On every new episode of KCB Lions’ den, we get to experience yet another round of ambitious entrepreneurs pitching their business ideas to the Lions for a chance to gain an investment that will transform their businesses. And on this episode, we saw 4 very ambitious entrepreneurs enter the den with a hope of getting a deal, but only 2, walked out with investments worth KES 7.5 million each.
Episode 4 of KCB Lions’ den was quite interesting; as we saw two dynamic entrepreneurs come into the den seeking an investment worth KES2 million for 9% equity stake, after refusing a multi-million deal outside the den. Kennedy and Lawrence a duo from Eldoret believed they had invented a formula that will end the recurrent hunger crises in Kenya. Their company by the name 13 foods company realized the major challenge facing most Kenyan maize farmers. That is, aflatoxins, that affect all maize that is stored. With 12-20% of all harvested grains affected by aflatoxins its monetary value is around KES130 million making it a lucrative business for the lions to invest in. Their company reverse engineers the grains affected with the aflatoxins and grounds it into flour that can be reused into several food products. Joanne Mwangi was quick to point out a hole in their business, stating there was a way farmers could stop their grains from being affected by aflatoxins. Most of the lions advised the young men to sell their business and invest in a new one as that formula will have a greater impact in the hands of an established brand. Unfortunately they walked out of the den without a deal.
The first to enter the den was a dynamic father and son duo with their innovative transport and recreation activity business, Quantum trailers limited. It’s a mechanical engineering SME that deals with light duty cargo trailers and container convertibles. Their business deals with cutting the cost of long distance travel of bulky goods by 50-70%. In 2017, they doubled their revenues to KES27 million but after the 2018 election their business hit a recession. They were seeking KES10 million for 20% equity stake in their company. The lions felt the business was not ready for such an investment and they all bowed out of the deal.
Next in the den was Alex the founder of Nanasi. He believed that he had the next big thing in the online commerce space. His APP Nanasi is set to help off the grid merchants in emerging markets, in Africa, to start retail businesses and then sell on multiple social media markets. Nanasi also ensures that the retailer’s product is available in all marketing platforms and offers an inventory that helps the retailers manage their products and services. He was seeking for KES7.5 million for 20% equity. Kris Senanu was the only lion interested in investing in the business and after some negotiations with the entrepreneur they came to an agreement of an investment worth KES7.5 million for 35% equity stake.
Kingsley was the last entrepreneur to pitch to the lions on this episode. He came in, looking for funding for his company Funtrench limited, a tech company, focused on training professionals in an emerging world. Their goal is to be a key part of the emerging technologies training ecosystem in Africa and to develop professionals that are needed in this growing field. He was looking for an investment worth 7.5 million for 20% equity. Olive was the only lion interested in the business and they made a deal of 7.5 million for 30% share.
You can catch episodes of KCB Lion’s Den every Tuesday at 8:00 PM on KTN Home. Remember to share and comment.