Peter Jones issued a warning to a Dragons' Den contestant that her business was in trouble during her pitch to the investors. Abilash Abhohi presented her plant-based ice cream brand Moonji, seeking an investment of £75,000 for 15% equity in her company.
Abhohi told the Dragons: “I think what I’m really genuinely passionate about is getting more and more people access to products that have more natural ingredients in them.” She continued: “I’ve poured my heart and soul into this, I’ve just been doing it all on my own, and because of that, it’s just taken it’s time, but now I feel I’m ready to take this business to the next level.”
Speaking to Peter Jones, Touker Suleyman, Deborah Meaden, Steven Bartlett and guest Dragon Tinie Tempah, she explained: “At Moonji we make delicious, all natural, plant-based ice cream inspired by Ayurveda.”
Dragons question finances and social media
After tasting the ice creams, the Dragons appeared to be fans of the product but were quick to grill Abilash on her business. With concerns raised about her finances and only a few thousand followers across social media, the Dragons did not at first seem convinced, reports Wales Online.
Peter was quick to praise the ice cream, saying: “It’s really good, I’m really genuinely surprised how good it is. Really, really nice.” He went on: “But then when you gave out the numbers of where you got to, it was quite deflating to hear the last three years was turning over £20,000 a year.”
As he questioned her pricing, Abilash replied: “This is where the help of a Dragon would be really valuable because there’s been points, where even for me, really distilling what are our USPs and how to really translate that to a buyer who is looking how that will add value to their shelf. And I haven’t had those conversations with big retailers.”
Touker Suleyman bows out
Touker told her: “You have a great product. Unfortunately, you’re the problem. I don’t know where you’re going to go without investment. But that investment today is not going to come from me. For that reason, I’m out.”
However, Peter shared: “I think you’re in trouble. I love ice cream, this is what is interesting. When I invested in Levi Roots, it was quite weird but I loved the sauce. I tasted it and went, oh my god wow. But the person standing in front of me wasn’t an entrepreneur, it was a musician. And I feel the same about that today with you.”
He went on: “You need somebody to back you and believe in you, don’t you. So I’m going to give you that opportunity. I have everything organisationally to allow you to do what we allowed Levi to do, which was to go out and be you, telling the world about this amazing product you’ve created, but you have no idea how to make that happen, do you? That’s where I come in. I think this is a wonderful opportunity, and that’s why I’d like to talk to Tinie.”
Investment accepted
As a result, Tinie and Peter offered the total sum of the money for a 30% stake in the business between them. Giving away twice as much as she had intended, Abilash told them: “Thank you so much, I’d like to accept both of your offers.”
After her pitch, she added to cameras: “I’m feeling such a mix of emotions, I just love the fact that I’ve got two Dragons, how cool is that.”
Dragons' Den is available to watch on BBC iPlayer.
