NewMilk is a pioneering company known for producing eco-friendly milk packaging and machines that prepare and dispense fresh plant-based milk in seconds. The innovative process is bacteria-free, allowing users to fill their bottles fresh before recycling or disposing of the packaging. NewMilk’s technology and business model have attracted significant attention, making the company a notable player in the sustainable food and beverage industry. With reported annual revenue of $70 million as of 2025, NewMilk has become a leading name in plant-based milk alternatives.
Founder of NewMilk Shark Tank
NewMilk was founded in 2017 by Joseph Savino and Ari Tolvin, two entrepreneurs with strong business backgrounds and a passion for innovation. Joseph Savino holds a BBA from the Lubin School of Business, while Ari Tolvin earned an MBA from Duke University. Both founders share a deep commitment to entrepreneurship, which they have pursued since childhood. They were inspired by the growing demand for plant-based alternatives and wanted to develop a product that would provide fresh, healthy, and sustainable milk options.
The founders teamed up with Lenny Friedman, a trusted friend and industry expert, to help realize their vision. Before starting NewMilk, Ari Tolvin and Joseph Savino had already made successful strides in the beverage industry with companies like Happy Tree Maple Water and Harvest Beverage Group. Their combined experience and expertise helped NewMilk develop quickly and gain a competitive edge in the market.
What Is NewMilk?
NewMilk is a machine-based system that creates fresh plant-based milk, especially almond milk, in a quick, easy, and sustainable way. The product uses only simple, natural ingredients such as almonds, purified water, and maple syrup. The machine dispenses fresh milk in seconds, avoiding preservatives and packaging waste common with traditional milk cartons.
NewMilk offers both commercial and home-use machines, including the smaller “NuMilk Pro” for businesses and a home version for consumers. This innovative technology provides a fresh alternative to pre-packaged plant-based milk that often contains preservatives and excess packaging.
NewMilk Shark Tank Investment and Growth
In 2020, NewMilk appeared on the popular TV show Shark Tank, where the founders sought $1 million for a 5% stake in their company. Mark Cuban, a billionaire investor and Shark Tank judge, saw potential in NewMilk and invested $2 million in total: $1 million in equity and $1 million in debt, for a 10% ownership stake. This investment significantly boosted NewMilk’s growth and helped the company improve its product and expand its market reach.
Despite a temporary sales slump during the COVID-19 pandemic, NewMilk rebounded quickly. With Cuban’s support, the company launched advanced and compact machines that could be used in homes and small businesses, expanding its customer base significantly. Today, NewMilk machines are installed in over 150 locations across the United States, serving thousands of customers daily.
NewMilk Net Worth and Financial Overview
NewMilk has shown impressive financial growth since its inception. As of 2025, the company’s estimated net worth is around $70 million, reflecting steady revenue growth and market expansion. NewMilk generates approximately $18 million in annual sales revenue and reports profits of about $5 million. The company employs 35 people, all contributing to its innovative product development and business operations.
NewMilk Shark Tank Net Worth
| Year | Net Worth (in million USD) |
|---|---|
| 2019 | 23 |
| 2020 | 30 |
| 2021 | 27 |
| 2022 | 50 |
| 2023 | 70 |
This steady growth highlights NewMilk’s rising influence in the plant-based milk industry and its potential for continued success.
NewMilk Business Model and Products
NewMilk focuses on producing fresh plant-based milks with a simple ingredient list, targeting health-conscious consumers who want sustainable and preservative-free options. Their machines are designed for easy use in both commercial and home settings, offering a unique alternative to the growing plant-based milk market.
The company’s flagship product is almond milk made using the NuMilk machine, which combines almonds, purified water, and a natural sweetener like maple syrup. The milk is freshly made on-demand, ensuring freshness and quality.
Social Media and Marketing
NewMilk actively engages its audience on platforms like Instagram, Twitter, and Facebook. They use social media to showcase their product’s benefits, share customer testimonials, and promote eco-friendly living. The company also collaborates with influencers and celebrities to boost brand visibility and reach younger, environmentally-conscious consumers.
Founder Backgrounds
Joseph Savino and Ari Tolvin bring valuable experience to NewMilk, combining their expertise in business, entrepreneurship, and the beverage industry. Their previous ventures in the beverage sector have prepared them well for leading NewMilk through its growth stages and innovation cycles.
Their partnership with Mark Cuban has been instrumental in providing financial resources and mentorship, allowing NewMilk to scale efficiently.
NewMilk Future Outlook
With increasing consumer demand for sustainable, plant-based products, NewMilk is well-positioned to expand its market share. The company plans to develop more compact and affordable machines for home use, widen its ingredient options, and expand distribution across more retail locations and cafes in the United States and internationally.
Frequently Asked Questions
Who founded NewMilk?
NewMilk was founded by Joseph Savino and Ari Tolvin in 2017.
What is NewMilk’s estimated net worth in 2025?
As of 2025, NewMilk’s net worth is estimated at $70 million.
What products does NewMilk offer?
NewMilk produces machines that make fresh plant-based milk, mainly almond milk, for home and commercial use.
How much did Mark Cuban invest in NewMilk?
Mark Cuban invested $2 million for a 10% stake during their Shark Tank appearance.
Where can I find NewMilk machines?
NewMilk machines are available in over 150 locations across the United States.
What makes NewMilk different from other plant-based milk brands?
NewMilk makes fresh plant-based milk on demand using simple ingredients, reducing packaging waste and avoiding preservatives common in pre-packaged milk.
