Happy ending despite skepticism: four founders plus a senior woman fight for 180 thousand euros in the cave – and in the end they are able to convince Lion Frank Thelen.
Robert Gühne, Chris Walter, Daniel Böber and Jürgen Burkert enter the lion’s den with one goal: 180,000 euros for 15 percent of their startup Anabox Smart. The founders want to help older people live independently for longer. Your trick? A digital medication dispenser that is intended to ensure that pills are taken.
The idea from the care reality
The idea comes from real life. Robert Gühne’s grandmother suffers from Parkinson’s: “During the care, taking the tablets became chaotic,” says the founder. And they bring Jutta with them – a test patient for whom medication is a daily struggle. She is not allowed to take the wrong dose or even the wrong medication. The lions nod. The problem is clear to everyone.
Then comes the big reveal: Anabox Smart. According to the founders, the box has compartments for a week’s worth of medication. At the time of administration, the compartments with the correct medication should flash and beep. Sensors are supposed to check whether the cup has actually been removed. According to the founders, relatives can use the app to check whether everything has been taken correctly.
If this is not the case, a push alarm should be sent to the family or carer via the app. “Jutta doesn’t have to do anything for this. The device runs autonomously,” explain the founders. In the live demo, everything shines perfectly, Frank Thelen is thrilled and says: “The craftsmanship is extremely well developed!”
Costs, filling and business model in focus
But the joy is short-lived because Thelen asks: “How high are the production costs?” Since the founders produce themselves, the costs are currently 100 euros per piece, according to them. The answer is written all over the lions’ faces, they all say: “That’s too expensive!” There is also the question of who actually fills the box. “Relatives, patients themselves or nursing staff. Later pharmacies,” the founders answer. The lions remain skeptical.
Then the business model causes discussions. The founders want to use a monthly subscription model to use their box. This should be placed in the health insurance companies’ catalog of aids. As a result, the health insurance companies would have to cover the patient’s costs for the box. Maschmeyer therefore asks: “Why should the health insurance companies cooperate?”
But Robert Gühne, Chris Walter, Daniel Böber and Jürgen Burkert know their case and say: “Taking the wrong medication costs ten billion euros a year – that’s 13 percent of all health expenditure.” Maschmeyer is initially convinced until the next critical demand comes, because there is already a competitor with the same product in the USA. But the founders can quickly calm the lions here. They already have a specific European patent and their product is safe. Nevertheless: Your startup has neither sales nor a large sales force.
Rejections rain down – only Thelen remains
The lions hear this – and rejections rain down on them. For Maschmeyer, there are too many question marks in the case and the startup is in too early a phase for him. That’s why he cancels. Dagmar Wöhrl, on the other hand, only knows horror stories from health insurance practice: “Health insurance companies are not my model, I had bad experiences working with them,” she says and is also out. And what does Janna Ensthaler say? “I lack sales, the valuation is too high for me.” That’s why she’s not there either. Since Ralf Dümmel also doesn’t want to invest, only Frank Thelen remains as a potential savior.
He is visibly struggling. “You’re living in a dream world with cash registers. The device is too expensive. You’re in debt. And scaling will be brutally difficult.” Nevertheless, he says: “The problem affects millions of people, your patent is strong. With my team we can solve your problems.” That’s why his offer follows: 180,000 euros – but for 25 percent instead of 15. And Thelen sets the following condition: “I’ll take over hardware, software, sales and get involved properly.”
The founders retreat to discuss matters and the tension rises. They come back – and accept the offer! Hugs, relieved faces – from the founders and also from Thelen.
Success after the broadcast
He is still convinced of the product after the show and says to Gründerszene: “A lot has happened at Anabox since the recording: The product has been included in the care aids catalog, contracts with health insurance companies are in the pipeline, processes have been optimized and the online shop has been expanded. We are currently examining what a collaboration could look like.”