Berkeley, California, March 7 – Today, Umaro Foods announced $3.8m in new financing on the heels of a remarkable sixfold growth in sales. With the new financing, the company will launch into retail and expand the seaweed platform technology underpinning all the company’s product innovations.

Major Retail Launch and New Product Innovation at Expo West

In a strategic move to broaden its market reach, Umaro Foods is expanding its food products into retail, with a major launch planned for 2024. This expansion is a testament to the company's growing influence in the food industry and its commitment to making sustainable, seaweed-based products more accessible to consumers.

“People love our bacon because it nails the crispy, fatty texture of pork bacon.” said Beth Zotter, Umaro’s CEO.

“Our innovative, seaweed-based formula for bacon is what differentiates our product from other brands and is now patented in the US. After achieving incredible traction in restaurants across the country, with sales growing sixfold in one year, we’re looking forward to reaching new customers.”

In addition to unveiling its retail package for its banner product, Umaro Foods will showcase two new products at this year's Expo West: a Bacon, Egg & Cheese breakfast sandwich and Umaro Bacon Bits. These additions highlight Umaro's dedication to innovation and addressing consumer needs with novel food solutions.

The new sandwich was inspired by the overwhelming popularity of the top-selling “B.E.C” sandwich served in more than 60 bodegas across New York City. Attendees are invited to visit Umaro Foods at Booth 211 to experience the product innovations firsthand.

Capital Efficient Production and Notable Funding Achievements

Umaro Foods' next phase of growth is fueled by an automated, high-throughput manufacturing process that will produce its plant-based bacon product at half the cost of pork bacon. “Scaling up is all about unit economics, and that’s why we used our last round of financing to prepare for high throughput, low capex manufacturing,” said Zotter.

“We are laser focused on undercutting Hormel and Smithfield on cost.”

This capital-efficient production is a key element in Umaro's strategy to scale up and meet increasing demand.

The recent Seed 2 equity funding round, along with a grant from the DOE’s ARPA-E program for the application of Umaro’s seaweed processing technology to new products, are significant endorsements of the company's vision and technological advancements. These achievements not only validate Umaro Foods' innovative approach but also secure its position as a leader in the future of food technology.

The equity funding round was led by AgFunder and was joined by Alexandria Venture Investments, Climate Capital Bio, Ponderosa Ventures, and early investor and NBA all-star Chris Paul. 

"We are immensely grateful for the support from our investors and the DOE's ARPA-E program," said Zotter. "This funding not only fuels our growth but also accelerates our mission to create sustainable, delicious alternatives that benefit both people and the planet. We’re excited to embark on this next chapter."

About Umaro Foods

Umaro Foods is at the forefront of sustainable food innovation, specializing in seaweed-based products that offer environmentally friendly and nutritious alternatives to traditional food options. With a commitment to sustainability, health, and taste, Umaro is dedicated to revolutionizing the food industry with its unique seaweed processing technology and delicious, innovative products.

For more information please email info@umarofoods.com