OatMlk, a renowned plant-based milk brand, has recently made its debut in the Singaporean market and is now gearing up to expand its reach to the United States in August.
As far as international presence is concerned, the brand also has a presence in the UAE.
Rishabh Gupta, Co-Founder, OatMlk, said, “Currently, international exports contribute to 5 per cent of the total business and by this fiscal end, we are eyeing to take it to 10 per cent.”
With the goal of evolving into a holistic wellness brand, the company is strategizing a transition from its current identity as a plant-based milk company. As part of this transformation, they are preparing to launch new products that include a chocolate protein drink and a diverse range of items catering to sleep, health, and overall wellness.
“At present, we are supplying to over 40 cities in India and follow B2B strategy. We plan to expand on the B2C segment as well going ahead as we plan to build direct relations with our consumers,” he stated.
Originally, OatMlk started as a bootstrapped brand, with both founders, Rishabh Gupta and Akash Wadhwani, investing INR 15 lakh each from their personal savings. However, in April 2022, the brand successfully secured approximately INR 1 crore from angel investors specifically for marketing and research and development (R&D) purposes.
“Going ahead, we are planning to raise more funds, however, we are a profitable company and we are not burning cash,” he added.
Having achieved a revenue of INR 2 crore in the previous fiscal year, the brand has set its sights on generating INR 6 crore in revenue for the current fiscal year.
