£100k Dragons’ Den investment for Rugged Interactive
Fowey-based fitness equipment innovator Rugged Interactive is enjoying its moment in the spotlight following a high-profile investment from two celebrity investors.
Peter Jones and Deborah Meaden teamed up to offer £100,000 in exchange for 30% of the business following a roller coaster pitch on the BBC’s popular TV show Dragons’ Den. Built into the deal is an option for Rugged Interactive to buy back 10% at a later date.
“We were confident with our pitch and completely believe in our products but when under that much pressure, there were times when I thought we’d lost it,” said Simon Heap, Rugged Interactive’s founder and Creative Director, who led the pitch. “There were a couple of dodgy moments but luckily we managed to claw it back. It was a real privilege to go into the Den and showcase what we do.”
The ‘Dragons’ were clearly impressed with Rugged Interactive’s range of motivational fitness equipment, which makes the most of gamification to offer applications that add a competitive – and fun – element to getting in shape. Products showcased during the programme included applications for gyms, trampoline parks and climbing walls, offering a glimpse of just some of the ways this versatile technology can be utilised.
“I am so proud of the team I have working with me and the future looks more exciting than ever for Rugged Interactive,” added Simon.
And the exposure that prime time television offers is already paying dividends – the company’s website received 25% of its usual annual website traffic in just two hours following the show’s airing.
You can watch the full episode of Dragons Den here (the relevant section begins at the 40-minute mark) and read all about Simon’s experience in his own words along over at Rugged Interactive’s website.