The journey of Numilk, a plant-based milk technology company, from a high-stakes pitch on American reality TV to a production powerhouse is a classic tale of entrepreneurial grit meeting opportunity. Their appearance on Shark Tank in March 2021 fundamentally altered their trajectory, securing a landmark deal that fueled massive growth.
Inside The High-Stakes Shark Tank Pitch
On March 24, 2021, founders Ari Tolwin and Joe Savino entered the Tank in Season 12, Episode 18. They sought $1 million for a 5% equity stake, implying a bold $20 million company valuation. Facing sharks Barbara Corcoran, Lori Greiner, Daymond John, Kevin O'Leary, and Mark Cuban, they demonstrated their innovative machine that creates fresh, additive-free plant milk from concentrates.
Mark Cuban, who sampled the freshly made almond milk, was impressed, calling it "incredible" and noting the freshness. However, the sharks probed the valuation deeply. Tolwin revealed that despite raising $12 million from investors, the company had accrued $7 million in losses over three years, primarily from research and development. Sales figures were modest—$400,000 in 2020 against a $2 million loss—painting a picture of a startup in a heavy investment phase.
Breaking Down Mark Cuban's Winning Deal
After three sharks bowed out, Kevin O'Leary offered a $1 million loan at 9.5% interest for 5% equity. Mark Cuban, however, presented a compelling and complex package that ultimately won the day.
Cuban's offer was for $2 million total. It was split into two parts: $1 million for 7% equity, and an additional $1 million as a loan at 3% interest. For the loan portion, Cuban requested an extra 3% in advisory shares. Crucially, if the loan wasn't used, the extra equity wouldn't be granted. This meant the total deal could be $2 million for 10% of the company. The founders accepted, partnering with the billionaire who aligned with their mission.
Numilk's Post-Shark Tank Expansion and Current Status
The Shark Tank effect was immediate and powerful. The company leveraged its fame with successful Kickstarter campaigns, including a "Shark Tank Family Pack" for home machines. Fast forward to January 2026, and Numilk's growth is undeniable.
The company's valuation has soared to approximately $70 million, up from $40 million at the time of the pitch. They have achieved over $55 million in lifetime sales with annual revenue hitting $13 million. Their machines are now in over 500 locations, including cafes, grocery stores, commercial kitchens, and about 10% of Lifetime Fitness gyms as of March 2025. Home countertop models have also found their place in households across the United States.
Product innovation continued with new flavours like Goldenmilk (coconut, turmeric, ginger) and Moonmilk (dragon fruit, chamomile, ashwagandha). Strategic partnerships with companies like Hamilton Beach Brands have further solidified their market position. While they have discontinued in-store kiosks to focus on home and commercial machines, Numilk remains a private and active company, a testament to a Shark Tank deal that truly delivered on its promise.
