Alex Houseman asked for $250,000 on Shark Tank Australia in 2015. He offered 8% of his dairy-free ice cream company, Over the Moo, implying a $3.125 million valuation. The sharks passed. Nine years later, the company reports a 690% gross profit growth and its products are in every Coles and Woolworths store in the country. It is a classic bootstrapped growth story, now with a second act in the UK.
A wedge of coconut cream and chocolate
Over the Moo's initial wedge was simple. Founder Alex Houseman, who is lactose intolerant, saw a gap for a tasty, coconut-based dairy-free ice cream in Australia. The product prioritized simple, classic flavors like vanilla and caramel. Its vanilla bean ice cream lists coconut cream as 48% of its ingredients. The company's UK expansion, led by Simon Goodman, pivoted the format. Goodman, inspired by the Australian original, launched bite-size, dark-chocolate-coated vegan ice cream snacks in sharing pouches. The UK product, registered under Over The Moo UK Ltd, is manufactured in London and sold through frozen delivery services and wholesale distributors.
The retail footprint
Traction is measured in freezer doors. Over the Moo's Australian products are now stocked in over 2,200 stores nationally, a figure that includes every Coles and Woolworths location as well as 450 IGA supermarkets. The UK operation, while newer, has established distribution through channels like Mighty Plants and wholesale distributors Thyme, On the Rocks, Faire, and CLF.
| Role | Individual | Geography |
|---|---|---|
| Founder (Australia) | Alex Houseman | Australia |
| Founder (UK) | Simon Goodman | United Kingdom |
| Co-Director (UK) | Ian Priest | United Kingdom |
The capital question
Over the Moo's path is conspicuously light on outside investment. The Shark Tank pitch remains the only publicly detailed financing event. The company's subsequent growth appears to have been funded through operations. In the UK, Over the Moo competes directly with brands like Little Moons, which gained viral fame for its mochi ice cream balls.
The next twelve months
The 690% gross profit growth figure is a powerful headline, though it stems from a small base. The more concrete milestone to watch is international expansion beyond the UK, or a move into adjacent frozen categories. Ian Priest's involvement as a co-director in the UK suggests a structured approach to that market. A formal seed or Series A round would signal a shift from bootstrapped survival to funded scaling.