It is believed that all life forms were first born in the ocean. What if you could get that delicious bacon you crave from the ocean too? You heard me correctly. This protein alternative comes from the sea. This means that your favorite bacon has a plant-based alternative made from red seaweed with the name Umaro bacon.
The venture Umaro Bacon has been founded by two brilliant minds Beth Zotter and Amanda Stiles. They are backed by business acumen and science to bring the product to you. Will the Sharks take a bite at this idea? let’s see.
Umaro Bacon at a glance.
|Business idea||Seaweed-based bacon|
|Founder||Beth Zotter and Amanda Stiles|
|Asked for||$500,000 for 2%|
|Accepted deal||$1M for 7%|
|Business status||In business|
|Episode||Season 13 Episode 18|
The team of Beth Zotter and Amanda Stiles has beaten all odds to come up with these products. Having expertise in environmental sciences, plant biochemistry, business acumen, and Research and development, they developed the product in San Francisco in their Protein product development Centre. The company is trying to grow seaweed and produce the product in the Gulf of Maine.
The technology behind this farming will be the answer to the next protein plant-based sensation. They then come to the Shark Tank to secure a deal in order to take their business further.
Did Umaro Bacon get a deal on Shark Tank?
The founders introduce themselves to the sharks, asking $500,000 for a 2% stake in their company that is dedicated to creating plant-based meat alternatives. They give some samples to the sharks and say that the seaweed-based alternative will taste just as good as the original, but Mark and Robert say that it does not really taste like bacon.
Lori then asks about costs and they talk about how the rate is supposedly around $7 per pound and how they might bring it down later. Robert doesn’t think that the industry can actually be worth their $25million by just saying that it tastes better than the original meat version, so he goes out. Kevin makes an offer of $500k at 8%, and the founders want $ 1 million for 8% instead, which Mark agrees to do, but Lori tries to go for $500k for 8%, insisting that she is the right shark but they ask Mark if he would go for $1million for 7%, to which he agrees.
What happened to Umaro Bacon after Shark Tank?
Even after the July 2022 rerun, it seems that the deal with mark has not closed. Yet the product is available in the Sorrell Restaurant, in San Francisco, The Egg shop in NYC, and D’Andrews bakery in Nashville.
In September 2022, the company announced that NBA star Chris Paul had invested in their company and will surely help them grow their footprint throughout the grocery stores and restaurants in the country.
- When you visit their website, you might not be able to purchase the product for personal use, but can for your business through wholesale.
- During the pitch, the founders seemed to mention the rate being around $7-8 per pound, but we cannot confirm.
- The company can be contacted at firstname.lastname@example.org for details.
- The company is based out of Albany, California.
Competitors of Umaro Bacon
There do not seem to be any competitors of this company as theirs is the first to commercialize the use of seaweed in the form of protein.
What is the net worth of Umaro Bacon?
The company had come into the tank with a valuation of $25 million as per the founders and as of 2022, the net worth of this company is $15 million.
Is Umaro Bacon still in business?
Umaro Bacon does seem to still be in business in 2022 but only seems to be taking commercial orders on their website and might be further developing their product.
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What is Umaro Foods?
Umaro bacon is a plant-based alternative made from red seaweed.
Who founded Umaro Foods?
The team of Beth Zotter and Amanda Stiles has beaten all odds to come up with these products. Having expertise in environmental sciences, plant biochemistry, business acumen, and Research and development, they developed the product in San Francisco in their Protein product development Centre.