Shark Tank provides aspiring entrepreneurs and businesspersons a platform to display their products or concepts and upgrade their small-scale businesses into something world-famous. This award-winning show features entrepreneurs who represent their products or ideas to industry leaders, lovingly called Sharks.

Then the Sharks decide by using their experience which business would be profitable for them to invest in. The ensuing negotiations between the Sharks and the entrepreneurs are exciting to watch.

Expecting for elevation, one such product featured on Shark Tank season 12 is NuMilk, which provides an exciting alternative to pre-packaged vegan milk.

There are a lot of health crazes. But, one that seemed to stick? Almond-based beverages, particularly milk. That is where NuMilk comes in. It is a “DIY” almond milk-making machine. The convenience and easy use are only the most important reasons why it has gained so much popularity. If you want to learn more, keep reading this article.

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What is NuMilk?

NuMilk is a company that creates a specific kind of milk packaging. Every step is carried out in a bacterium-free and environmentally responsible way. The Numilk machine can make fresh, ready-to-drink milk.

After each use, customers may quickly and smoothly re-fill and reuse or dispose of their empty bottles. Numilk gains annual sales of $55 million, which amounts to a net value of $55 million.

Using only some basic elements, Numilk makes it easy to make your fresh almond milk.

NuMilk is the brainchild of Ari Tolwin and Joe Savino. They presented their product and secured funding for the Shark Tank show.

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A Few Details Of NuMilk

• Joe Savino and Ari Tolwin are the persons behind the foundation of NuMilk. The two knew the beverage industry very well. Joe co-founded Harvest Beverage Group; Ari co-founded Happy Tree Maple Water.

• Their product is the machine that creates the beverage on demand. What makes it unique is that there are no artificial elements or additional additives. Just 2 (or 3) things: almonds, purified water, and, if you want it sweet: maple syrup.

• All you need to do is to place a bottle underneath the spout, and select “unsweetened” or “sweetened.” The machine makes almond milk for you at only $3.99.

• Now, they operate in New England and New York Whole Foods Markets. Interestingly enough, Whole Foods wants to take NuMilk to the next level. The idea is to expand to include macadamia, oats, and other alternatives.

• The company is going to launch shakes, as well as a commercial machine very soon. Essentially, people could have access to their own NuMilk machine.

What Do NuMilk Do?

NuMilk is an outstanding alternative to pre-packaged plant-based milk. It offers customers an option to make fresh almond milk at select stores before buying it.

Joe Savino and Ari Tolwin developed this idea of making fresh almond milk and providing consumers with the option not to pick other pre-packaged plant-based milk degraded with preservatives. However, Joe was the one who developed the NuMilk machine.

Both Joe and Ari are veterans of the beverage industry.  Ari co-founded Happy Tree Maple Water in 2013, where he served as a CEO for almost four and a half years. Joe co-founded the Harvest Beverage Group, where he worked for more than five years.

The idea was developed out of the necessity for tasty, healthy, and pure dairy-free milk. As per Joe and Ari, there was a requirement to get rid of additives, like gums and emulsifiers, utilized in numerous traditional brands. Moreover, they also wanted their products to be plain, natural, and organic.

The duo demanded that with the NuMilk process, they were also able to reduce a lot of supply chain food trash. They put up machines in select locations and stores so that customers can get freshly made organic almond milk.

The machines are equipped with water filters and contain built-in cleaning systems. Also, each machine is remotely connected to the internet and can be tailored to the needs of the consumers of that particular place. As soon as you press a button, the machine will start producing pure almond milk without any preservatives or additives.

The only elements required are almonds and purified water. Consumers can also add maple syrup as per their choice in case they want it sweetened. The shelves near the machine are stored with empty bottles that the consumer has to get and hold near the spigot to obtain a bottle of fresh almond milk which costs $3.99.

Currently the flavours provided by NuMilk are their original almond milk along with chocolate and barista oat milk.

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Who Is The Person Behind The Foundation of Numilk?

The American duo of Ari Tolwin and Joe Savino both hail from New York. They had a childhood fascination for entrepreneurship. Both Ari and Joe attended the Lubin School of Business to gain their Bachelor of BBA.

They both have strong backgrounds in the beverage business. Tolwin developed the tree water company Happy Tree Maple Water in 2013 and now serves the role of the CEO of the firm. Savino began the beverage contract packing company Harvest Beverage Group in the same year.

After nearly five years, though, both of them decided to stop their respective businesses. That is why they collaborated to begin a company to make soy or almond milk.

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How Was NuMilk Established?

Joe was the one who came up with the concept for a Numilk machine. Practically, the device could make on-demand fresh almond milk. It only requires two elements: almonds and purified water. If you want to have a sweeter cup, you may add maple syrup.

Customers are just required to grab a bottle, insert it into the faucet, and choose between sweetened and unsweetened options. In less than a minute, their drink will be prepared. The retail price of the NuMilk machine is $299.

The startup was introduced in 2018 and managed to raise $12 million from investors to build out the idea. They spent $2 million but were only able to generate $40,000 in revenue.

The following year, they generated  $320,000 but lost $3 million. In 2020, the business generated $400,000 but suffered a loss of $2 million.

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What Happened To NuMilk On Shark Tank?

Tolwin and Savino were striving to scale their business off the ground. So, to get help from wealthy investors on Shark Tank, they made their pitch in 2021.

