A machine that produces fresh vegan milk is called NuMilk. All kinds of vegan fresh milk or beverages with various additives are produced with this machine. Co-founders Joe Savino and Ari Tolwin introduced NuMilk on Shark Tank Season 12 Episode 18, requesting $1 million for 5% equity.
What Is NuMilk?
A device called NuMilk is created with plant-based milk nutrition elements.
This gadget can produce almond milk from just three ingredients: almonds, purified water, and maple syrup. This machine is currently available in two sizes, Numilk Home and Numilk Pro, and weighs 15 lbs. and 30 lbs., respectively. Recently, they introduced the 32oz. NUMILKS Pouch. Through the use of these pouches, several milk and shake varieties can be created.
As these pouches are included in the package, there is no need to add any dry ingredients to this machine.
It has a variety of ingredients, including Matcha Latte, Black Sesame, Chocolate Oat, Cashew Unsweetened, Golden Milk, Moonmilk, and many more. It’s also quite simple to clean this machine. The bag chamber can be cleaned with just a fresh cloth. It is quite simple to operate; all you need to do is take a bottle, fill it with 28 ounces of water, and set it in the machine’s base.
There is no need to take water in the bottle if this machine is linked to the water line. All you need to do is pick out your preferred Numilk bag and set it on the machine’s top. Press the start button after that, and your fresh milk will be ready.
Numilk pouches are available for $3.20 to $4.80. Both Numilk Home and Numilk Pro cost $249 and $699, respectively.
Founder Of NuMilk
The co-founder and inventor of NuMilk Company is Joseph C. Savino. Yet another co-founder is Ari Tolwin.
At the Lubin School of Business at Pace University, Joseph pursued a BBA in finance. He served as 121 Inflight Catering’s operations manager for four years. was a Harvest Beverages Group co-founder for five years. Entrepreneur Ari Tolwin served as co-founder and CEO of Happy Tree Maple Water for five years.
Numilk Before Shark Tank
Together, Joseph and Ari established a company that produces milk using plant-based ingredients. This business was established in June of 2018 and, according to LinkedIn, its initial sales weren’t great. It was merely a very large machine that produced oat and almond milk. This equipment is the size of two refrigerators combined. The places that most require this machine include supermarkets, coffee shops, etc. because a lot of people visit there to buy milk.
The 2020 PepsiCo North America Greenhouse Program has chosen Numilk. The new Nut Butter Station at Whole Foods is where this equipment was initially installed. They were offering a $3.99 bottle of fresh almond milk for sale in this. Large refrigerators the size of Plant Base Milk Made Machine are being used in several American supermarket stores.
NuMilk In Shark Tank
Shark Tank was visited by Joseph and Ari, who requested $1,000,000 in exchange for 5% of the business. They provided Shark with full details regarding the history of his company and its ground-breaking product. Michael provided a live demonstration of almond and oat milk throughout his pitch.
A bottle costs $2, and it costs $3.99 to refill it. Some grocery stores currently have this milking machine installed. They enjoyed watching Shark Tank and have so far raised $12 million at a $40 million valuation. In 2018, one of their devices brought in $40,000 in revenue within a year, although it cost $2 million in R&D They spent $3 million to achieve $320,000 in sales from their 10 machines in 2019. Also, read about Jim Parsons Net Worth
Despite having a $6 million track record in 2020, the grocery chains were shut down because of the Covid-19 pandemic. He made sales of $400,000 at that time, and his bank now has $3 million accessible. All three of Barbara, Daymond, and Lori declined this business offer.
For this company, Kevin offered a $1 million loan with a 9.5% interest rate over three years in exchange for 5% equity. Mark offered $1 million for a 7% ownership in this company along with an optional $1 million loan at 3% interest for a 3% stake in advisory shares. Mark was requested to negotiate by Joe and Ari, but Mark declined. Joe & Ari accepted this proposal. Mark and the transaction were finished.
NuMilk After Shark Tank Deal
In order to secure a deal for NuMilk, Mark Cuban contributed $2 million.
The concept of an instant almond milk maker is creative and might be well-received by the public. Although similar items already exist, this kind of concept has been used previously. You may buy a lot of NuMilk substitutes on Amazon.com. ChefWave Milk, a well-known brand that makes an alternative, is selling well on Amazon. Also, read about Michael J Fox Net Worth
Amazon won’t stock the same NuMilk until August 2022. Only the company’s official website has access to it. The company introduced two new machines, NUMILK Home & NUMILK Pro, after Shark Tank. Next, they introduced the multi-ingredient Numilks Pouch. Several media outlets, including CNBC, Veg News, and Well + Good, featured this product. In the United States, more than 65 grocery retail locations now carry its huge milk-making machine.
In 2022, the goods will only be shipped to the US, Puerto Rico, and Canada; but, in the following few years, Asia will also be included.
NuMilk Net Worth
The Net Worth of NuMilk Company is estimated to be around $10 Million currently. This is the market size of the industry of billion dollar valuation. Competition is very high in this industry.