Sea Gods

Mandy and Ryan, from White Rock, British Columbia, asked for $750,000 for 30% of Sea Gods, a line of inflatable stand-up paddle boards featuring commissioned artwork from independent artists, using PVC fused to drop-stitch construction for rigidity. Boards range from $1,229 to $1,449, and the company has done $4.4 million in sales since starting in 2018, with $1.9 million to $2 million in sales and $216,000 in profit last year; they project $3 million next year. The business carries about $575,000 in debt, production takes about six months, and the requested funds would go toward next year's inventory purchase after running out of stock three times due to cash constraints.

Vincenzo went out over concerns about upfront inventory costs and the long lead time, and Robert Herjavec followed citing inventory complexity at this scale. Wes Hall said he would be a customer but not an investor, Manjit Minhas felt it was more of a lifestyle business without enough differentiation to scale, and Michele Romanow said the investment size was too large for the expected return. All five Dragons declined to invest and there was no deal.

We haven’t confirmed whether Sea Gods is still operating.