$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Marco Longley & David Bernhardt from Richmond, BC, pitched The TwoCan Cane in Season 10, Episode 13, asking the Dragons for $50K for 10% of the company.
- Asked for$50K for 10%
- Valuation$500Kimplied by the ask
- OutcomeDealwith Manjit Minhas
- Final deal$50K for 25%valued at $200Kplus a royalty: 3% royalty starting year one
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Joe Mimran | No offer, felt far more than $50,000 would be needed for manufacturing and inventory | Out |
| Michael Wekerle | No offer, valuation too high | Out |
| Michele Romanow | No offer, concerned about new competing cane technology | Out |
| Manjit Minhas | $50,000 for 25% equity plus 3% royalty starting year one | Accepted |
Marco Longley, from Richmond, British Columbia, and David Bernhardt, from Winnipeg, Manitoba, pitched The TwoCan Cane, asking for $50,000 for 10 per cent equity. The product is a two-cane mobility aid designed to provide balance and stability similar to a walker while keeping the convenience of a cane; it also converts into a full-size crutch. The current version is a 3D-printed prototype, with the final product planned to have a metal core and shaft with a silicone over-mould rated to exceed 250 pounds, and is intended to retail for around $90 each. Marco Longley had previously pitched The HEFT in the Den in 2012, a licensed product with Home Hardware that achieved record sales in the millions of dollars, and the pair said they now wanted to move into manufacturing rather than licensing.
Joe Mimran, Michael Wekerle and Michele Romanow declined, citing the high valuation, the need for much more capital for manufacturing, and worries about competing cane technologies entering the market. Manjit Minhas offered $50,000 for 25 per cent equity plus a 3 per cent royalty starting in year one, which Marco Longley and David Bernhardt accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
The TwoCan Cane today
- StatusStatus unknownLast checked ########
We haven’t confirmed whether The TwoCan Cane is still operating.