The Spa Dragon

York Sikora, from Ottawa, asked for $70,000 plus a $1 million line of credit for inventory in exchange for 8% of his company, The Spa Dragon, a Wi-Fi-enabled backup heating device that prevents hot tubs from freezing during winter power outages or breakdowns by monitoring water temperature and activating a heater. The device retails for $799, costs $162 to make, and is manufactured in China with the first production run finishing the following month; the company is pre-revenue after six years of development and $550,000 invested, including $50,000 from the founder's late mother. York Sikora runs a hot tub service company that receives three to five calls per week in winter from customers with frozen tubs, and estimated the total addressable market at 4.68 million hot tubs in cold climates across North America.

Robert Herjavec went out, saying the hot tub industry did not excite him. Michele Romanow went out, citing lack of relevant knowledge to help. Manjit Minhas called the market too niche and went out. Vincenzo Guzzo questioned the market size claims and made no offer. Arlene Dickinson said she did not see the opportunity as big enough and went out for now, leaving the founder without a deal.

The Spa Dragon is still operating and sells through its website.