The pitch
What walked into the Den
Ananda Elixirs, based in Ottawa, makes functional sodas and mocktails built around mushrooms, founded by siblings Sammi and Dylan Dreiling.
They pitched in season 20, asking $250,000 for a 10 percent share and valuing the company at $2.5 million.
After the show
What happened next
The brand is active and growing its range. In July 2026 the site was running live e-commerce with five Shroom Soda flavours plus a new Mushroom Mocktails line, working purchase buttons, a wholesale program and press mentions.
Our read
The Hub verdict
A 10 percent ask valued this functional-soda brand at $2.5 million, and Michele Romanow and Manjit Minhas said the number was too high before they said yes. They opened at $250,000 for 30 percent plus a royalty until they doubled their money, the founders pushed the equity back toward 15 percent, and the pair settled with a 5 percent royalty running until the cheque came home. Royalty on top of equity is how Dragons de-risk an unproven drinks brand. The range has since grown to five Shroom Soda flavours plus a mocktail line, with purchase buttons live in mid-2026.
Romanow and Minhas in for $250,000 plus a royalty
Worth knowing: The ask numbers are from the aired pitch.
