RTL
With a squeezable titanium water bottle, the founders of Keego can secure a deal with two lions. However, the investors haggle out a hearty share of the company.
The conventional sports bottle is a thing of the past. At least that’s what the Swiss Lukas Angst and his partner Bernd Deussen from Vienna want. After four years in development, they pitched their titanium drinking bottle at «Lion’s Den» last night.
Under the name of Keego Do you want to replace the old plastic sports bottle: Your product is squeezable, light and durable. “With our innovation, we make plastic drinking bottles look pretty old,” said the 39-year-old founder Lukas Angst. “Regardless of the sport, everyone has top equipment, everything is high-tech – except for the bottle.”
Deussen adds: “Plastic affects the taste, tends to mold and thus also promotes a throwaway culture.”
The wish of Angst and Deussen? 380,000 euros for 12 percent company shares. They want to use the money to open up other markets and, above all, to cause a stir internationally.
The business partners have already invested more than 700,000 euros in the development of the titanium drinking bottle. Keego also promotes clean and sustainable drinking, which can not only be used in sports.
A bottle costs around ten euros to produce, while it sells for 39 euros.
Angst and Deussen praised the longevity of the bottle, but Löwe Nils Glagau was not convinced. When he bends the bottle, a white fracture becomes visible. The founders put it into perspective: “That’s just a technical term, titanium can withstand it.”
Glagau remains skeptical, as does Ralf Dümmel, who has already invested in a similar product. Judith Williams also expresses concerns that alternative drinking bottles made from hemp or other renewable materials could compete with Keego.
All three are out with it.
More shares, but in a double pack
The lions Carsten Machmeyer and Georg Kofler have a different opinion. They face the Keego founders as a team – and tell them right away that they are not satisfied with the 12 percent.
They want 25.1 percent of the company shares.
After a break in consultation, Angst and Deussen give them 18 percent, but even that isn’t enough for the lions. Finally they agree on 20 percent, the Keego founders are obviously happy to finally be able to realize their dream.