Loop

Julie Poitras-Saulnier and David Cote of Montreal, QC pitched Loop, a circular economy company that turns surplus fruits and vegetables rejected by a major distributor into cold-pressed juices, asking for $300,000 for 10%. The company pays a fixed price of about 20 cents a pound for produce, compared to $1.50 to $2.50 for competitors, and is sold in Quebec grocery chains including Metro and Sobeys. The founders have invested $510,000 of their own money, own 50% of the company with their distributor owning the other 50%, and project $2 million in sales for the year. David Cote previously founded the Crudessence restaurant chain and RISE Kombucha.

Michele Romanow went out, saying other Dragons could help more despite liking the deal. Jim Treliving and Manjit Minhas each offered $300,000 for 10%. Lane Merrifield and Michele Romanow reconsidered and made a joint offer together. Vincenzo Guzzo offered $300,000 for 20%. Arlene Dickinson offered $350,000 for 10%, citing her food and beverage fund's ability to provide follow-on capital, and the founders accepted her offer.

Loop is still operating and sells through its website.