30 August 2011 17:41
Entrepreneur Kate Castle told Startups she felt “shell-shocked” after receiving a £50,000 investment from Theo Paphitis in the latest episode of Dragons’ Den.
Having wowed the Dragons with her invention, BoginaBag – an outdoor deckchair which converts into a portable toilet for campers and festival-goers – Castle received offers from three Dragons, before eventually choosing Paphitis for his vast retail experience.
Speaking about her experience on the show, which was filmed in May, Castle said:
“I felt shell-shocked. You’re in there for an hour and forty five minutes and it’s a huge build-up. I walked out of there thinking, ‘What just happened?’
“Once you’ve filmed, it’s strange because you’ve filed a non-disclosure agreement, so I haven’t been able to talk about it much. The summer’s my peak season so I’ve just carried on as normal, going to festivals and selling through my own website.”
Sealing the deal
Castle told us she has met Paphitis three times since the deal was agreed, and he has provided a wealth of ideas and support for her business,which has only been trading for 16 months.
She said: “We went through the due diligence process following the show, and the deal was signed and sealed in early August – the first of Theo’s investments from this series to complete.
“Theo’s been great – exactly as he comes across on TV. Good fun but very focused, with great ideas about where he sees the business going . He has some ideas about going international and has raised with me the fact that, at the moment, I have a very seasonal product and we need to look at flattening that out.
“We’ve also been filming for the follow-up series, which follows the investees after the Den. We’ve even been filming at a festival with Theo, on our store!”
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