Dragons Den Success for MagnaMole
An innovative product being sold by Schneider Electric as part of an exclusive distribution deal has been given an extra boost following a successful pitch on the hit BBC2 show Dragons’ Den.
Sharon Wright, the inventor of the magnetic cable guide MagnaMole, was offered financial support from Dragons Duncan Bannatyne and James Caan following a winning presentation in the den. Millions of viewers watched on Wednesday 22 July as four of the five dragons competed for the chance to be part of MagnaMole’s promising future.
The revolutionary product has been developed to help busy contractors save time and money by guiding cables through cavity walls and void spaces, ensuring a quick and safe retrieval of cables as well as reducing the risk of electrical shocks.
Schneider Electric has already been distributing the MagnaMole as part of its Tower range, and so far the new tool has been proving popular with electrical contractors. Not only does it reduce the risk of unnecessary damage to property or other cables in wall cavities, it also reduces the risk of injury to the user particularly when compared to some makeshift devices including a bent wire coat hanger.
Marc Gaunt, Residential Product Manager from Schneider Electric, said: “I first met Sharon at an exhibition and immediately saw the benefits of MagnaMole. The product is such a simple idea yet it offers a quicker, safer solution for electrical contractors and has been a hit with our customers.
“It was great to see the Dragons were just as enthusiastic and impressed with MagnaMole as Schneider Electric has been.”
Sharon added: “Securing funding from Duncan and James has allowed me to employ staff, freeing up some of my time to work on other projects. The backing of Schneider Electric really supported me in breaking into the contractor market and gave me the confidence I needed to take the product into the den.
“We are already looking at expanding into new markets and our next move will be to target DIY enthusiasts. MagnaMole will soon be available to buy in DIY stores for homeowners who are keen to invest in an innovative new product for their toolbox.”
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