East Lothian-based entrepreneur Sheila Hogan was turned down by the Dragons' Den panel on last night's episode, but has since found more funding from other sources.
Her pitch aimed to secure early-stage investment to let the business, originally launched in 2020, to expand exponentially.
Through Biscuit Tin, the 'death-tech' firm founder aims to plug a gap in the market when it comes to end-of-life planning and digital legacy.
While the Dragons - veterans Peter Jones, Deborah Meaden, Touker Suleyman, Sara Davies, and newcomer Steven Bartlett - chose not to invest on the show, since filming took place, Hogan has been able to secure more than six times the original investment she asked for.
Earlier this week, she secured a £300,000 investment, with Velocity Capital leading the round, alongside Scottish Enterprise and private backers.
“Whilst I didn’t secure investment from the Dragons on the show, I’m delighted to say that since filming the episode, I have been able to secure investment from other investors who have recognised the huge potential of Biscuit Tin - the investment closed at just over six times what was asked of the Dragons’.
“I have absolutely no regrets – Dragons’ Den has been a phenomenal experience, and such a privilege to be part of.
“Preparing and pitching to such a high-profile and massively successful group of businesspeople was a fantastic opportunity for me and Biscuit Tin.
“I have given consideration to all the Dragons’ comments, and it has made me even more passionate and determined to fulfil the mission, transform the way we handle end of life and make Biscuit Tin a household global brand to be proud of,” she added.
Hogan launched Biscuit Tin in 2020, following a 30-year career in IT, change and project management. She ran a maintenance firm for 10 years and a business architecture consultancy for more than 20.
It was the trauma and stress of having to deal with her parents’ affairs, particularly after the death of her father, which made Hogan determined to make the process easier for other people.
A former President of the Association of Scottish Businesswomen, she turned her attentions towards investigating whether there was a way in which all of the threads of our lives could be captured and managed to ease the burden on those loved ones left behind. The company takes its name from the old biscuit tin every family used to have for storing important documentation.
Biscuit Tin is targeting both consumer and business-to-business markets, with a number of commercial partnerships set to be announced in 2022.
The company plans to embark on an additional investment round over the next 12 months.
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