It’s episode 7 of Shark Tank Australia 2023 and the Sharks were blown away by a pitch of a kid’s vehicle that also satisfies the parent’s needs. However, one pitch was fed to the Sharks but received no bites.
Here’s what happened during the episode.
Pitch #1 – 35MM CO
The Product
23-year-old Madi Stefanis pitched a nostalgic film camera called 35MM CO, aimed at late teens and 20-somethings in a variety of colours.
The Investment Wish
$300,000 for 10% equity.
Offer Accepted
Sharks Robert Herjavec and Jane Lu settled for a shared $300,000 for 17.5% equity.
Pitch #2 – Nevabuds
The Product
Nevada Smith presented Nevabuds, earbuds with a magnetic clip that clips together, helping users to never lose them.
The Investment Wish
$28,000 for 40% equity.
Offer Accepted
AI guru Catriona Wallace invested $28,000 for a 49% stake in the business.
Pitch #3 – Burleigh Wagon
The Product Regan and Nathan pitched the most “souped up and pimped out” beach wagon called The Burleigh Wagon. It is a beach vehicle for days out with kids and includes an esky, surfboard rack and USB speaker.
The Investment Wish
$450,000 investment for 10% equity of the business
Offer Accepted
Davie Fogarty secured 25% equity for $450,000, plus a $10 royalty until the money is paid back.
Pitches without offers
- Van fit out company Vanable
Shark Tank airs on Tuesdays at 7.30 pm on 10 and 10Play.
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