Ovry

Jackie Rhind, from Revelstoke, BC, asked for $400,000 for 16% of Ovry, a company selling simplified, low-plastic pregnancy tests, ovulation tests, and an at-home male fertility test that use a small test strip and a reusable collection cup rather than a midstream test. A 10-pack retails for $33, sells wholesale for $17.50, and costs about $5 to manufacture. Sales were $330,000 in year one, $660,000 in year two, and are on track for $1.4 million this year, with a projected $2.5 million and $400,000 in profit next year; products are sold at Jean Coutu, London Drugs, Rexall, 40 Metro locations, over 100 independent retailers, 190 Walmarts, and the male fertility test is in all 1,200 Shoppers Drug Mart locations. Jackie Rhind said the strip itself is not proprietary, and described a longer-term vision to expand into prenatal and postnatal vitamins, birth control, and other menstrual care products, eventually converting the company into a member-owned reproductive health cooperative.

All five Dragons declined to invest, citing concerns including the sales trajectory not supporting the valuation, lack of passion for the category, the risk that the future cooperative structure could dilute an investor's stake, insufficient focus given the expansion plans, and general reluctance despite admiration for the business.

Ovry is still operating and sells through its website.