$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Ran Goel from Toronto. ON, pitched Fresh City Farms in Season 10, Episode 21, asking the Dragons for $300K for 10% of the company.
- Asked for$300K for 10%
- Valuation$3Mimplied by the ask
- OutcomeNo deal
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Manjit Minhas | Concerned margins are too low to scale while keeping company values | Out |
| Michele Romanow | Does not believe the online grocery delivery model has been solved | Out |
| Michael Wekerle | Cited a past failed investment in a similar grocery delivery company | Out |
| Jim Treliving | Liked the business but felt the valuation was too high | Out |
| Joe Mimran | Agreed the valuation was too high | Out |
Ran Goel, founder and CEO of Fresh City Farms in Toronto, pitched an urban farm and organic grocery delivery service, asking for $300,000 for 10% of the company, valuing it at $3 million. The company delivers about 800 products to 1,700 homes in Toronto, with a typical bag costing $28 plus a $3 delivery fee, and does about 1,000 deliveries a week. Sales over the last 12 months were $1.8 million, with total sales to date of about $4 million; gross profit is about 21%, though last year's net margin was only about 3% due to investment in warehouse and website infrastructure.
Manjit Minhas went out over concerns about low margins limiting the ability to scale while keeping the company's values. Michele Romanow and Michael Wekerle both cited past failures of similar grocery delivery models to scale profitably. Jim Treliving and Joe Mimran both said they liked the business and direction but felt the $3 million valuation was too high to invest in. No deal was made.
Pitch details from CBC’s Dragons’ Den pitch page.
Fresh City Farms today
- StatusIn businessLast checked September 2026
Ran Goel's Toronto-based organic grocery delivery company, which pitched in Season 10 without a deal, has grown sales from $1.8 million to just under $6 million over the past 12 months. Weekly deliveries increased from about 1,000 to almost 2,500, staff grew to over 50 including farmers, drivers, cooks and an in-house nutritionist, and the company expanded into ready-to-eat meals, fruit beverages, salads, and opened its own greenhouse growing tomatoes and other greens.