MySpirulina at DHDL: Deal with Maschmeyer and Williams comes about – but falls apart after the show.
Grow spirulina in your own kitchen. That’s the idea of Ben Schwedhelm (24) and Sara Farzaneh Nejad (25). With your startup MySpirulina Pitch a mini farm for the windowsill in the “Lion’s Den”. Their offer: 200,000 euros for 10 percent of the company shares. In the end there is a deal, but it doesn’t last.
For the non-longevity experts among us: Spirulina is a blue-green microalgae – more specifically a bacterium (cyanobacterium) – that grows in warm, alkaline waters and has been marketed as a so-called “superfood” for years.
Algae from the glass
The product is a starter kit that allows users to grow spirulina themselves. Place water, nutrient solution, algae culture in the glass, on the windowsill – you can harvest after around ten days. In the studio we try it straight away: spirulina panna cotta and hummus are on the table. Judith Williams says: “I taste that I don’t taste anything.” “I don’t like algae, and I don’t taste any,” adds Ralf Dümmel. Frank Thelen realizes: “That’s supposed to be the result.”
From Bio-LK to start-up
Schwedhelm and Farzaneh Nejad know each other from their school days. They took an advanced biology course together and are now building a company together. They have been selling the first prototypes for four months. They started a pre-sale two weeks ago, with more than 50 customers having already ordered. In total, they turned over around 18,000 euros in eight months.
Read too
The starter kit costs 149.95 euros, but in the long term they want to get it under 100 euros. The production costs are around 35 euros. There is also a subscription model for the nutrient medium: around 20 euros every three months, at a cost of less than one euro.
Doubts about valuation and market
The rating quickly sparks discussions. Thelen is the first out: “Great idea. But this is a craft project.” Dagmar Wöhrl doesn’t see a big market either, “I’m out.” Dümmel thinks that “the ticket for the lion is very high”, and he also gets out.
Renegotiation in the pitch
Carsten Maschmeyer calls on the founders to reconsider their assessment: “Withdraw again.” After a short consultation, they adjust their offer and offer 15 percent for 200,000 euros. But that’s not immediately convincing either. Williams says: “I would like to invest, but the company valuation is too weak.” Negotiations continue, and in the meantime the founders have even increased their stake to 25 percent. In the end, Maschmeyer and Williams make a joint offer: 200,000 euros for 50 percent of the company shares. The founders accept.
Deal doesn’t last
Despite a handshake, there is no collaboration later. When asked by Gründerszene, Maschmeyer explains: “After shaking hands, the founders of My Spirulina decided not to pursue their future path with Judith and me. On the one hand, that’s a shame because it’s very important to me that deals that are shown on television are actually implemented. On the other hand, of course, I respect that and wish them all the best, good luck and much success with their great idea.” The founder also commented: “The deal ultimately did not come about because we had different strategic visions for My Spirulina. But we are still in communication.” The deal fell through after the broadcast.
Read too
