Welsh company wins huge investment on Dragons’ Den

A Welsh company has won backing from a financial guru on Dragons’ Den.

Bike storage innovation Stashed Products scored Dragons’ Den investment from a Dragon after a successful pitch from company owner Elliot Tanner.

The Powys company, which was backed last year by the county council with a growth grant, has now picked up a huge investment on the long-running BBC show.

Stashed Products, makers of space-saving bike storage systems, was successful in securing £25,000 from the council towards the cost of making improvements at its base in Abermule and for staff training, with the aim of creating three full-time jobs in 2024.

Bidding war

Now, owner Elliot Tanner has got a sizeable investment from a Dragon too.

After a bidding war and some tense negotiations in the den, Elliot won a 100,000 investment from his preferred Dragon, Touker Suleyman.

Elliot said: “Stepping into the Den was one of the most intense experiences of my life. My mind went blank just as I stepped through the lift doors, and I could barely remember my own name. When I got into my stride though, I started to really enjoy the whole experience.

“It’s absolutely amazing. I’m super happy Touker is going to take our business to the next level.”

The company was helped on its journey from the local council and now has its sights set on global success.

“The support I’ve had from Powys County Council has been integral to our success and getting offers of investment from four Dragons feels like a real endorsement of everything we do at Stashed Products,” said Elliot.

Stashed Products was one of 71 companies that received business growth grants from Powys County Council worth just under £1 million last year.

It put the £25,000 it received towards installing mezzanine flooring, workstations, and a marketing and retail suite and for stacking and picking equipment.

Elliot said when applying for the grant: “In under three years, we have developed SpaceRail – market-leading bike storage systems and a range of accessories. We have expanded our factory in Wales and our products are used to create dream bike spaces all over the world. SpaceRail is stylish, innovative and robust and can be found in industry settings from busy workshops to recognised bike brands.”

Impressed

Councillor David Selby, Powys County Council’s Cabinet Member for a More Prosperous Powys has been impressed by the success achieved by Stashed Products in such a short time.

He said: “It is pleasing to see that a Powys business that has been supported by the council with a growth grant and by Welsh Government with research, development and innovation funding has gone on to be backed by highly respected investors.”

Watch Elliot score a sizeable investment on Dragons’ Den on BBC iPlayer HERE