Numilk Net Worth 2024: The Vegan Milk Company That Soared To Prominence!
Curious to know Numilk’s worth? Numilk is composed to capitalize on the flourishing vegan milk market, which is projected to reach an astonishing $42.86 billion by 2029. It’s no wonder that many are curious about the company’s net worth, as it enters this potentially profitable space.
Numilk, the company behind plant-based milk makers and milk pouches, rose to fame after appearing on CNBC’s popular show, Shark Tank. The company secured one of the most generous vegan deals on the show, pushing its market performance to new heights.
As of May 2024, Numilk’s Net worth is $55 million. The strategy of this article is to provide you with an overview of Numilk Net Worth and its Net Worth after Shark Tank.
Numilk Early Stages Of The Business
Joe Savino and Ari Tolwin, originally from New York and experienced business professionals, founded Numilk in 2018. Their mission is to promote sustainability and reduce waste.

The co-owners of the plant-based milk company manipulated their combined education and professional experience to drive the company’s success.
Savino’s creation, Numilk, was born out of a desire for a trouble-free way to produce fresh almond milk. The milk itself is simply a blend of almonds and purified water, with the option to add maple syrup for added sweetness.
About Joe Savino
Numilk’s CPO, Savino, holds a Bachelor’s degree in Business Administration from the Lubin School of Business. Following his graduation, Savino gained valuable experience as an Operations Manager at 121 Inflight Catering from 2010 to 2015. In 2013, he co-founded Harvest Beverage Group, a beverage contract packer, where he worked until 2018.
About Ari Tolwin
Ari Tolwin’s entrepreneurial spirit sprouted early. Raised in a yeshivah family in Southfield, New York, he launched his first mini-business at age 12, selling CDs to classmates for a profit. The now-CEO of Numilk went on to Duke University, where he earned a Master’s degree in Business.
In 2013, he co-founded Happy Tree Maple Water, a beverage company mastering maple syrup water production. Five years later, Tolwin closed the company to pursue the vegan milk substitute industry with his friend, Savino. Their expertise in selling beverage products and entrepreneurial drive fueled the creation of Numilk, a new venture born from their combined forces.
Sold Products
Numilk operates a dual B2B and B2C business model. Their B2B model focuses on supplying grocery stores, food vendors, and cafes. Numilk’s commercial platform offers a plant-based milk maker that enables customers to refill their bottles. These machines are roughly the size of two refrigerators.

Their In-home platform provides buyers with a compact version of their signature machine, allowing them to enjoy a variety of milk options. Without this machine, Numilk offers a wide selection of milk pouches, including almond, cashew, pistachio, and oat milk.
Their pouches offer a range of options, including sweetened and unsweetened varieties for some flavors. They also feature latte, protein, and mocha versions, including their unique mushroom mocha flavor.
The company takes pride in its dedication to using no preservatives, gums, processed sweeteners, or fillers. This dedication allows them to offer fresh and healthy food ingredients in their production process.
Some Benefits Of Numilk
This dairy-free substitute provides a vitamin-packed beverage filled with healthy fats and minerals. It’s a perfect choice for those seeking to manage their weight, as it’s low in calories and gives a protein-rich nutritional profile.
Their vegan milk substitute is a powerhouse of nutrients, delivering a healthy dose of calcium, potassium, magnesium, vitamin E, and vitamin D. It’s not just for health-conscious consumers, though.
This is also perfect for those seeking to improve their gut health thanks to its fiber content, which promotes digestive well-being. This products offers a delicious and fresh taste, made possible by its innovative machine and convenient pouches.
Numilk Net worth 2024
Numilk, a company that specializes in vending machines for vegan milk substitutes, Its net worth is $55 million as of May 2024. The brand is assured for future success, capitalizing on the rapidly growing vegan market and the growing demand for plant-based milk options.
The company launched with a $12 million investment from venture capitalists. The co-owners contributed $2 million, which generated a modest $40,000 return. In 2019, despite generating $320,000 in revenue, the company incurred a significant $3 million loss. The subsequent year presented similar financial challenges.
The pandemic had a significant impact on the company, resulting in a $2 million loss and a mere $400,000 profit. It’s overall losses exceeded $7 million, offsetting a $760,000 profit.
The Shark Tank Venture
Prior to appearing on Shark Tank, It’s founders valued their company at over $20 million. They sought investment to expand their existing machine inventory and to support their new at-home machine product. The founders requested $1 million in funding in exchange for 5% equity in the company.

