Inside Oatside’s surging revenue

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Hello reader,

I love drinking milk. Almost every night since I was young, I’ve downed a glass right before going to sleep.

Over the years, I’ve tried different brands: HL, Pauls, Meiji, you name it. I’m particularly fond of the chocolate-flavored Meiji milk.

In recent years, I’ve seen Oatside milk making more of a name for itself. I’ll be honest, when I first tried its Original flavor, I wasn’t really blown away. It wasn’t bad by any means, but it just wasn’t really my thing.

Since then, however, the oat milk brand has come out with several new flavors, and it’s really started to grow on me.

It seems like Oatside is doing something right. Beyond capturing potential new customers like myself, the firm has grown its revenue by 3x from 2022 to 2023. Today’s story dives into the details and explores how it’s been doing so well.

Today we look at:

• What you “oat” to know about Oatside
• A female wellness startup’s seed round
• Other newsy highlights such as Ant Group joining a sandbox project and SenseTime’s jump in revenue

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The (G)OAT of plant-based milks?

Image credit: Timmy Loen

If you enjoy Oatside, then this should give you an interesting inside look into how the company not only formulated its milk but how it made a hefty chunk of revenue in the process.

• Growth spurt: The company now has a presence in 18 countries, including Indonesia, Japan, and China. This helped it score a revenue of US$41.4 million in 2023, a 3x year-on-year increase.
• Start to finish: Oatside owns its own factories and production lines, which allows it to fine-tune its recipes more quickly. It manufactures its products in Bandung, Indonesia, using natural spring water from around the area as well as Australian oats.
• Cross-pollination: Oatside has also expanded its reach through partnerships with companies like Flash Coffee. It’s also collaborated with other firms including Janji Jiwa in Indonesia, Yardstick Coffee in the Philippines, and several other cafes in Malaysia.

Read more: Oatside sows 3x revenue growth as expansion bears fruit

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