Whitley Bay-based food supplement brand, Oatein, has secured a £50,000 investment deal with the Dragon’s Den. Oatein was founded by John Pal Gardner and Andy Dixon in 2015. It has received offers from three Dragons but the founders have decided to go with Peter Jones, securing a £50,000 investment in exchange for 20 percent equity in the business. Oatein is famous for producing flapjack before it decided to enter production of other ranges such as brownies, protein bars, cookies, and peanut butter.
The company is doing amazing business and has sold more than 2.5 million healthy protein-rich snacks to 50 countries worldwide. Oatein’s products are available at supermarkets, pharmacies, health care outlets, and gyms. The company’s 90% turnover comes from exporting products. It is doing fabulous business in the Middle Eastern countries. Gardner said that Oatein’s products are successful and popular around the world but the company is now looking forward to increase its presence in its own doorstep. And the partnership with the Dragon’s Dens is a great way to kick start that.
Oatein’s first product was flapjack which is currently the most sold product among all the ranges. Recently, Oatein has started a crowdfunding campaign to raise support for its new Vegan product called Oatein Millionaire Crunch. This product is available in Vegan options and it is the seventh product in the Oatein’s range. The company was launched in 2015 and it managed to raise £1million turnover within two years.