The founders of the Munich-based juice startup Frank Juice pitched on the Austrian TV show '2 Minutes 2 Million' and walked away with two new investors. The Munich-based company turned down another offer.
In the Austrian counterpart to Lions' Den The founders have two minutes to present their startup to the assembled investors, as well as representatives from ProSiebenVentures and the Rewe subsidiaries Merkur and Billa. After a concluding question and answer session, the investors submit their offers.
Frank Juice has been producing cold-pressed fruit and vegetable juices for juice cleanses since 2014. The juice is processed using a high-pressure process and bottled in 50 percent recycled PET bottles. Co-founders Daniel Andreoli and Marco Gariboldi asked for a valuation of €6 million for their company. They wanted to raise €300,000 for a 5 percent stake.
“Frank Juice is tapping into a major future trend”
In the end, the bid didn't quite reach the requested €300,000. However, the valuation was confirmed: N26 co-founder Maximilian Tayenthal and family entrepreneur Leo Hillinger each contributed €100,000 and received 1.67 percent of the company's shares. Markus Kuntke, Rewe's Head of Innovation, also participated in the negotiations, and assured that Frank Juice would be listed on the shelves of Billa and Merkur supermarkets.
The founders rejected another offer: Daniel Zech, head of Prosiebenventures Austria, who also joined the call, offered €500,000 in media services for a 2.5 percent stake. Andreoli and Gariboldi declined.
The Runtastic founder Florian Gschwandtner, a member of the jury on the show, has been an investor in the Munich-based company since 2019. He says:
"Frank Juice is tapping into a major future trend: More and more people simply want to eat healthy, but often don't have enough time to do so, so they resort to unhealthy options. Frank Juice is the perfect problem solver: The products are delicious, convenient, and healthy—what more could you want?"
