The new-look Shark Tank Australia panel promised millions of dollars to startups this year, pledging to help local startups reach their loftiest goals.
Each offer was just that — an offer — and the investment deals broadcast on the show are subject to long due diligence periods, in which investors (or the startups) can back out.
Nevertheless, here are the top 10 biggest offers made on this year’s season.
Founded by Brisbane students Kelric Mullen and Mackenzie Salisbury, Flashback produces digital cameras that emulate the look, feel, and processing times of disposable film cameras.
That throwback appeal earned a $500,000 investment offer from Shark Tank Australia panellist Maxine Horne, valuing the startup at $5 million.
Speaking to SmartCompany once the episode aired, Mullen said the startup is re-evaluating those terms, taking its recent successes into account.
Frustrated by lacklustre products on the market, Annabel Hay set out to develop a water-soluble product capable of affixing dresses, tops, and strappy shoes to the body.
That product, Clutch Glue, wowed the Shark Tank Australia panel. It earned her a $400,000 offer, split evenly between Sharks Rob Herjavec and Davie Forgarty, for a combined 20% stake in the company.
The Australian Financial Review reports that the proposal did not last long: Hay instead signed a $2 million deal with investors including Blackbird Ventures and Dany Milham, which values the business at $10 million.
Melbourne-born Little Potion Co provides something unique in the kid’s toy market: sparkling ‘potion’ kits that combine science experiments with childlike wonder.
The kits are a hit with parents nationwide and abroad, contributing to sales of $2 million last financial year (and an influx of orders before Christmas).
Smitten by the whole operation, Shark Tank Australia panellist Maxine Horne offered $400,000 for 20% equity, providing she gets a return on investment within two years.
Foldable stroller startup Ternx secured a $350,000 investment for 30% equity, courtesy of Rob Herjavec.
Ultimately, Herjavec’s encouragement to target the physical retail sector convinced founder Tack Lee to take the offer.
Led by doctors Mariam Chaalan and Rob McLeod, Taste Bubs offers allergy-testing packs for young children.
The intriguing concept won the attention of Fogarty, who pledged $250,000 for a 40% stake, and a $5 royalty on each unit sold.
A manufacturer of deceptively simple e-reader accessories, Strapsicle booked a $250,000 investment offer courtesy of Herjavec and Fogarty.
The startup now plans to delve deeper into international markets, capitalising on the frenzy around ‘BookTok’ and global demand for e-reader accessories.
Sting-free shampoo brand Mimi Haircare, designed to make bathtime easier for kids and parents alike, was a strong performer in the season finale.
After some back-and-forward between panellised Nick Bell and Fogarty, founder Emma McKenzie ultimately chose the latter as an investor.
On top of $250,000 for 30% equity, Fogarty also offered a $100,000 line of credit to the business.
Marrowz promises nutritious and long-lasting dog chews, an alternative to messy bones and short-lived supermarket alternatives.
It was formulated by Brooke Jones during the COVID-19 pandemic, and the business grew through word-of-mouth and social media messaging.
Fogarty told Jones his e-commerce expertise could expose the product to a wider audience.
In the end, Jones agreed to his terms: $200,000 for a 25% stake.
Tired of spending $5,000 a year to keep her hair extensions maintained, Steph Bellini McLeary developed a new kind of DIY, reusable hair extension system.
Its viral popularity won over the panel, and the business walked away with a $200,000 offer in exchange for 20% equity.
The final televised pitch of the season was perhaps its most fascinating.
Founder JJ Richardson, a nanotech scientist, showcased Swiff Spray — a new kind of odour-defeating clothing spray he said is unlike anything else on the market.
After highlighting his sales trajectory, patents, and the business’ buyout potential, Richardson secured an investment offer from all five Sharks.
In total, the panel offered to invest $200,000 for 25% equity, shared between the Sharks.
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Editor
Eloise is an experienced business journalist and editor, who has held senior editorial roles at SmartCompany since 2014. Prior to joining SmartCompany, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry. Eloise has degrees in media and communications, marketing and business management, and political science. You can follow her on LinkedIn, and Twitter at @ellykeating.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
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