Plant-Based Seafood Lands Investment on Shark Tank

Written by the VEGPRENEUR team

Women-led plant-based seafood company Fysh Foods landed an investment on the popular tv show Shark Tank this week!

In November 8, 2024’s Shark Tank episode, entrepreneurs Zoya Biglary and Alix Traeger pitched their innovative plant-based seafood company, Fysh Foods. The duo, a couple based in Los Angeles, California, is on a mission to disrupt the seafood industry with a sustainable, healthy, and cruelty-free alternative to fish—perfect for sushi, ceviche, poke bowls, and more.

The team also joined VEGPRENEUR as panelists for our Future of Food panel hosted with Silicon Valley Bank in 2023.

Their pitch caught the attention of the sharks, especially with a taste test that wowed even the most skeptical investors. Zoya and Alix introduced their product line, which includes vegan alternatives to popular sushi fish like salmon and yellowtail. What set Fysh Foods apart from other plant-based alternatives on the market was its commitment to creating products made by chefs in the kitchen—not in a lab. This commitment to quality and taste impressed the sharks, but the road to a deal was anything but smooth.

Zoya and Alix started their pitch with a bold statement: today’s sushi is filled with mercury, parasites, and microplastics. The couple believes that the seafood industry is facing serious sustainability challenges, and they wanted to offer a solution. Fysh Foods provides a plant-based alternative to traditional fish, offering the same flavors and textures without the environmental and health risks associated with seafood. Their products are made from a blend of plant-based ingredients that mimic the taste and texture of tuna, salmon, and yellowtail, all while providing essential nutrients like omega-3 fatty acids, iron, and fiber.

The couple’s background in food and social media gave them an edge. Zoya, with her experience as a private chef, and Alix, who helped build BuzzFeed’s Tasty brand, had a solid understanding of what it takes to succeed in the food industry. They had already built a loyal following with 3 million social media followers, which they intended to leverage for future growth.

However, when the sharks asked about their sales figures, Zoya and Alix revealed that they had only made $52,000 in the previous year, selling B2B wholesale within Los Angeles. They had not yet launched a direct-to-consumer model, but that was part of their plan—if they could secure the right funding.

Zoya at VEGPRENEUR’s Future of Food panel in Los Angeles in November 2023

Despite their promising product and strong social media presence, the sharks weren’t impressed by the numbers. Kevin O'Leary was quick to point out that with 3 million followers, they could easily sell their product directly to consumers. The entrepreneurs explained that they needed investment to scale up their operations and build out their D2C (direct-to-consumer) model. Kevin, however, was unconvinced and dropped out, while Robert Herjavec also bowed out, citing the company’s lack of traction in sales.

Mark Cuban was next to pass, expressing concerns about the difficulty of scaling the business. With three sharks out of the deal, it seemed like Fysh Foods might walk away empty-handed. But then, guest shark Daniel Lubetzky, founder of KIND Snacks, stepped in with an offer that changed the course of the pitch.

Daniel saw potential in Fysh Foods but wanted a bigger stake in the company. He offered $150,000 for a 40% equity share, much higher than the 10% Zoya and Alix had initially asked for. The duo hesitated, unsure if they were willing to give up so much control. Kevin O’Leary chimed in, joking that they could end up "living in a shack by the river" if they turned down Daniel’s offer, while Mark Cuban quipped that the alternative might be "handing out jets to your children."

Despite the pressure, Zoya and Alix pushed back, countering with an offer of 20% equity. Daniel wasn’t ready to meet them halfway, but after some back and forth, they settled at a final deal: $150,000 for a 30% stake in Fysh Foods.

With the Shark Tank deal secured, Zoya and Alix are poised to take Fysh Foods to the next level. The funding will allow them to scale up production, expand their distribution, and launch a direct-to-consumer sales channel. The couple’s vast social media following will likely play a key role in this expansion, allowing them to tap into a market of eco-conscious, health-minded consumers eager for sustainable alternatives to traditional seafood.

What makes Fysh Foods unique is not just the plant-based nature of their products, but their focus on quality and culinary experience. With products that chefs can use in a variety of dishes—from sushi to poke to ceviche—the brand has the potential to appeal to both home cooks and professionals in the foodservice industry. And with the added health benefits of omega-3s, iron, and fiber, Fysh Foods offers a compelling alternative to traditional fish that’s better for you and the planet.

The future looks bright for Zoya and Alix as they continue their mission to make plant-based seafood accessible to everyone. With the backing of Daniel Lubetzky and the momentum from their appearance on *Shark Tank*, Fysh Foods is ready to revolutionize the way we think about fish—and perhaps, the way we eat it—one vegan sushi roll at a time.