What Happened to AltCo After Shark Tank India?
What is AltCo?
AltCo is a plant-based dairy & protein company. Plant-based milk is healthy and sustainable. AltCo makes healthy & tasty milk for its consumers.
AltCo doesn’t use any gums & emulsifiers to make these products. One can make different products also, using this milk.
We all know milk is good for us. But what about those people who are lactose intolerant? More than 70% of Indians are lactose intolerant, and they don’t even know about this.
Some of the popular AltCo milk products are,
- Almond milk
- Oat milk
- Soy milk
- Alt milk
Some of the popular AltCo protein-based products are,
- Ready-to-drink beverages
- Protein bars
- Energy bars
- Protein powder
Btw, Anupam Mittal was very happy seeing this pitch as he’s lactose intolerant himself. The market size of plant-based dairy & protein is ₹1000 Crores. Oatly is the biggest competitor when it comes to the international market.
Who is the Founder of AltCo?
Rithwik Ramesh & Basan Patil are the founders of AltCo.
AltCo Before Shark Tank India?
Previously the founders were distributors of a big company. After a while that big company stopped their operation and they developed their own oat milk from scratch in 3 months.
AltCo is based in Bangalore. The milk is manufactured outside Pune. The packaging is done in a separate factory.
How much money did they ask for AltCo?
They came to Shark Tank India seeking ₹1.5 Crore for 2% equity in the company AltCo. Which gives the company a valuation of ₹75 Crores.
How much money did they raise for AltCo?
The founders invested ₹4 Crores of their own money. Later they raised ₹14.8 crores from outside investors for AltCo.
They have ₹2.5 Crores left in the bank and ₹3 Crores worth of stocks & receivables.
| Time | Money Raised | Valuation |
| June 2022 | ₹8.8 Crores | ₹35 Crores |
| June 2023 | ₹6 Crores | ₹100 Crores CAP |
How to get AltCo products?
You can easily get all the AltCo products from their website. They are also available in different retail stores.
Price of AltCo Products
| Product | Price |
| Oat milk | ₹259 |
| Almond milk | ₹259 |
| Alt milk | ₹279 |
Unit Economics of AltCo
| MRP | ₹299 |
| Retailer margin | ₹90 |
| Distributor margin | ₹30 |
| GST | ₹30 |
| COGS | ₹80 |
| Salary | ₹40 |
| Marketing | ₹35 |
| Others | ₹20 |
Their monthly burn is ₹45 Lakhs. Their yearly burn is ₹5 Crores.
What are the Monthly Sales of AltCo?
| Month | Sales |
| November 2023 | ₹1.1 Crore |
What are the Annual Sales of AltCo?
| Fiscal Year | Annual Sales |
| 2022 – 2023 | ₹1.5 Crore |
| 2023 – 2024 | ₹6 Crores to date |
| 2023 – 2024 | ₹10 Crores Projected |
Which shark gave AltCo an offer?
Radhika Gupta was out. She wasn’t happy with the ingredients they were using.
Peyush Bansal was out. He advised them to get a strategic investor on board. Because the business would require higher capital to run profitable.
Aman Gupta was out. He thought the product was too early for Indian consumers.
Anupam Mittal was out.
Ronnie Screwvala was out. He wasn’t convinced of their vision of the company fully.
What deal did AltCo get in Shark Tank India?
Even though all the sharks really liked the products, none of them agreed to invest their money. AltCo didn’t get any deal in Shark Tank India.
| Company Name | AltCo |
| Founders | Rithwik Ramesh & Basan Patil |
| Asked Amount | ₹1.5 Crore for 2% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹75 Crores |
| Company Website | alt.company |
| Company Status | In Business |
What is the net worth of AltCo?
The net worth of AltCo is ₹75 Crores.
Is AltCo still in Business?
Yes, AltCo is still in the alternative dairy milk industry.
