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First Light Solutions is a technology company within the leisure marine industry to help prevent ‘man overboard’ situations with sonar technology and alarms. Matt Hazel is seeking an investment of £100,000 in exchange for 5% of his company. His competitors are supposedly making £63M from a very similar technology, but will he have the same kind of success?
Season 3, Episode 3
An international sensation, Dragon’s Den features entrepreneurs pitching for investment in the Den from our Dragons, five venture capitalists willing to invest their own money in exchange for equity.
#DragonsDen #BusinessPitch #RichardFarleigh
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29 comments
These titles are crap. It's another thing to be clickbait but fair, and another to straight up lie.
sometimes i think the dragons try to squeeze out more and it would seem that sometimes they know they are trying to get more and wont budge back a little, even if it means being accepted
Later that night he folded up Richard like a pretzel
The company is dissolved owing HSBC and Lloyds
Went on to work for the Titan submersible
How does it kill sharks ?
I was just taking a swim !!
Richard Farley has a very measured approach. He only ever offers on large, technical opportunities. I like him very much.
He sold the company in 2015 for 85 million
There must be a clause in their contracts saying that they must say 'I'm out'
this could be really useful. it can be on cruise ships which would sell a lot if they want them. since it only works while in water you could use it to see when everyone is out of the water and ready to go.
Good negotiator this guy and excellent choice in Richard Farleigh, he has a nice smooth manner, shame it never went anywhere..
Duncan. I’m ooot
This guy's got a curious accent, its like he grew up in America but has lived his adult live in Britain.
I'm sure I read somewhere this guy had died. Seemed like a great product.
Richard Farleigh is a class act
I miss richard man
I think he is just faking confidence about his patent. No way would they give away such a patent. Also with niche market the company wouldn't go long.
Man, I can’t imagine any other dragon or shark or whatever reacting like Richard did to: “I’m sorry, I don’t know you, what makes you stand here in front of me”. All of them would just let ego take control but this guy just clarified himself and told him why he would like to invest in the product
Decieving title.
Why does it not keep running like a transponder so it’s emitting where ever you are
What about including a bright flashing light for darkness.
Richard was such an epic dragon. One of the better ones for sure.
Personal locator beacons have been around for decades, even when this was filmed GPS beacons that broadcasted it's location wirelessly in real-time existed. No underwater sonar required.
Excellent product for that one person in a billion who falls off a boat.
His product has horrible flaws. First just about any standard water resistant gps device does this exact same job with far better range, they have these already for just about every back country activity. He has over-engineered this and put a lot of faith that his patent will lock out every other sonar based device which is the standard technology for all marine applications. He makes the poor assumption that his casual googling of european man overboard supply makes him a maverick but being arrogant about the value is always the downfall of all these pitches.
I always love how these sellers try to say there are other countries that have suppliers but theirs are unique like stuff can't be shipped worldwide in a few days or less.
Hope Richard sees these comments – the Peoples Dragon!
He didn't say his company is worth 63 million. He valued it at 2 million.
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