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Frank Thelen Invests in Steets After Record 98-Year-Old Pitch on ‘Die Höhle der Löwen

The founders agreed to €300,000 for 25% following scrutiny of their valuation against roughly €60,000 in sales.

Overview

  • Heinz Schlechtingen, 98, became the show’s oldest participant and used a rehearsed cane-drop bluff to highlight the problem of falling mobility aids.
  • Steets is an attachable support that deploys small feet with one hand to keep canes and crutches upright, with patent protection claimed since 2022.
  • Founders Phil Janßen, Thorben Engel and Philipp Battisti opened at €300,000 for 15% despite reporting about €60,000 in prior revenue.
  • Investor Frank Thelen insisted on 25% for the same sum and won the on-screen deal after other Lions voiced concerns over the valuation.
  • The team plans to use the broadcast exposure to grow sales across Germany and prepare for international expansion.