Philly’s Maya Nazareth lands $300,000 deal on ‘Shark Tank’

Philadelphia entrepreneur Maya Nazareth, the founder of Alchemize Fightwear, delivered her pitch to celebrity investors on ABC’s Shark Tank on Wednesday.

In hopes of striking a deal for her women’s combat sports apparel company, the Forbes 30 Under 30 honoree appeared on episode four of the hit show’s 17th season.

When she was 17, Nazareth said, she transformed her passion for jiujitsu into a woman-centered, high-performance fightwear brand from the ground up. Today, Alchemize makes a range of apparel for women training in martial arts, boxing, wrestling, and jiujitsu.

“I think it’s so much bigger than combat sports,” Nazareth said of her company’s appeal. “We’re for the fighter in every woman.”

After noticing a lack of womenswear options in combat training, which often “makes a lot of women quit,” Nazareth said she started the business as a University of Delaware college student in 2020.

The apparel brand founder presented in front of regular “sharks” Daymond John, Lori Greiner, Kevin O’Leary, and Kendra Scott, and guest investor Alexis Ohanian.

Ohanian, the cofounder of Reddit and husband of tennis legend Serena Williams, expressed early interest in Nazareth’s company. He cited data explaining why a lack of properly-fitting sports bras turns school-age girls away from competing in athletics.

Nazareth initially sought a $250,000 investment in exchange for a 5% stake in Alchemize. The sharks were hesitant about the price tag and competition from apparel giants like Nike and other major retailers.

“You’re competing against folks that have built brands that people will tattoo on their bodies,” Ohanian said. “The brand you’re going to have to build is going to have to be something very formidable and compelling.”

In response, Nazareth pointed to her brand’s strong social media engagement and $1.8 million in lifetime sales at the time of recording. In 2024 alone, Nazareth said the company had nearly $500,000 in sales.

After a series of counter offers, Ohanian, Greiner, and Scott teamed up for a $300,000 offer in exchange for a 15% stake in the business, split equally among the three investors.

Nazareth attempted to negotiate the equity stake down to 12%, but ultimately accepted the three sharks’ offer. “We’re about to build a world-class community in movement for the fighter in every woman,” Nazareth said on-screen.

In an interview with CNBC Make It, Nazareth declined to confirm whether the deal was finalized off-screen. But she said her plans are to use the capital to scale up marketing and “continue to amplify the brand.”

During the episode, Nazareth was joined by the founders of an at-home sprout grower and a pet-first aviation service. Other competitors included Orka Bar founder Stephen Longo, of Belmar, N.J., who pitched his high-protein dessert. The Jersey Shore business owner secured a $100,000 investment for a 25% stake in the brand.

To watch the episode, visit abc.com or stream “Shark Tank” on Hulu.