Where Is Umaro Foods From Shark Tank Today?
Is there anything more beautiful than bacon? Often enjoyed fresh from the pan alongside a pile of scrambled eggs, bacon is equal parts fatty, crispy, and delicious. And it isn't limited just to breakfast time. If you want to enjoy breakfast for dinner, you could try making any one of these salty bacon recipes. Additionally, you might remember the crispy cut of pork taking over the world a few years back, during which time bacon was being paired with everything from desserts to drinks, per Time.
However, there are quite a few folks out there who, for one reason or another, either cannot or choose not to eat bacon. Until recently, they were relegated to the realm of turkey bacon, and this still excluded people following plant-based diets. However, a bacon alternative has exploded onto the scene, and the company has secured a sizable "Shark Tank" investment along the way.
Umaro's bacon enticed the sharks
The plant-based meat alternative business has been booming in recent years. If the industry's growth continues at a consistent rate, the value of meat substitutes sold worldwide is expected to be greater than $35 billion in only a few years, per Statista. Many meat alternative companies have appeared on "Shark Tank," including the plant-based burger business Everything Legendary. So it makes sense that Umaro was able to secure a large investment.
Umaro Foods appeared on Season 13, Episode 18 of "Shark Tank." In their pitch (via YouTube), company co-founders Beth Zotter and Amanda Stiles originally requested $500,000 in exchange for a 2% share of their company. Robert Herjavec and Emma Grede decided the request was too steep and opted not to invest. However, Kevin O'Leary bit and pitched an investment of $500,000 for an 8% share.
When the founding pair countered O'Leary, asking for $1 million in exchange for the higher percentage share, Mark Cuban leapt at the offer. Though Lori Greiner threw her $500,000, 4% investment offer into the ring, Umaro ultimately settled with Cuban, though they negotiated him down to a 7% stake.
Umaro after Shark Tank
The official Umaro Foods website explains that its bacon alternative is made out of protein derived from ocean seaweed, which is far more sustainable than traditional protein sources. And co-founders Beth Zotter and Amanda Stiles' forward-thinking company attracted the attention of more than just Mark Cuban.
According to Vegconomist, Umaro Foods secured an additional $3 million in investments from several sources with the help of venture capital firm AgFunder. And a September 2022 press release revealed that NBA superstar Chris Paul also invested in the company. (Paul has been vegan since 2019, per Gentleman's Quarterly.)
If you're looking for a sustainable seaweed snack, you can enjoy Umaro's bacon at D'Andrews, a cafe in Nashville, as well as at San Francisco's Michelin-starred Sorrel and New York City's Egg Shop, per The Tennessean. And if you want to start your mornings at home with the smell of sizzling seaweed, you can purchase a five-pound case, which contains 255 slices of Umaro bacon, for $79.99 (via WebstaurantStore).