$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
David Tao, Jayden Li from Toronto, ON, pitched TappLock Corp. in Season 11, Episode 16, asking the Dragons for $200K for 5% of the company.
- Asked for$200K for 5%
- Valuation$4Mimplied by the ask
- OutcomeDealwith Michele Romanow
- Final deal$200K for 5%valued at $4Mplus a royalty: Royalty until investment is repaid, then 5% equity
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Joe Mimran | No offer, felt product was still at prototype stage with no user feedback | Out |
| Manjit Minhas | $200,000 for 8% equity | Declined |
| Michael Wekerle | $200,000 as a royalty deal until his initial investment is recovered, then staying in for 5% equity | Declined |
| Michele Romanow | 5% royalty, then 6.15% equity for $200,000, matching the incubator round valuation | Accepted |
| Jim Treliving | No offer | Out |
David Tao and Jayden Li of Toronto asked for $200,000 for 5% of TappLock, a smart fingerprint padlock unlockable by fingerprint or Bluetooth, with a shared-access mobile app feature. The lock has a steel shackle and zinc alloy body with a built-in alarm and a pending patent, retailing at $60 to $70 and manufactured in Taiwan with a supplier in China. Their February Indiegogo campaign raised about $230,000 and sold 5,000 units, and without further marketing they were still selling 800 units per month; the founders, both Queen's University engineers, had invested $40,000 personally plus $84,000 in angel investment at a valuation set through the Hax hardware accelerator at $2.5 million, though they were asking based on a $4 million valuation.
Joe Mimran declined, saying the product was still essentially a prototype with no user feedback despite pre-orders. Jim Treliving also declined without making an offer. Manjit Minhas offered $200,000 for 8% equity, and Michael Wekerle offered $200,000 as a royalty deal until his investment was recovered, then 5% equity. David Tao and Jayden Li accepted Michele Romanow's offer of a 5% royalty until her investment was returned, then 6.15% equity, matching the incubator round valuation.
Pitch details from CBC’s Dragons’ Den pitch page.
TappLock Corp. today
- StatusIn businessLast checked September 2026
TappLock, the smart fingerprint padlock originally pitched by David and Jaden who secured a deal with Michele Romanow, returned in season 12 to show progress. Michele Romanow travelled to China with David to oversee manufacturing and negotiate with vendors, and the product is now selling online and in stores with reported sales of $450,000 per month after a month and a half on the market. The company now has offices in both Toronto and China and plans to expand into home locks and bike locks.