The company that has claimed it is more secure and much faster than the traditional hammer and nail method of fastening electrical lines. The married couple appeared on Dragon’s Den and created tension between the fellow entrepreneurs.
Walk through the article to know about the product, its usage, and its approach to the Dragons.
Quick Facts
| Founders name: | Mechanic David Gray |
| Business details: | Cable fastening system |
| Founded in: | 2015 |
| Location : | Northern Ireland, United Kingdom |
| Asking of Company: | £80,000 For 15% Equity |
| Accepted Deals: | £80,000 For 25% Equity |
| Dragon on board (Investors): | Deborah Meaden |
| Dragons’ Den Episode: | Season 17 Episode 10 |
| Net Worth | £5,000,000 |
| Business Status: | Active |
| Last Updated: | Feb 29, 2024 |
| Social Media | Facebook |
About the Founder
Mechanic David Gray is the owner and CEO of ViperClip. However, he built the device all by himself because he was unable to find one in the market which would render his job simpler. Julie Gray, his spouse supported her husband to make the idea come to fruition.
Founding the Viperclip
ViperClip is a protective staple that is used with a battery-powered resistant material clip gun. The staples serve a purpose during construction to fasten wires to support the edges and other constructions. The tool is convenient for an at-home DIYer.
It is also durable enough to use by an expert construction worker or an electrician. The proper anchoring of 240-volt and 110-volt wires is necessary, and a portable stapler with impermeable staples aims to make the job a breeze.
Dragon’s Den Appearance
ViperClip featured on Dragon’s Den for a 15% ownership stake in the manufacturing of the staple castings and to pay for the worldwide patents, the pair requested $ 1,01,551.92. The cable staples covered by the trademarks were manufactured of non-conductive materials. Peter Jones was concerned at the time because the patent application was not legally authorized.
Sara Davies and Deborah Meaden both tried out the live demonstration wood and wire. Tej Lalvani complimented its quality and its retail capacity. ViperClip could very immediately go on sale thanks to his contacts. For 30%, he offered to give every single dollar.
Meaden intervened and made an all-cash bid, but he outperformed Lalvani by 25%. Touker Suleyman was concerned about the delay in the goods. The delay in the development was due to the couple’s self-investment of $ 1,52,327.88, their home, and their pension schemes.
Despite how much this pleased Jones, he decided on a personal level and ended the bargaining process.
Davies delivered her significant expertise in bringing goods covered by copyright to market. She offered a deal to split 15% of the profits with another Dragon. Suleyman mentioned a joint venture with Lulvani in his offer, along with the production crew in China and $ 1,26,939.90 for 25% of the business’s stock.
Lalvani responded with a second offer of $1,26,939.90 divided into three equal payments of 10% each, Sulieman for his production squad, Lalvani for his professional connections, and Davies for her background in patents. After considering their options, ultimately, the couple returned and decided to accept Meaden’s sole and exclusive offer of $1,01,552.00 for 25%.
After Dragon’s Den
ViperClip has since gone on to receive honors such as the Department for the Economy’s Gold Level Innovator designation and both the grand prize winner and the technical prize of INVENT in 2018. After the company premiered on Dragons Den, it has produced a net worth considerably exceeding $63,47,000.00.