Umaro Foods, a plant-based vegan bacon restaurant chain featured on Shark Tank Season 13 Episode 18, sources its protein from ocean-farmed seaweed. Founded by Beth Zotter and Amanda Stiles, the brand sought a $500,000 investment for a 2% equity stake during the show.
Focusing on a unique technology, they revolutionizes the food industry through its Seaweed Farming Method, augmenting food production without land use change and deforestation.
What is Umaro Foods?
Located in Albany, California, they leverages seaweed to create natural proteins for women and children. This startup, established in 2022, capitalizes on seaweed as a primary source of natural protein, promoting it as the most natural protein source due to its growth in the ocean, free from traditional cultivation practices.
The brand supplies vegan bacon food that emulates the taste and texture of traditional meat bacon, catering to health-conscious consumers. Umaro Foods‘ ingredients include seaweed, chickpea, coconut, sunflower, plant flavors & colors, sea salt, and sugarcane.
Founders and Team:
Beth Zotter, the CEO and Co-Founder, is a Technology Entrepreneur specializing in Renewable Energy, having prior experience in science-based startups and R&D programs in biofuels. Amanda Stiles, the CTO and Co-Founder, holds a Ph.D. in plant biochemistry and was part of the research team at Ripple Foods.
Umaro Foods’ team also comprises Director of Business Operations, Royal Sayewitz, and Protein Scientist, Tim Arapov.
Pre-Shark Tank and Growth:
After securing $3 million in funding on Jan 27, 2022, Umaro Foods embarked on research and product quality enhancement. Launching its food service at $18 per pound, the brand focuses on delivering high protein content and exceptional taste.
Post Shark Tank:
The brand received substantial attention and popularity following its appearance on Shark Tank. Health-conscious consumers seek chemical-free and healthy food alternatives, drawing more attention to Umaro Foods.
While not finalizing a deal on the show, Umaro Foods’ proposition drew interest from the Sharks. Despite seeking $500,000 for a 2% equity share, counteroffers arose, including Kevin O’Leary’s 8% equity for $500,000 and a subsequent offer from Mark Cuban and Lori Greiner.
Mark Cuban eventually agreed to invest $1 million for a 7% equity stake, indicating significant potential value for Umaro Foods.
What is the Net Worth Of Umaro Foods?
Based on their recent funding of $3 million, Umaro Foods‘ estimated net worth could be around $14 million. With ongoing innovation, the brand has the potential to revolutionize the food industry.
Ongoing Operations:
Umaro Foods continues to operate in the San Francisco area, contributing to the growth of seaweed farming through innovative technology. The company collaborates with academic institutions and operates from its headquarters in the San Francisco Bay Area with a small team of 1 to 10 employees.
Conclusion:
Umaro Foods, despite not securing a deal on Shark Tank, gained significant traction and investor interest. With its innovative approach to vegan bacon production, reliance on seaweed-based protein, and ongoing research, it stands poised to make significant waves in the food industry.
