SendmyBag gets rejected on reality TV but scores big investment anyway
SendmyBag scored a small victory after its reality-show smackdown, but it will need to figure out how to do something special if it’s to beat existing services — like UPS or FedEx in the U.S. — at the still nacent luggage-shipping game.
Excerpt from TechCrunch
When SendmyBag founder and CEO Adam Ewart stepped into the Dragon’s Den on last night’s episode of the UK television show asking for a £100k investment in return for 5% equity, valuing the startup at £2 million, he was promptly sent with his bag’s packing. ”What investigation have you done to justify the most ridiculous, ludicrous, stupid, insane valuation?”, shouted one of the Dragons.
But today the Northern Irish company which helps air travellers travel light by providing a door-to-door luggage delivery service is announcing that it has indeed raised a round of angel funding from the Belfast-based angel investment firm Lough Shore Investments.