Soulfi, a Berlin-based startup, entered the “Höhle der Löwen” (German version of Shark Tank) seeking investment to scale their innovative menstrual disc. The company, founded by Carolin and Jan, aims to disrupt the period product market with a sustainable and user-friendly alternative to tampons and pads.
Their product, the Soulfi menstrual disc, is reusable, made from medical-grade silicone, and designed to be more comfortable and hygienic than traditional period products. Carolin, a trained midwife, emphasized the disc’s ergonomic design and ease of insertion and removal. Jan, focused on the business aspect, highlighted the environmental benefits and potential for long-term cost savings compared to disposable options. They presented a compelling argument about the market’s shift towards sustainable and health-conscious period care.
The duo requested €150,000 in exchange for 15% of their company. The “Löwen” (Sharks) grilled them on various aspects of their business. Questions focused on production costs, current sales figures, marketing strategy, and their competitive advantage in a market already populated by menstrual cups and other reusable products. Ralf Dümmel, known for his expertise in retail and distribution, questioned their pricing strategy and potential for mass market appeal. Carsten Maschmeyer, typically interested in tech and innovative solutions, probed their intellectual property protection and long-term growth potential.
Nico Rosberg, the former Formula 1 champion turned investor, showed particular interest in the sustainability aspect of Soulfi. He inquired about the environmental impact of the silicone manufacturing process and the company’s overall commitment to reducing waste. Dagmar Wöhrl, with her extensive experience in the health and wellness sector, focused on the product’s safety and hygiene standards. She raised concerns about consumer acceptance and the need for extensive education to overcome potential barriers to adoption.
After deliberation, several “Löwen” decided to pass, citing concerns about the highly competitive market and the challenges of scaling a direct-to-consumer product. However, Nils Glagau, known for his investments in health and wellness startups, saw potential in Soulfi. He acknowledged the growing demand for sustainable period products and believed in the team’s passion and expertise. After some negotiation, Nils Glagau offered €150,000 for 25% of the company, a deal that Carolin and Jan ultimately accepted.
The partnership with Nils Glagau provided Soulfi with not only capital but also access to his network and expertise in the health and wellness industry. The “Höhle der Löwen” appearance significantly boosted Soulfi’s brand awareness and online sales. The investment allowed them to expand their marketing efforts, improve their production processes, and further develop their product line, solidifying their position in the evolving market for sustainable period care.