UMARO Hooks Sharks, Closes Seed Series
UMARO Co-founders Reflect on Growth, Purpose, and Entrepreneurship
Beth Zotter and Amanda Stiles on Shark Tank (ABC/Christopher Willard)
Co-founded by CTO Amanda Stiles (Cohort 2020 Activate Fellow) and CEO Beth Zotter, UMARO Foods is developing the core technology to unlock ocean-farmed seaweed as a new source of protein for a thriving planet.
Umaro recently announced its closing of a $3M seed round. Led by AgFunder, the investment will support the launch of the company’s first product, an umami-rich, highly realistic plant-based bacon made with its proprietary red protein, UMARO™. Stiles and Zotter were also recently featured on an episode of ABC’s Shark Tank and set a new record for the highest valuation of a pre-revenue company in the show's 13-year history.
We asked Stiles and Zotter to share their perspectives on purposeful work, the role the Activate community has played in their journey as founders, and what motivates these two science entrepreneurs.
There has been a fair amount of news coverage in the past few years about people transitioning from their current positions or industries to instead do work they find more purposeful. Was there a lightbulb moment when you first realized you were drawn to a career that combined science entrepreneurship with mission-driven work?
Amanda Stiles, Cohort 2020 fellow, co-founder & CTO of UMARO Foods
Stiles: For me it was a conscious decision. I knew that there are a number of important problems in the world to solve, and I had to pick one. So, I picked one that was close to my heart—decreasing the factory farming of animals. Then I worked to figure out how I could use the skills that I already had (or could learn), to make progress in solving that problem. I planned to work in industry to make an impact, I didn't expect to actually be building a new company. I was lucky to be in the right place at the right time for Beth to invite me to join in on that part of the adventure.
Zotter: I have always been motivated to work in a career that I believe will have a positive impact on the world. When I was in grad school, the idea of making an impact through business was not a popular one among my peers. The decision to be an entrepreneur was a slow one that materialized as I kept myself working within the world of startups. I may have surprised a lot of people by starting my own company, but when I did I felt like I had been preparing for a long time.
Beth Zotter, co-founder & CEO of UMARO Foods
What is the most meaningful aspect of the work you're currently doing?
UMARO™ Bacon
Stiles: I'm really looking forward to getting a product on the shelf. Seaweed protein has been talked about in scientific literature for decades—UMARO is actually DOING it.
Zotter: Getting to build a consumer product brand was never something I envisioned for myself, but now that we are doing it, it’s thrilling to have my hands on the steering wheel in the development of a product and brand where people can feel good about the choice they are making.
“I know that in 20 years this community will be part of the origin story of some of the most innovative companies in the world.”
Amanda, as a graduating Cohort 2020 fellow what piece of advice would you share with incoming Activate Fellows or other first-time founders?
Amanda Stiles in the lab with seaweed protein
Stiles: The topmost important thing for me is having a co-founder. Alone, I never would have pushed myself past my personal risk tolerance to get my work out into the world. I likely would have found a way to purify the protein, but I would still be in the lab improving the process. There is no way I would have turned it into an actual product that is going into the world without Beth. My top advice is to find a partner (in my case I was lucky that she found me), and ideally, that person will complement your skillset rather than be someone that is just like you.
How has the Activate community impacted your journey to date?
The umami-rich, highly realistic plant-based bacon made with Stiles’ & Zotter’s proprietary red protein, UMARO™
Stiles: If I wasn't surrounded by a lot of other people trying to solve hard problems and having a hard time doing it, I think I'd still be in the mindset that everyone else knows what they're doing all the time. It's been great to be surrounded by the reality of the challenges of building a startup, rather than the idealized (and much easier version) that I would have expected otherwise.
Zotter: I had the special privilege of being on the Cyclotron Road staff in the early days, before launching my own startup. The community has been so powerful and inspiring. I met Amanda through the Activate network. I know that in 20 years this community will be part of the origin story of some of the most innovative companies in the world.
What role should a founder's values play in building an organization? How would you say your values have shaped UMARO?
Beth Zotter holds up seaweed
Stiles: I wouldn't be happy working every day in a company that didn't share my values. I'd have a hard time getting up in the morning to do the work. Therefore, I think a founder's values have to be part of shaping the organization, or it won't get off the ground in the first place. UMARO’s mission is a combination of my goal to create delicious plant-based foods that encourage people to move away from the factory-farmed animal system, and Beth's mission to protect the environment. Without our shared values to make this a success, we'd just be spinning our wheels.
Zotter: What Amanda said. We get a lot of people who are interested in joining our team because they are mission-driven, but I think being kind and hardworking are two of the things we want to keep at the top of the list. And after that, I think a mix of viewpoints keeps things interesting and fresh.
“A founder’s values have to be part of shaping the organization, or it won’t get off the ground in the first place. ”
As UMARO Foods continues to build momentum, what is motivating and energizing about your work?
UMARO™ Bacon
Stiles: Getting to the next step, and the next step, and the next step. We're climbing a mountain, but we keep summiting small peaks with great views.
Zotter: Bacon is just a really fun product. It makes people smile!
UMARO Foods is a Berkeley, CA-based food technology company focused on making ocean-farmed seaweeds the future source of abundant and high-quality protein. The company is introducing its protein to consumers as a premium ingredient in its first product, UMARO™ Bacon. The company’s origins began in the design of offshore seaweed farming systems, and are now focused on delivering branded consumer food products featuring its proprietary UMARO™ red seaweed protein.
Keep an eye out for UMARO launching its plant-based bacon in select restaurants in Q2 of 2022. For more information, visit UMARO Foods and follow @UmaroFoods on Instagram.
UMARO is looking to hire curious and passionate individuals—to see current job openings or to apply, visit the Activate job board.