Would you buy something that makes your pet consume bugs? Sounds weird, right?
Ross invented Bug Bakes, which manufactures pet food to create nutritious food items and lessen the negative ecological effects of owning a pet. Pet owners can provide their canines with a source of non-allergenic meat, digestible fiber, and prebiotics by feeding them the animal food produced by the company.
They appeared in Dragon’s Den and pitched. Did the deal go through? Let’s read the article and know about it.
Quick Facts
| Founders name: | Ross Lamond |
| Business details: | Insect Protein Dog Food |
| Founded in: | 2016 |
| Location : | UK |
| Asking of Company: | £50,000 For 10% Equity |
| Accepted Deals: | £50,000 For 50% Equity |
| Dragon on board (Investors): | Touker Suleyman |
| Dragons Den Episode: | Season 17 Episode 11 |
| Net Worth | $6,36,699.50 |
| Business Status: | Active |
| Last Updated: | Mar 05, 2024 |
| Social Media | Instagram |
About the Founder
Ross Lamond, a fledgling entrepreneur from Fife, is the brain behind Bug Bakes. According to Pet Business World, he discovered that the animal nutrition sector triggers a sizable chunk of the livestock sector in the UK while he was an undergraduate at the University of Glasgow.
This inspired him to look into how pet parents might reduce their contribution to climate change by simply switching out alimentary brands. Initially, his mother assisted him in starting the business by affixing tags on packages in the family’s house.
Founding the Bug Bakes
Instead of using animal products, Bug Bakes offers distinctive chews for dogs that contain protein extracted from insects. Aiming to lessen the environmental impact of the pet sector, it is a UK-first strategy.
The company’s animal meals are manufactured with beneficial insect meat and renewable fruit pulp from the juice sector. The alimentary packaging is also crafted from plants and lined with organic sugar.
Dragon’s Den Appearance
Ross accepted an invitation to participate in Dragons’ Den, and he debuted in 2020. In exchange for $63,669.95, he offered to give up 10% of his company. In his endearing layout, an adorable dog distributed cookies to the dragons.
The dragons had doubts despite his assurances due to his lack of commercial strategy and the fact that his membership business remained in its nascent stages. In comparison to his profits from the prior year, his worth was likewise enormous. Dragons were hesitant about whether or not to endorse the product.
However, Touker Suleyman was the one to make him a proposal after the first four dragons withdrew. But he demanded a 50% share in the company. Ross, who is a master at haggling, convinced Touker to endorse 35% in exchange for the assurance that he would receive the funds back within a year.
Unfortunately, the transaction between Ross and Touker never actually got inked, just like the case with other Dragons’ agreements. Even though they occasionally crossed paths and, according to The Courier, remain friendly, Ross never chose Touker as his business associate. Ross’s discovery of some new shareholders is one of the causes.
After Dragon’s Den
Human beings adore the natural world and animals of all kinds. Will they alter one’s way of life to ensure the other’s survival? Since Bug Bakes is still a relatively new business, only evolution will reveal if Ross can achieve the change that he intends.
This growing startup company has a projected worth of more than $6,36,699.50 as a result of the publicity on Dragons Den.