Founders & their story

• Rithwik Ramesh
• Basan Patil

Alt Co is a Bengaluru-based company that specializes in providing plant-based alternative dairy and protein products. With a mission to offer tasty, healthy, and creamy alternatives, Alt Co’s product line includes a variety of plant-based dairy options such as Oat Milk, Almond Milk, Soy Milk, and other alternatives. These products are tailored to address the needs of a market where an estimated 70% of the Indian population may be unaware of their lactose intolerance, making plant-based alternatives not only a choice for health-conscious consumers but also a necessity for many. One of the core values of Alt Co is its commitment to health and sustainability. The company emphasizes the health benefits of its plant-based alternatives while also contributing to environmental sustainability efforts. By offering alternatives that are both healthier and more environmentally friendly, Alt Co aligns with the evolving preferences of consumers who seek products that are not only good for them but also good for the planet.

Alt Co sets itself apart by ensuring that its products are free from gums and emulsifiers, maintaining a clean and natural composition that resonates with discerning consumers. This commitment to quality extends to the shelf life of Alt Co’s products, with milk options boasting a shelf life of 12 months, and flavoured milk products retaining their quality for up to 6 months. This not only provides convenience to consumers but also minimizes food wastage, contributing to sustainable consumption practices. In terms of distribution, Alt Co adopts a comprehensive approach by making its products available through both offline and online channels. This strategy aims to maximize accessibility and reach, ensuring that consumers can easily access Alt Co’s plant-based alternatives wherever they prefer to shop.

Behind Alt Co’s success lies a significant investment in research and development (R&D), with the company allocating 5 crores towards this endeavour. This investment underscores Alt Co’s commitment to innovation and continuous improvement, ensuring that its products remain at the forefront of the market. Furthermore, Alt Co has invested in infrastructure, with a capex of 3 crores allocated for its manufacturing plant. This investment in production capabilities reflects the company’s dedication to scaling its operations to meet the growing demand for plant-based alternatives in India.

Alt Co’s journey is supported by its founders, who have invested 4 crores into the company, demonstrating their confidence in its potential. Moreover, Alt Co has successfully raised a total of 14.8 crores, providing the necessary capital to support its operations and fuel its growth initiatives. With the Indian plant-based dairy and protein market estimated at 1000 crores and continuing to expand rapidly, Alt Co is well-positioned to capture a significant share of this burgeoning sector. Through its unwavering commitment to quality, innovation, and sustainability, Alt Co is poised to make a meaningful impact on the Indian food industry while offering consumers healthier and more sustainable alternatives to traditional dairy and protein products.

About the company

Embracing a plant-powered lifestyle lies at the core of Altco’s mission. They acknowledge the remarkable advantages of plant-based living and are devoted to offering accessible, budget-friendly, and nourishing alternatives. Their dedication to sustainability permeates every aspect of the brand. In a world increasingly inclined towards healthier and more sustainable options, Altco emerges as a plant-based brand that prioritizes exceptional taste, well-being, and environmental consciousness. Whether sourcing premium plant ingredients or utilizing eco-conscious packaging, Altco maintains a standard of excellence without compromising on quality.

Adapting to an ever-evolving world, Altco empowers individuals to make positive choices daily. They believe in enabling desired changes, presenting a variety of plant-based options that cater to diverse tastes and requirements. Whether it’s enhancing morning beverages, elevating cereal experiences, or indulging in mood-boosting treats like ice cream, Altco enriches everyday moments. As a venture under Whitelotus Foods Labs Pvt Ltd., they are dedicated to fostering a world where plant-based living isn’t just a preference but a celebration of vitality, compassion, and mindful consumption. Join them on this journey towards a greener, healthier future.

Revenue

Alt Co prices its Alt Milk at 299 Rs. The company experienced substantial growth in sales, with November 2023 sales reaching 1.1 crores. However, this growth was accompanied by a burn of 45 lakhs during that period. For the fiscal year 2022-2023, Alt Co reported annual sales of 1.5 crores. By December 2023, the sales had surged to 6 crores, indicating a significant expansion. The projected sales for the full fiscal year 2023-2024 stand at an impressive 10 crores. Despite the growth, the company expects a burn of 5 crores during this period, reflecting its investment in scaling operations and market expansion. Alt Co has invested 1.5 crores in total listing fees to enhance its visibility and accessibility in the market.

Founders’ Ask 

1.5 crores for 2% equity at the valuation of Rs. 75 crores.

No Deal

Reasons for no deal

Radhika: Alt Co’s marketing, terms, and ingredients lack clarity, leading to a lack of trust in their business.

Ronnie: Lack of clarity regarding future.

Peyush: Lack of clarity of vision. The founders need a strategic investor.

Aman: The Indian market is not yet ready.

Anupam: Product is good, but market is nascent.