Altco is a healthy and plant-based alternative dairy and protein brand that recognizes the extraordinary benefits of plant-based living and is dedicated to providing you with accessible, affordable, and nourishing alternatives.
More About Altco
As a venture by Whitelotus Foods Labs Private Limited, Altco offers a range of plant-based products that cater to your diverse tastes and needs.
Here are the major categories of products that they sell:
- Oat Milk
- Almond Milk
- ALT Protein
- Vegan Chocolates, and more.
Founders of Altco
Rithwik Ramesh and Basan Patil are the co-founders of Altco, a plant-based alternative dairy and protein brand.
Altco Shark Tank Pitch and Updates
Rithwik Ramesh and Basan Patil appeared on Shark Tank India season 3 and shared details about their plant-based brand Altco.
The founders started their pitch by sharing the fact that humans are the only species that depend on another organism for milk-based products. They also shared that after a certain age, humans do not even need milk as a food item but we still consume it almost daily. The milk that we consume has too much adulteration and thus people should look for an alternative.
To help people get the same benefits and find a better alternative, the founders started Altco. With Altco, they provide vegan products that are alternatives to the animal-based products we use. All their products are healthy, tasty, and creamy and the milk from Altco can be used to prepare coffee, tea, and even pasta just like regular milk.
As per the founders, their products are available through both offline and online channels.
After that initial pitch, the founders demanded INR 1.5 Crores for 2% equity at a valuation of INR 75 crores.
After that, the Sharks started asking various questions about their brand:
- All the Sharks tried their milk products and appreciated the taste and the quality.
- Radhika Gupta asked them about their pricing strategy and also asked them if their products are good for lactose-intolerant people or not.
- Ronnie Screwvala asked them about their business model and how they operate their manufacturing and marketing side.
- Anupam Mittal asked about their competitors, market size, and how well the US brands are doing in this segment.
- Peyush Bansal asked them about their story and from where they got the initial funding to start this business. The founders shared that they have already raised one round of funding.
After all the discussion, the founders were not able to receive any investment offers from the Sharks.
Company Name | Altco |
Founders | Rithwik Ramesh and Basan Patil |
Headquarters | Bengaluru |
Founded Year | 2020 |
Business | Plant-based Dairy |
Profitability | No |
Shark Tank Episode | Season 3 – Episode 16 |
Asked For | INR 1.5 Crores for 2% equity |
Deal | No Deal |
Sharks Invested | No Deal |
Valuation Given | No Deal |
Website | Click Here |
Altco did not secure a deal from Shark Tank India season 3 because of various reasons shared by the Sharks.
Frequently Asked Questions About Altco
After their appearance on Shark Tank India Season 3, people tried to find more information about Altco. So here are some of the frequently asked questions about them.
1. Who Is The Founder of Altco?
Rithwik Ramesh and Basan Patil are the co-founders of Altco, a plant-based alternative dairy and protein brand.
2. Is Altco From Shark Tank India profitable?
No, Altco is not a profitable brand yet. As per their Shark Tank India pitch, they had a monthly burn of 45 lakhs on an average revenue of 1 crore.
3. What happened to the Altco after the Shark Tank?
Altco was not able to secure a deal on Shark Tank India season 3. However, they are working on scaling their business.
4. What Is The Valuation of Altco?
Altco appeared on Shark Tank India to raise investment at a valuation of INR 75 crores.
5. Why No Sharks Invested in Altco?
There were various reasons why other sharks did not invest in Altco and below are the major ones:
- As per Radhika Gupta, their packaging and product placement are very confusing and thus she got out of the deal.
- Ronnie Screwvala was not able to sense a vision of future growth and thus he got out of the deal.
- As per Peyush Bansal, they would require a strategic investor and funding of around 50-100 crores for category creation.
- Aman Gupta also found that the market was not yet ready for their products and thus left the deal.
- Anupam Mittal also left the deal for similar reasons.