Igloo. A refrigerated delivery service who asked for £160,000 in return for 8% of their company.

Anthony Coates-Smith & Alistair Turner chances looked slim at first as Peter Jones accused them of having frozen brains for valuing their company at £2 million. however it became apparent that the mens proposal could be a profitable one as a bidding war ensued amongst the Dragons.

Duncan Bannatyne made the first offer of £80,000 for 20%, swiftly matched by Richard Farleigh, who brought the equity down to 15%.

Deborah Meaden and Theo Paphitis tried to undercut them with a bid for 12.5%, followed by Peter Jones, who had clearly warmed to the business.

He offered all the money for 30%, but in the end it was Richard who clinched the deal by suggesting that he and Duncan offered half each for a total of 22.5%.

After a quick chat at the back of the den, Anthony and Alistair chose to go with Richard and Duncan’s offer and secured the £160,000 they needed to expand their business to two further UK locations.