ABC's Shark Tank Season 16's fourth episode aired recently on November 8, 2024. Among many other products featured in the fourth episode, Fysh Foods is a vegan fish brand owned by entrepreneurs Zoya and Alix. One of the judges found the idea of a plant-based seafood brand led by two women interesting.
Zoya and Alix, based in Los Angeles, shared that they were interested in healthy, cruelty-free alternatives and offered delicacies to the world. Their initial ask was $150k in exchange for 10% of the company's stock.
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For that, Zoya Biglary and Alix Traeger pitched their innovative product, a plant-based seafood company selling alternatives to popular seafood dishes. Look at everything that happened on Shark Tank Season 16 Episode 4 with Fysh Foods.
Shark Tank Season 16: Zoya Biglary and Alix Traeger's Fysh Foods
Los Angeles, California-based women entrepreneurs Zoya Biglary and Alix Traeger pitched their unique product on Shark Tank Season 16 Episode 4. Their product was plant-based alternatives to seafood such as sushi, salmon, and even yellowtail.
"Our plant-based raw fish is made from a unique blend of organic fruits, vegetables, sea algae, and fermentation magic," shared Zoya.
Their website describes their items as "Fish made from plants, created by chefs." Among many benefits, the website also highlights some vital features, such as its vegan, gluten-free, soy-free, and cruelty-free products. From 2 packs of Fysh, users can make 12 sushi rolls.
As soon as the duo started their pitch, it caught Sharks' attention. They mentioned wanting to have a "vegan alternative" for foodies because various chemicals in fish and other seafood, including mercury, microplastics, and parasites, make seafood unhealthy.
"A plant-based seafood company made in the kitchen by chefs, and not in a lab by mad scientists," duo shared
They continued:
"To create the world's best tasting, almost-like-the-real-thing version of tuna, salmon and yellowtail."
Hence, they came up with the idea of Fysh Foods, a plant-based alternative that offers an even healthier option with no environmental factor or threat to anyone's health. As they mentioned on Shark Tank's fourth episode, their products are made from plant-based blends that taste like salmon, tuna, and yellowtail.
While Zoya is a private chef, Alix has a strong background in the food industry and has been associated with building Buzz Feed's Tasty Brand. They shared how, even with 3 million plus social media followers, the duo had made around $52,000 in the last year while selling their products via B2B, limited to Los Angeles.
They shared their vision of selling directly to customers. Talking about their profits, Zoya and Alix shared that their initial produce cost them around $4 a pound, which they sold for $10- $13. It was comparatively cheaper, as the real fish cost around $20-$40.
They came with some samples, including spicy tuna crispy rice, smoked lox, and ceviche. After tasting them, Sharks shared how their samples tasted exactly like the seafood and that some people might not even be able to differentiate that it was not real seafood.
Shark Tank Season 16: What did the Sharks share about Fysh Foods?
Shark Kevin discussed how Zoya and Alix were not utilizing their 3 million followers to expand their customer base. The entrepreneurs shared that they required funds for that. Kevin was out, and soon, after reviewing the numbers, Robert and Mark followed.
However, the guest shark, Daniel Lubetzky, had a counteroffer: $150k for 40% of Fysh Foods. After a minute, the ladies presented their counteroffer and asked Daniel to reduce it to 20%. He reduced it to 35%, and finally, all the parties agreed to 30%.
By the end of Shark Tank Season 16 Episode 4, both Zoya and Alix walked out with a deal for their vegan plant-based food brand, Fysh Foods.
Fans can stream the latest Shark Tank Season 16 episodes on ABC on Fridays at 8 pm ET.
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