Plant-based milk brand OatMlk forays into Singapore and the US – ET Retail

Plant-based milk brand, OatMlk has recently forayed into the Singapore market and is planning to enter the US in August.

As far as international presence is concerned, the brand also has a presence in the UAE.

“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,” said Rishabh Gupta, Co-Founder, OatMlk.

The brand is planning to transition from a plant-based milk company to a wellness brand by launching new products like chocolate protein drink and products related to sleep and health and 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.

Initially, OatMlk was a bootstrapped brand where both the founders – Rishabh Gupta and Akash Wadhwani – invested Rs 15 lakh each from their own savings, however, in April 2022, the brand raised about Rs 1 crore from angel investors for marketing and R&D.

“Going ahead, we are planning to raise more funds, however, we are a profitable company and we are not burning cash,” he added.

The brand, which clocked Rs 2 crore revenue last fiscal, is targeting for Rs 6 crore revenue this fiscal.