The pitch
What walked into the Den
Hugzly, the connected plush toy from Frank Racanelli and Hannah Deckert that sends hugs, vibration, light and audio between paired units, opened season 20 as the premiere pitch in episode 1. The Delta, British Columbia team came in swinging hard, staking a huge number before a single Dragon responded.
Looked to land $3,000,000 in return for 30 percent, which implied about $10,000,000.
After the show
What happened next
No investment followed. On its own site the company states plainly that it did not walk away with a deal, an against-interest admission we treat as reliable, adding that the founders left proud regardless.
Current buying status is unclear. Loading the company’s site in July 2026 turned up shop and order navigation along with product names, though no prices appeared and the purchase flow stayed unconfirmed, so availability is left open for now.
Our read
The Hub verdict
Hugzly opened season 20 with one of the largest swings in our Canadian set: a three-million ask for thirty percent, a ten-million valuation on a connected plush toy, staked before a single Dragon responded. A premiere-slot pitch at that price is built to make a statement.
The result is a rare confirmed no-deal, and it comes from the company itself, whose own site states plainly that the founders did not leave with an investment, an against-interest admission we trust. Worth one caution: a similar-era Delta headline about a Den deal refers to a different, unrelated company, so we tie the no-deal strictly to Hugzly's own words. Current buying status stayed unverified, since no prices rendered for us.
A ten-million swing in the premiere, and a self-confirmed no-deal.
Worth knowing: One caution worth flagging: a similar-era Delta headline about a Dragons’ Den deal refers to a different, unrelated company, so we tie the no-deal here strictly to Hugzly’s own statement.
