The Berlin start-up "the Blood" scored points in the "Lion's Den" with a strong performance on an exciting topic. The founding team presented a kit for non-invasive menstrual blood testing that can be used at home. Women with menstrual problems should be able to simply send their samples to the laboratory without going through a doctor and receive an analysis including recommendations for improvement.
The investors Carsten Maschmeyer and Nils Glagau were convinced and offered the founding trio Isabelle Guenou, Miriam Santer and Lucas Mittelmeier a joint deal. 20 percent of the company shares for 200,000 euros and double lion support. The makers of “the Blood” agreed on the show – but the deal fell through after the show, as the parties confirmed upon request.
Investors are disappointed and even angry about the cancellation of the deal. “After the handshake on the show, we would have liked to have put our full effort into the blood,” says Maschmeyer. "Unfortunately, an old shareholder prevented our double investment, much to our regret. We still wish the founders all the best for the future." Glagau also emphasizes that the blood test founders absolutely convinced him on the show. "In the aftermath, it turned out that we didn't get along. I got the impression that the team just wanted to use the advertising platform for 'The Lions' Den' without actually wanting another investor. I think that's a shame. Still I also wish the blood much success for the future.”
“The Blood” rejects the accusation of not being serious. “We had the goal of winning a lion for ourselves and would have liked to work together with Carsten and Nils,” says founder and CEO Guenou to stern. “Unfortunately, in the negotiations after the show we didn’t come to a common denominator.” The deal did not just fail because of one old shareholder, but there were general discrepancies in the terms of the deal.
The fact that the start-up only brought other investors on board at the end of last year - a few months before the show was recorded - may have complicated the negotiations. They invested a million euros, says Guenou. Doctor Lucas Mittelmeier, who appeared as part of the founding team in "Lion's Den", has already left the company.
The blood test from “the Blood” isn’t really on the market yet. In addition to a shake and a menstrual cup, the company is currently selling a prototype via its online shop that cannot yet do what was presented in the “Lion’s Den”. During the “cycle check,” the menstrual blood is examined for abnormalities and the women also receive feedback, says Guenou. However, “the Blood” cannot yet offer a detailed analysis and diagnosis of various biomarkers. The relevant studies to be approved as a medical product are expected to be completed next summer, says Guenou. The company is also currently preparing the next round of investors.