Truly Turmeric

Umeeda Switlo, Nareena Switlo and Leon Higinio, from Vancouver, British Columbia and Belize, asked for $75,000 for 10% of Naledo's Truly Turmeric, a fresh wild-crafted turmeric paste made from whole turmeric root, cold-pressed coconut oil, lime juice and sea salt, sourced from 350 small-scale growers in Belize. The paste, sold in regular and black pepper flavours, contains 7.6% curcumin compared to about 2% in powder form, and is sold online and in retailers such as Whole Foods, Longo's and Choices for $12 to $19 a jar. The company launched in Canada in May 2016, did $57,000 in sales in its first six months, $250,000 in its first full year in 2017, and is projecting $500,000 in 2018 while onboarding a US distributor, with net margins around 50%. The founders currently produce about 10,000 jars a month using a five-gallon mixer and have ten additional products in research and development.

Michele Romanow offered $75,000 for 25%. Lane Merrifield offered $75,000 for 20%. Vincenzo Guzzo offered $150,000 for 50%. Jim Treliving and Manjit Minhas each offered $100,000 for 15%. Arlene Dickinson offered $150,000 for 25%, later reducing it to 20% at the founders' request, which they accepted.

Truly Turmeric is still operating and sells through its website.