Numilk’s CEO and founder is Joseph Savino (Joseph C. Savino). Ari Tolwin is a co-founder. He co-founds the company with Ari Tolwin and Lennie Friedman. They had no investment to take the next step when the company first started. They are linked to another company called Stray Dog Capital. Stray Gog Capital is a reliable company. It can provide startup business loans to help the company grow. The company is headquartered in Leawood, Kansas, in the United States. NuMilk undisclosed the amount and amount funded by one round on February 27, 2020, with the assistance of this company.

What is Numilk?

Numilk is a company that produces a distinct style of milk packaging. All of the steps are bacteria-free and environmentally friendly. Numilk is a machine that can produce fresh and prepared milk right before your eyes. Users can fill bottles themselves a few seconds after using them and recycle or dispose of them. Numilk’s net worth is $55 million per year in revenue.

The company’s vision is to provide customers with pre-packaged plant-based milk. Plant-based milk has become popular in recent years. Almond is the most common source. As a result, Numilk can assist you in producing fresh almond milk from simple ingredients.

Founder of Numilk

Numilk’s founders are Joseph Savino and Ari Tolwin, and the company was founded in 2017. Growing up, they were fascinated by entrepreneurship. Ari holds an MBA from Duke University, while Joe holds a BBA from the Lubin School of Business. Both are friends who want to start a new business but don’t know where to begin. Finally, they meet with their friend Lennie Friedman and describe it to him, and he discovers the same link.

They have extensive experience in the beverage industry. Tolwin co-founded Happy Tree Maple Water and was appointed CEO in 2013. The following year, Savino co-founded the beverage contract packer Harvest Beverage Group. Both have decided to leave their respective companies. They then collaborated to launch a new company aimed at producing plant-based milk.

They use most of their family savings and loans to start the business. The first machine in Paramus was installed at NJ Whole Foods in 2018. The company has risen to prominence, and customers are pleased with the product. Lennie Friedman later joined this company. He plays an important role in this company. Lennie is the CFO and Vice President of Engineering. He is in charge of the product line’s quality and accuracy. Customers must take a bottle, pour it into the tap and select between sweet and unsweetened options. Their beverage will be ready in under a minute.

Shark Tank

The company expanded, but the founder required more capital to build the NuMilk machine from the extensive inventory. They decided to raise outside investment, and the product could reach an industrial scale. Tolwin and Savino were having difficulty getting their business off the ground. As a result, they intended to seek assistance from wealthy investors on Shark Tank. They made their pitch in 2021, offering 5% equity for $1 million. For some sharks, valuing their business at $20 million was prohibitively expensive.

Aside from their one-of-a-kind plan, which was the size of two refrigerators. They also unveiled Numilk Home, a new and convenient form priced at $199. The most wealthy Shark, Mark Cuban, who is also a vegetarian, saw great potential in this. In this manner, Cuban negotiated a $2 million deal and recommended that $1 million be paid in cash for a 7% return. Joe and Ari happily agreed to the other part of the agreement, which is credit with 3% interest.

Joe (Joseph Savino) and Ari appeared in season 12 and episode 18 of ABC Shark Tank America. The couple asked for $1 million in exchange for a 5% stake in the company. Throughout the conversation, the shark can taste the Almond Milk and OAT Milk.

Mark Cuban is interested in their offer and has offered $1 million for a 7% stake in NuMilk, as well as the option of $1 million in loans at 3% interest for a 3% stake. They are perplexed at the time, and it is difficult to choose which one offers. The $2 million was eventually chosen by billionaire Mark Cuban.

Numilk Net Worth

Numilk’s net worth is expected to be $55 million in 2023. Numilk generates $8.4 million in revenue each year.