District Ventures Capital has made a landmark bet on women’s intimates, leading a CAD 20 million investment in Huha Wear Inc., the largest deal in the history of Dragons’ Den and the fund’s largest investment to date. This funding is set to accelerate Huha’s product innovation, category leadership, and expansion into new markets as the brand pushes a health-first approach to underwear.
A record-breaking Dragons’ Den deal
The investment marks the largest deal ever tied to CBC’s Dragons’ Den in its 20-year run, stemming from a pitch originally made on Season 18 by Huha founder Alexa Suter, where she struck a deal with Arlene Dickinson. That televised agreement has now evolved into a CAD 20 million round led by District Ventures Capital, with co-investors including Export Development Canada, underlining investor confidence in the brand’s growth trajectory.
District Ventures Capital, founded and led by Arlene Dickinson, focuses on innovative CPG brands in food, beverage, and health and wellness, pairing capital with strategic support in marketing and commercialization. The firm manages around CAD 100 million across its funds and positions this investment as a key step in backing Canadian brands that marry strong consumer resonance with scalable business models.
Huha’s health-first underwear proposition
Founded in 2019 and based in Vancouver, Canada, Huha has quickly built a following with its Mineral Undies™ line, which combines breathable, tree-derived fibres with liners that incorporate antimicrobial zinc oxide. The brand’s core idea is to design underwear that supports women’s comfort and wellness, prioritizing breathable, skin-friendly fabrics that work with the body rather than against it.
On its own platform, Huha positions its products as “skin-layer basics for bodies that breathe, sweat, move, and live,” leaning into the wellness narrative around intimate apparel. The collection has expanded beyond underwear to include bras, tanks, boxers, and shorts, offering inclusive sizing from 2XS to 3XL, catering to a wide range of body types and preferences.
Fabric innovation and functional design
Huha’s garments are made using TENCEL™ and SMARTCEL fabrics, with the latter permanently spun with soothing, natural antimicrobial zinc oxide. This approach aims to deliver softness, breathability, and long-lasting freshness, differentiating the brand from conventional cotton or synthetic-heavy intimates.
The brand also focuses heavily on cut and construction, emphasizing full-coverage gussets and friction-minimizing materials designed to reduce irritation and support everyday comfort. Together, fabric innovation and functional design allow Huha to compete as both a wellness solution and a fashion-forward basics label in the women’s intimates category.
From a personal problem to a category opportunity
Founder Alexa Suter created Huha after her own experience with recurring UTIs, which led her to question the materials and designs used in everyday underwear. That personal health challenge evolved into a broader mission to rethink women’s base layers through fabrics and fits that support, rather than compromise, intimate wellness.
District Ventures’ strategy and support
District Ventures Capital specializes in investing in innovative companies across food, beverage, and health and wellness, with a model that brings together capital, marketing expertise, and commercialization support. The fund positions itself as a partner for scaling CPG brands, drawing on networks within Canada and beyond to help founders move from early traction to broader market presence.
The Huha deal fits within District Ventures’ strategy of backing Canadian consumer brands that combine a strong vision with scalable unit economics and a clear path to market leadership in their category. Through the fund’s ecosystem, Huha gains access to mentorship, marketing platforms, and commercialization programs designed to help accelerate growth in both digital and physical retail channels.
Expansion plans and market potential
With the $20 million capital injection, Huha plans to invest in continued product innovation, strengthen its leadership in the women’s intimates category, and expand into new markets. This includes scaling reach beyond its current core customer base and expanding distribution as retailers increasingly seek health-driven, fabric-differentiated basics.
The brand sells directly through hu-ha.com, where it highlights its mineral fabric story and promotes category-spanning “skin-layer” essentials, signaling a strategy focused on building loyalty and basket size rather than one-off purchases. As wellness continues to influence consumer choices in apparel, Huha’s positioning at the intersection of comfort, health, and everyday wear puts it in a strong place to capture share in the premium basics market.
