"I'm gonna give you $2 million" - When Shark Tank's Mark Cuban invested in Numilk

Shark Tank season 12 featured a pitch from Numilk entrepreneurs Ari Tolwin and Joe Savino hailing from New York. They instantly shocked the sharks, with their ask of $1 million in exchange for 5% of their business.

They specialize in plant-based milk production with their dispensing machines. Both the entrepreneurs have a background in the beverage industry and their goal was to provide plant-based milk with minimal processing.

On Shark Tank, they presented an innovative dispensing machine through which shoppers can access the milk "with the push of a button." They expressed that their goal was to promote plant-based lifestyles to the world.

They then asked Shark Tank investor Mark to make his milk through the machine because he is a vegan. The technology can produce fresh milk from almonds right there on the spot when someone requests it. Mark was impressed by it all and during the negotiations, making an offer, said,

"Okay, guys here's my offer. I'm gonna give you $2 million, you only asked for 1, so I'm gonna give you $2 million. One million of that is going to be for seven percent equity."

He continued,

"The other million is going to be a loan at three percent interest but I get an additional three percent of stock as advisory shares or straight-up equity. But, if you don't use the loan, you don't have to give me the three percent equity for that loan. So in total, if you use all the capital, it's two million dollars, for ten percent."

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Shark Tank entrepreneurs Ari and Joe pitch Numilk

Numilk is a food technology company that focuses on delivering fresh plant-based milk through its dispensing machine. This technology is created by entrepreneurs who can pump out the desired milk choice of the customer in seconds. After hearing Mark's offer on Shark Tank, Joe and Ari decided to make a deal.

Since then, the company has expanded into other technological products for plant-based diets, such as a home countertop version of the huge dispensing machine. This helped the consumers produce their milk at home.

They have expanded their business all across America and even partnered with Hamilton Beach. They help them produce the home machines. The company continues to grow right now but that does not mean they did not have initial setbacks even after Shark Tank. Revealing about the same, Numilk's website wrote,

"Numilk faced considerable setbacks in 2020 when the company's "Shark Tank" episode was filmed, due to the Coronavirus pandemic. As they told the sharks, that resulted in delayed launches with Kroger, Gelson's Markets, and other retailers. Even so, the brand has kept defying all odds."

Overcoming the pandemic's effect, Numilk has also launched various flavors for its plant-based milk. These are called Goldenmilk featuring coconut, maple, turmeric, and ginger as well as Moonmilk which contains maple, dragon fruit, chamomile, and ashwagandha.

With the rising demand for matcha in the beverage market, the company had even launched the flavor. Their latest update was in 2024 when they had expanded into more than 100 locations across the country.

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Shark Tank season 16 episodes drop out every week on ABC at 8 PM Eastern Time on Fridays. Later, they can be streamed via Hulu.