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Meat the Mushroom Secures $150K Investment for Innovative Shroomacon Vegan Bacon

Baltimore-based startup Meat the Mushroom has made waves by securing a substantial $150,000 investment from renowned "Shark Tank" investors Kevin O’Leary and Lori Greiner. This significant deal, sealed on the popular ABC show last Friday, grants the investors a 33.3% stake in the company, renowned for its clean-label vegan bacon alternative, Shroomacon.

Founded in May 2021 by Marvin Montague Jr. and his wife Aleah Rae, Meat the Mushroom is a testament to Montague Jr.'s personal health journey. Overcoming heart disease and chronic asthma through a transition to a vegan diet, he has channeled his experience into the creation of Shroomacon. Comprising just five ingredients—king oyster mushrooms, olive oil, natural smoke flavor, salt, and black pepper—Shroomacon stands out by offering long strips of mushroom rather than processed and molded ingredients typical of many meat alternatives.

Despite initial skepticism from the Shark Tank panel about the business's future and its initial equity offer, two celebrity investors were won over by Shroomacon, choosing to invest in the company. Post-show, co-founder Aleah Rae revealed to that the company has doubled its team size and scaled up production in anticipation of increased demand.

Meat the Mushroom has also garnered attention on Baltimore’s ABC Channel 2 WMAR News and was showcased at the Winter Fancy Food Show in Las Vegas last week.

However, the vegan bacon market is highly competitive, expected to grow at a CAGR of 6.6% between 2022 and 2032, with key players including Vegetarian Butcher, Lightlife, and MyForest Foods. Notably, Umaro Foods, another top competitor featured on Shark Tank in 2022, secured a $1 million deal from Mark Cuban for its red algae-based bacon.

Currently available at select markets across the United States, including Central Markets in Texas, Green Life Markets in New Jersey, and MOM’s Organic Markets in Pennsylvania, Maryland, and Virginia, Shroomacon can also be purchased directly from the company’s website, where a two-pack is priced at $26.

[Image credits: Meat the Mushroom]


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