Rhinohide founder and CEO Marc Berryman appeared on tonight’s episode of Channel 10’s Shark Tank with the hopes of securing investors to help grow the business.
Marc was originally asking for an $80,000 investment in return for 10% of the business.
After delivering a solid pitch, Mr Berryman found himself in the unusual situation of piquing the interest of not one, but three Sharks. After careful consideration, Marc decided to accept offers from two of the Sharks; Greencross and Pet Barn founder Glen Richards, and Andrew Banks, co-founder of recruiting giant Morgan and Banks. The total investment was worth $160,000 in exchange for 20% of the business.
When asked why he decided to invest in Rhinohide, Andrew Banks was clear. “Rhinohide is a great innovation. Not only does it protect your side panels, but it can also turn a tired looking four wheel drive into a brand new cool looking machine”.
“Rhinohide is quick and easy to install and offers an innovative way to protect your new off road vehicle for an affordable price.”
Mr Banks was not only impressed with the product, but also with the young entrepreneur himself. “It’s a start up, but Marc was realistic, yet ambitious and shows he could learn as well as lead. This is a great combination for investors in a new business” said Mr Banks.
Glen Richards was also taken with the product. “Rhinohide is an innovative product that I felt had seriously good legs, supported by a passionate entrepreneur that had put it all on the line.”
“I loved the simplicity and aesthetics of the product, to give your vehicle a makeover as well as protection”
Rhinohide is currently available for the Toyota FJ Cruiser, with the Ford PX MKII Ranger being released in June. Work has also begun for the Toyota LandCruiser 200 Series. For both the original and new refresh models and will be released in November this year.
The Rhinohide range will be increased over the next 12 months to ensure that all major models of 4WDs have access to this superior protection.