a tidy fit, and he took the deal at the founder's own terms. Spencer Turner asked for £45,000 against 25 percent of Tegology, a £180,000 valuation, and that is what closed, no equity haggled away in the process.
A single Dragon at the asking price often points to a product whose appeal is obvious on sight, and a stove that doubles as a power source for the outdoors market is an easy story to tell. The raise is small and the stake standard, which keeps this in classic early-stage territory.
Jones in alone, terms unchanged from the ask.
