The Munich startup Gobunion is a good example of Femtech. Women are nine times more likely than men to suffer from hallux valgus (bunion). Around ten million people are affected in Germany alone. To address this problem, founder Sarita Bradley has developed an innovative and stylish alternative. In 2019, she pitched Gobunion on the Lions' Den and won Ralf Dümmel as an investor. Sarita Bradley answers our seven questions about her idea and shares what's happened since her appearance on the Lions' Den.
Munich Startup: Who are you and what do you do?
Sarita Bradley: Gobunion is a Munich-based startup with the Idea to make life easier for women who have problems with their hallux. Our stockings feature a toe spreader that gently stretches the big toe back to its original position, ensuring the curve doesn't increase. A non-slip and discreet solution for everyday wear for style-conscious women.
About four years ago, I started research and development. It took some time until I had a final prototype. In October 2018, I launched Gobunion at the Munich Beauty Forum trade fair. Just eleven months later, the pitch aired on the Lion's Den, and I received two offers: one from Georg Kofler and one from Ralf Dümmel. Ralf Dümmel was awarded the contract.
Gobunion received two offers at the Lions' Den
Munich Startup: But that's been around for a long time!
Sarita Bradley: In fact, this '2-in-1' medical device doesn't exist in this form yet. I was also very surprised why it wasn't available yet. It helps with daily bunion care, prevents further deformity, and provides pain relief thanks to the optimized size and strength of the softgel.
Munich Startup: What has been your biggest challenge so far?
Sarita Bradley: Before the product launch, strategic decisions such as packaging were the biggest challenge. After the product launch, distribution channels are the biggest challenge.
Over 100,000 products sold
Munich Startup: Let’s get to the point: How is business going?
Sarita Bradley: We're totally overwhelmed by the overwhelming response. On the Lion's Den, I spoke about selling 90,000 items. Currently — as of December 2019 — we've sold around 100,000 medical stockings, generating sales of approximately €1.7 million.
Munich Startup: What are your learnings from the "Lion's Den"? What did you take away?
Sarita Bradley: The Lion's Den was a fantastic experience for me. However, founding a startup should be carefully considered. Many new and unexpected challenges await you that you weren't aware of during the planning phase. And my advice for others: No matter how much budget you've allocated, expect more!
Munich Startup: How can your startup become the next unicorn? Or will we see you soon at Epic Fail Night?
Sarita Bradley: The future will tell!
Munich Startup: Tea or coffee?
Sarita Bradley: For me it's always coffee in the morning and tea throughout the day.