They asked for an investment of $1 million in exchange for a 5% stake in their business. They valued their business at $20 million. The sharks thought that the valuation was quite expensive.

 Besides their original design, which was identical to the size of two fridges, they also launched the new and portable version, Numilk Home and the price of a NuMilk Home machine is $199. The richest Shark, Mark Cuban, who is also a vegetarian, saw great potential in this.

Cuban was ready to invest $2 million and proposed that $1 million would be cash in exchange for a 7% stake in the business. He had also added that he would give the other $1 million as a loan for which the founders have to give 3% interest. Joe and Ari ultimately accepted the deal happily.

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Numilk Shark Tank Update

Numilk’s almond milk is famous for being very pure and tasty. Approximately the size of two refrigerators, the first machine was enormous.

Both sweetened, and unsweetened choices are available to consumers. You may purchase Almond milk, the shop’s speciality, by spending only  $3.99.

Moreover, each machine contributes around $50,000. Nevertheless, the production costs are only $30,000. The probable profit is much higher, at $150,000.

Whole Foods Markets in the New England and New York City areas accepted it after their appearance on the show. They want to improve their offerings by adding non-dairy types of milk like oats and Macadamia.

Profit from one machine was constant even if their annual revenue fluctuated. Because of this, it grabbed the attention of a few sharks.

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What Occurred To Numilk After Shark Tank?

After appearing on Shark Tank, Numilk started to talk with Whole Foods.

At the same time, they began a Kickstarter campaign, which finally enabled them to collect nearly $222,000 from 888 supporters.

Now, nearly 111 shops in the United States stock their machines. You may also pre-order the $249 home version of their product on their website. They would also like to develop their collaborations with local markets and cafes.

Numilk has not made the desired development and has had troubles with its supply chain. There seems to be a worried crowd of refund-seeking customers on Kickstarter.

Numilk disclosed in September 2022 that Hamilton Beach would manufacture the Home and Pro machines. Although the company has not made the 2022 sales statistics public, it is safe to conclude that Numilk is still losing money at its current $50 million worth. They should not have spent all of Mark Cuban’s capital.

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How Is NuMilk Doing?

NuMilk was established in 2017. It has prospered by leaps and bounds in the following years. After its inception, NuMilk machines were found at the New Jersey Whole Foods market with a commitment from the firm to roll out more machines all over the country in 2019.

The internal data of the company disclosed that its machines had already seized up to 30% of in-store market shares from its other packaged non-dairy milk opponents.

The company also brought in top talent from the beverage and tech industries and raised roughly $10 million in financing from investors.

Now, you may find NuMilk machines in New Pioneer Food Co-op in Cedar Rapids, Iowa, New World Café in Raleigh, North Carolina, and Whole Foods markets in New York.

It is also available in different brick-and-mortar grocery stores, mainly based out of New York City. It has also launched new flavours like Matcha Oat Lattes.

The company is planning to extend its footprint all over the United States and service more locations, focusing on improving its offerings from milk to plant-based shakes and lattes to draw a broader customer base.

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Is Numilk Still Active In Business?

Numilk may prosper in the coming years. This company may go into cafés and supermarkets with an incredible marketing endeavour.

The business wants to launch its products insupermarkets all over America soon. Joe Savino and Ari Tolwin, the company’s original proprietors, are still active, and Mark is likely still working there as well.

They have accomplished an outstanding job marketing their firm, even though their product is not sold on Amazon.

Gradually but certainly, their website is developing. So, as of December 2023, Numilk is still active in business.

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Who Are The Competitors Of Numilk?

There are not many up-and-coming businesses that offer similar items like Numilk. Among these companies are Califia Farms, Vancouver, and Coconuts Collaborative.

Numilk has not made the desired growth and has had difficulties with its supply chain. There appears to be an anxious crowd of refund-seeking customers on Kickstarter.

The Home and Pro machines will be manufactured by Hamilton Beach, as revealed by Numilk in September 2022.

Although 2022 sales statistics have not been made public, it is safe to conclude that Numilk is still losing money at its existing $50 million worth. They should

 Not have spent all of Mark Cuban’s cash.

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How Much Is Numilk Worth?

In 2018 one of the devices of the company managed to bring $40000 in revenue within a year but it cost $2 million to develop. With a budget of $3 million, they were able to turn a profit of $320,000 on 10 machines in 2019.

NuMilk Net Worth 2021

In 2021, NuMilk had an approximate net worth of $20 million.

NuMilk Net Worth 2022

In 2022, the approximate net worth of NuMilk was $55 million.

NuMilk Net Worth 2023

As of 2023, NuMilk has an approximate net worth of $55 million.

What Are The Pros Of NuMilk?

There are a lot of pros to the milk you obtain from NuMilk Machines. Here are some of them:

• The machine is easy to use.
• The milk is wonderful in terms of taste and texture.
• The milk is free of additives.
• It is also affordable.

What Are The Cons Of NuMilk?

The only cons of NuMilk is given below: 

• The machine is not completely easy to clean, particularly in grocery stores.

Final Opinion

NuMilk is indeed a revolutionary product in terms of innovation for anyone who wants to have dairy-free milk. The proprietors want to continue developing the business and adding more options of fresh milk to their machines. The machines are easy to use, and the milk itself is very tasty and made of minimal elements. We can likely expect great things from NuMilk in the future as well.

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