The episode’s rich investors, including Lori, Daymond, and Barbara, were confused and withdrew from the deal. Kevin and Mark Cuban, a vegetarian, saw an opportunity.
The founders explained that their machine cost $300 to produce and sold for $699. Recognizing the potential, Kevin offered a $1 million loan with a 9.5% interest rate over three years.
Cuban offered a $1 million investment with 2% equity. The sharks also presented a counteroffer: a $1 million loan with a 3% interest rate, in exchange for 3% equity or advisory shares. Numilk accepted the shark’s offer, securing a total of $2 million in funding.
Numilk Net worth After Shark Tank
While the Shark Tank episode presented a picture of success for this buiseness, the reality behind the scenes was far less promising. Despite securing a deal with Whole Foods, the following events led to a precipitous decline in the plant-based milk company’s fortunes.
Even approaching a multi-chain grocery store for a deal, the founders of Numilk turned to Kickstarter, successfully raising $222,000 from over 888 backers. With the crowdfunding campaign, its products were available in 65 stores and also targeted coffee shops. Supply chain issues led to dissatisfied Kickstarter backers requesting refunds.
Though initially facing financial struggles, the company secured a significant manufacturing partnership with Hamilton Beach in 2022. This collaboration focused on producing two new machines: the Numilk Pro and Numilk Home.
As a result, the company gradually evolutionized away from its kiosk machine service to concentrate on the distribution of these new products.
Numilk Pro
Numilk Pro, a compact version of its kiosk machine, is marketed to a diverse range of vendors, from upscale cafes to restaurants. The company’s website highlights the use of their machines by notable establishments like Cartel Roasting Co. and Birch Coffee.
Numilk Home
The Kickstarter funds raised for this project were primarily allocated by the founders. While the machine is not yet commercially available, consumers can choose to be placed on a waitlist. Numilk anticipates the product will be available by the end of this year or early 2025.

Comparison: Joe Savino And Ari Tolwin Net worth Vs Other Entrepreneurs Net worth
- CropSticks was started on 14th March 2016 as an eco-friendly bamboo chopsticks company. Now the company has net worth of $2 million.
- Kevin Rudeen was born on October 29, 1980, in Los Angeles, California. He is an entreprebeur with a worth of $5 million.
- Adeel Shams is a rising figure in his field, he was born on February 5, 1990, in Karachi, Pakistan. He has a worth of $7 milllion.
- Marquett Davon Burton was born on 26th April 1992 in San Diego, California, USA. He is an American entrepreneur and has worth of $10 million.
- Daisy Cabral was born on February 14, 1995, in Los Angeles, California. She is an American entrepreneur with a worth of $5 million.
Conclusion
Numilk has experienced a rollercoaster ride since its creation, facing challenges and successes. Despite initial financial struggles and setbacks in securing major retail partnerships, the company has secured a significant investment from Shark Tank. It continues to innovate with its plant-based milk-maker technology.
The future of Numilk looks promising, with its focus on fresh, healthy, and sustainable milk substitutes catering to a growing vegan market.
The company’s commitment to expanding its product offerings and its potential for widespread adoption suggest that Numilk is well-positioned for future success.
FAQs
Is Numilk A Successful Brand?
Numilk’s performance was struggling before its appearance on Shark Tank, primarily due to its machine inventory. Despite the company’s history of losses, Cuban still presented the founders with an irresistible offer.