When lions fight over hamburgers...

It all started with Dominik, founder and CEO of Future Kitchens. He started with the vision of becoming the leading provider of food delivery in Switzerland. The potential is enormous, as more and more people want to have good food delivered to their homes. Dominik already seems to be on the right track: his "Smash Club Burger" is the second best-selling burger in Zurich - surpassed only by McDonald's burgers. Projected sales of 6.5 million francs are expected to be achieved this year, and over the next five years this figure is set to rise to 100 million. The burgers are prepared in two of the company's own kitchens and currently by 30 restaurant partners, who can thus generate additional business and ensure that their kitchens are better utilized. Dominik wanted 100,000 francs in return for a 1 percent stake in the company to further expand sales and marketing activities. The high valuation initially caused the lions present (and lioness Bettina Hein) to frown. But after the tasting round at the latest, it was clear that the lions liked the business model. Only Bettina Hein did not take part in the subsequent "bidding battle". Roland Brack was the first to bid the desired 100,000 francs. Tom Zimmermann and Lukas Speiser followed suit and together offered 100,000 francs in return for a 1 percent stake. Felix Bertram even offered 200,000, but wanted 2.5 percent of the company in return. Future Kitchens founder Dominik sensed that there might be something in it and tried to convince all four lions for 200,000 in return for a 2 percent stake. But they stuck to their respective offers. In the end, Dominik opted for Tom Zimmermann and Lukas Speiser, thereby also bringing valuable marketing and e-commerce expertise on board.

Even age-old products have innovation potential

Things then took a more rustic turn with mountain farmer Alfons Cotti and his company Cotti Horse. The Grisons native, who is passionate about riding, has developed a tailor-made horse saddle. This gives the horse full freedom of movement. The saddle is adjustable and can be fitted for life. A membrane also dissipates heat build-up between horse and rider. "Comfort and flexibility for both" is the promise made by the inventor, underlining the fact that even a centuries-old product can still be improved. The entire development and production of the saddles sold to date have been a one-man show. However, with an investment of 150,000 Swiss francs in return for a 9 percent stake, the manufacture is to be expanded. All the lions were impressed by Alfons' inventive spirit and his technically sound presentation. However, the horse saddles are made to measure and are therefore not suitable for mass production. And they are not cheap either: a model costs 4,000 francs or more. So it soon became clear that despite the high degree of innovation of his product, Alfons Cotti would have to travel back to Graubünden empty-handed. It was with a heavy heart that the lions decided not to invest, but they are convinced that in this case they will be able to do without.

Tech start-ups have a hard time

MaiQ, represented by founder Cinzia, is a tech startup that offers an all-in-one platform for testing digital products such as apps, software and websites: from usability and bug checks to eye-tracking heat maps with AI. An important thing, because who wants to use new software that is not user-friendly? However, the testing landscape is very complex, Cinzia reported. This is because most testing providers only focus on one area at a time. She therefore sees her mission with MaiQ as building an all-in-one SaaS platform that developers can use to handle all testing. Cinzia entered the lions' den with a capital requirement of 200,000 Swiss francs in exchange for 6.5 percent of the company shares. And they still had to ask a few questions. Even the technology-savvy Nicole Büttner-Thiel did not fully understand the USP. She also lacked a meaningful market analysis. Although she was Cinzia's "desired lioness", she was out as an investor, even though she particularly appreciated female entrepreneurship, especially in the IT scene. Felix Bertram, who described himself as a complete layman in this field, also had to pass. Tom Zimmermann asked about the billing model: this is to be available in monthly subscriptions or annual licenses (CHF 768/year). Cinzia set a turnover target of CHF 365,000 for the current financial year in 2025. According to Cinzia's forecast, this figure is set to rise to CHF 1 million in the future thanks to internationalization. However, this did not convince Tom Zimmermann, who thought it was too early to invest at this point in time and left the company. Anja Graf and Roland Brack joined forces and submitted their offer: 200,000 Swiss francs, but for a 10 percent share. Cinzia began to haggle: "8 percent now, but with a discount later?" Anja Graf: "Buying one percent later at the same valuation, would that also be an option?" "That would also be an option," said Cinzia. "I'd be delighted if you were both in". Anja Graf agreed, and the deal was struck: 200,000 francs for 8 percent with an option to buy more. Cinzia's persuasive manner and negotiating skills proved to be a recipe for success.

A little too much "mushroom"

When it came to "MUCA", TV viewers weren't the only ones asking themselves: another lifestyle drink? MUCA is a vital mushroom drink with a cocoa flavor. It is an alternative to coffee without any stimulating side effects such as nervousness, as the two founders Dominik and Christopher promised. Mushroom-based drinks are also a big hit in the USA - why should it be any different in Switzerland? With 100,000 francs in exchange for 10 percent of the company shares, Dominik and Christopher want to get off to a flying start and launch the product, which, according to the two founders, looks back on 20 years of development, on a large scale. But the four lions and the lioness didn't really warm to the product. Felix Bertram asked for sales figures. The answer was 16,000 francs. To which Felix Bertram replied: "Which mushroom did you drink to get that rating?" In any case, he had no desire to invest. Jürg Schwarzenbach, on the other hand, had difficulty with the association "mushroom"; for him, the link to "healthy" was missing. Roland Brack took a similar view. Neither of them made an offer. Lukas Speiser at least recognized the trend from the longevity sector, but found the brand not "on point" enough. For him, it was therefore not an investable case either. Bettina Hein did not see any mass potential and also remained true to her line that the food sector is not her industry. So there was no deal for Dominik and Christopher, but they were certainly able to take away some valuable insights from their presentation to continue working on the marketing of MUCA.

A pitch that will (hopefully) continue to set a precedent

essentique was a start-up with both the "yes" and "wow" factor: the founders of this start-up were Roland and James, two 16- and 17-year-old high school students who founded their company as part of a school project. Their goal: every company should have a unique, recognizable fragrance. To achieve this, they offer fragrance products that can be individually mixed together. They seem to have discovered a gap in the market: While in Southeast Asia, where one of the two founders is originally from, many companies or hotels have a recognizable fragrance, such a "fragrance identity" is still not very common in this country. However, fragrance marketing seems to be a growing trend. 50,000 francs in exchange for 15 percent of the company: With this wish, the two young entrepreneurs, who still mix the fragrance essences themselves in the school laboratory and have so far achieved a turnover of CHF 4,500 with their products, entered the lions' den.

And they have already reaped a lot of advance praise. All the lions praised Roland and James' business acumen and company idea. Lioness Bettina Hein wished that such school projects had existed in her day. But when it came to investing, they were hesitant: "Too early" (Jürg Schwarzenbach), "not scalable enough" (Lukas Speiser), "not mature enough" (Bettina Hein) were the reasons given. Roland Brack at least offered support for sales. That left Felix Bertram: although he also shared the opinion of his "fellow lions", he nevertheless made them an offer: 50,000 Swiss francs in exchange for 15 percent of the company shares, but on the condition that the two founders quickly find an SME as a partner company and conclude a preliminary contract with it. After a brief discussion, Roland and James accepted the offer: "We have nothing to lose and we are still young". The well-presented pitch can therefore be seen as an incentive for more such examples to literally "set a precedent".

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