Robert Leeds, the company’s creator, and Guy Seymour, a co-founder, presented their proposal to build private submarines on Dragons Den UK, a popular TV program, in 2019. What made the Dragons burst amongst each other?
However, the owners needed capital to improve their business. But the biggest turnover was the owners were questioned on their business skills. Will they be able to cover up their flaws and continue to convince the Dragons? Was the company successful after the broadcast? Follow the article to know.
Quick Facts
| Founders name: | Roberts Leeds Guy Seymore |
| Business details: | Submersive underwater vehicles |
| Founded in: | 1999 |
| Location : | UK |
| Asking of Company: | £1,450,000 For 45% Equity |
| Accepted Deals: | No deal |
| Dragon on board (Investors): | None |
| Dragons’ Den Episode: | Season 08 Episode 02 |
| Net Worth | $500, 000 |
| Business Status: | Active |
| Last Updated: | Mar 02, 2024 |
About the Founder
Robert Leeds, who serves as the chief executive officer of the business, founded Subeo Submarine. One of the submarine experts and the founder of Seymour Designs and Analysis, Guy Seymour co-hosted the Dragons’ Den show together with Robert.
Founding the Subeo Submarine
A business called Subeo creates compact, cutting-edge submarines. An aquatic vehicle with the ability to dive 50 meters deep was specifically developed by the Subeo crew. Other watercraft is capable of diving to a maximum of 300 meters.
These are luxury private submarines that allow people to explore the ocean. The Gemini, a three-seater private submarine from Subeo, is capable of diving down depths of 100 meters and traveling at a speed of 7 knots. This particular submarine from Subeo is outfitted with navigation, interaction, and rescue equipment. As they are intended for private usage, Subeo submarines are very well-liked.
Dragon’s Den Appearance
Robert and Seymour entered the Den and proposed $18,48,373.00 capital that included a 45% ownership share in Subeo.
After some trial and interrogation, the first proceedings were made by James Caann. He inquired about the price point the duo was looking to bring the product to the market, to which Guy answered $7,58,470.30. Following him, Peter Jones wants to know more about the history of their company.
However, something devastating happened on the Den. Mayhem erupts, and a full-blown financial argument breaks out amongst the Dragons. Guy Seymour and Robert Leeds were not prepared to witness a full-fledged dispute amongst them. The Dragons’ panel began debating financial arrangements among themselves.
After a long debate, James took a step back as the proprietors were not confident enough to inspire him to take the risk. Deborah Meaden was out too, however, she had total confidence in them as engineers to build crafts but zero confidence as they lacked business mechanics. Following them, all the other three Dragons resign respectively.
The Dragons were certain that the team had an outstanding offering, but depending on their calculations, they believed it to be highly uncertain financially.
After Dragon’s Den
The company was improved and gained publicity after its airing on Dragon’s Den. Subeo continues to be in operation and you can buy an individually customized private submarine like the Aquarius. They also maintain a brochure through which you can hunt up information about each of its personalized underwater vehicles.
The current projected financial status of Subeo Submarine is $500k. Were the Dragons wrong about their business acumen, what do you think?