Nutr’s valuation updated after Shark Tank appearance

Nutr lets you make healthy, delicious, dairy-free milk from the comfort of your own home. Their machine can make a variety of milk recipes, and all you need to get started is nuts and water. They pitched their company on Shark Tank, but didn’t land a deal. Nutr is now valued at $6 million.

Founder

Dane Turk currently resides in Mount Vernon, Ohio and holds a bachelor’s degree in mechanical engineering from Ohio University. After graduation, Turk worked as a technical services account manager for Ariel Corporation.

However, Alicia Long grew up in China and her family immigrated to the United States. Alicia holds a Bachelor of Business Administration from Ohio State University and in 2015, she took a job as a senior technical recruiter at Tech Start Up in San Francisco. Over the next five years, she held the same position at Amazon and Google.

Founding Nutrition

Growing up, Alicia was lactose intolerant, and as a child she would watch her mom make nut milks and make a mess. When she became pregnant with her first child, Alicia wanted to live a more sustainable lifestyle.

After researching, Alicia and her husband were shocked to see how many preservatives were added to bottled nut milks in stores. This inspired them to develop an appliance that could make plant-based milk without additives.

The Nutr machine went on sale to the public in 2020. The following year, sales soared to more than $2.7 million. This helped the startup raise more than $241,000 through a WeFunder crowdfunding campaign.

Appeared on Shark Tank

In 2022, the startup built a larger version of the machine and launched another funding campaign. This time, they raised more than $66,500 on IndieGoGo.

Their environmentally friendly technology is still patent pending. Despite this, the founders are still looking for ways to raise more money and expand the business. Participating on Shark Tank gave the company a huge boost, but a $10 million valuation is crazy!

After Shark Tank

The episode aired on January 20, 2023, and after the show aired, Nutr’s sales increased by $200,000 in January. Considering the product costs $169, this is a surprising number. The founders believe that it can save you money in the long run.

If you want to buy a Nutr machine, you can buy it at Williams-Sonoma, Nordstrom, Best Buy, Amazon, and their website TheNutr.com. The company also sells its signature mug and drinking cup for $50. From browsing Nutr’s website, it’s clear that they understand how to sell online and their branding is excellent.

Their plant milk machine has 259 reviews on their website with an average rating of 4.3 stars. Nutr may close a $1.5 million seed round and expects sales to reach $25 million in 2023! Similar companies have appeared on Shark Tank in the past, such as NuMilk, which has struggled to turn a profit but is now valued at $55 million.

Categories: Shark Tank
Source: dut.edu.vn