Plant Based Fish
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Shark Tank Spotlight
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In the ever-evolving world of plant-based foods, Finneato Fysh Foods Shark Tank has emerged as a trailblazer, offering a unique alternative to traditional seafood. Founded by Los Angeles-based influencers Zoya Biglary and Alix Traeger, this innovative company recently made waves on the popular TV show Shark Tank, securing a deal with investor Daniel Lubetzky.
Zoya Biglary, a private chef, and Alix Traeger, a former Buzzfeed Tasty writer, founded Finneato Fysh Foods in 2021. Their mission was to create a plant-based seafood alternative that addresses the health and environmental concerns associated with traditional seafood. With a focus on using natural ingredients and age-old fermentation techniques, they aimed to offer a product that not only mimics the taste and texture of real fish but also provides nutritional benefits.
Finneato Fysh Foods offers a range of plant-based seafood products made from a blend of root vegetables, pea protein, and other natural ingredients. Their products boast 4g of protein, 3g of fiber per serving, and are rich in micronutrients like iron, potassium, omega-3 fatty acids, and vitamins A and B12. The versatility of their products allows chefs to use them in various dishes, from sushi to ceviche, offering a sustainable and affordable alternative to traditional seafood.
Appearing on Shark Tank was a pivotal moment for Finneato Fysh Foods. Biglary and Traeger sought $150,000 for a 10% stake in their company. Their pitch highlighted the health risks of consuming traditional seafood, such as mercury and microplastics, and emphasized the benefits of their plant-based alternative. The Sharks were impressed with the taste and texture of their products, which include vegan versions of tuna, salmon, and yellowtail.
Season and Episode |
Season 16, Episode 4 |
Air Date |
November 8, 2024 |
Entrepreneurs |
Zoya Biglary and Alix Traeger |
Product |
Plant-based seafood alternative, which mimics the taste and texture of raw fish while being free of contaminants like mercury and microplastics. |
Investment Sought |
$150,000 |
Equity Offered |
10% |
Initial Sales |
$50,000 through B2B sales since launching in 2023. |
Retail Plans |
Focus on B2B model, supplying frozen fillets to food service providers in Los Angeles. They also plan to increase production and expand their B2B network. |
Shark Reactions |
Kevin O’Leary, Robert Herjavec, Lori Greiner, and Mark Cuban did not make offers due to concerns about sales, scaling challenges, and the business being in its early stages.
Daniel Lubetzky, a guest shark, showed interest and made an offer. |
Bidding War |
No bidding war as only Daniel Lubetzky made an offer. |
Final Deal |
Daniel Lubetzky offered $150,000 for 30% equity, which was accepted. |
*After the filming of a Shark Tank episode, investments are subject to thorough audits and evaluations. During this time period, the terms of the investment can be altered or canceled by either party. As a result, the deals presented on the show may not always come to fruition for various reasons. This site does not guarantee the accuracy of any final investment figures.
Despite initial concerns about their business model and financials, Biglary and Traeger’s negotiation skills shone through. Daniel Lubetzky, known for his success with Kind snacks, offered them the $150,000 they requested but for a 40% stake. After some back-and-forth, they agreed on a 30% stake, valuing the company at $500,000. Lubetzky’s investment has been instrumental in helping them scale their business and expand their reach.
The success of Finneato Fysh Foods on Shark Tank has not only provided them with the financial backing needed to grow but also increased their visibility in the plant-based food market. Their commitment to addressing the environmental and health issues associated with seafood consumption positions them as leaders in the industry. As they continue to innovate and expand their product line, Finneato Fysh Foods is poised to make a significant impact on the future of sustainable food.
Finneato Fysh Foods is more than just a plant-based seafood company; it’s a movement towards healthier, more sustainable eating. With the support of Daniel Lubetzky and their growing customer base, Biglary and Traeger are set to revolutionize the way we think about seafood. Their journey from Shark Tank to becoming industry leaders is a testament to their creativity, confidence, and determination to make a difference.
