The Honest Home Company is an innovative startup that focuses on building solutions that make it easy for people to make more sustainable and eco-friendly choices. Their main focus is to make sustainable choices effortless and easily available so making the switch to eco-friendly is quick and budget-friendly.
More About The Honest Home Company
The Honest Home Company has created everyday products that
- use little to no plastic,
- are free of toxic chemicals,
- are manufactured with organic raw materials,
- and delivered in recycled packaging.
Founders of The Honest Home Company
Mayank Pratap Sisodia is the founder of The Honest Home Company and has an experience with over 10 years of experience in the industry.
The Honest Home Company Shark Tank Pitch and Updates
Mayank Sisodia appeared on Shark Tank India season 3 and shared details about his organic products business. He also shared that he has appeared in front of more than 80 VCs to raise funds, but failed!
In his Shark Tank Pitch, he also expressed his emotions that people taunted him for being a sales guy and suggested that he would not be able to make a brand.
As per Mayank, his first job was in Parle Products Private Limited, then he joined Hindustan Unilever, and later he joined Kapiva Ayurveda. As per his claims, he took Kapiva from zero to 1 crore monthly revenue in just a year.
Mayank Sisodia’s pitch was honest and he shared all the details with the sharks. He also demonstrated his product Floor cleaner which comes in a powder form and can be mixed with water to prepare it. Their company’s main focus is to prevent the use of plastic bottles for everyday use items.
Also, when compared to other competitors, their products are affordable to the consumer. An average floor cleaner costs around 225 Rupees Per Litre and their product can be prepared at 70 Rupees Per Litre.
The founder demanded INR 1 Crore for 2% equity at a valuation of INR 50 crores.
Below are some major interactions that he had with the Sharks:
- Aman loved the packaging and branding done by The Honest Home Company.
- Amit Jain asked about his unit economics and how he prices his products for offline and online markets.
- Namita Thapar was not that impressed by the business process and as per her, the business is not scalable enough.
- Vineeta Singh liked his execution and gave the first investment offer.
- After Vineeta’s offer, Amit Jain, Anupam Mittal, and Aman Gupta too gave their offers and even wanted to come together.
As Amit Jain wanted to go solo, Mayank had two choices, either to take Amit Jain’s offer or go with a deal that had Anupam Mittal, Vineeta Singh, and Aman Gupta.
Finally, Mayank Sisodia went with Amit Jain’s deal.
|The Honest Home Company
|Organic Everyday Products
|Shark Tank Episode
|Season 3 – Episode 1
|INR 1 crore for 2% equity
|INR 1 Crore for 3% equity With 1% Royalty Until 1.5 Cr. Is Recouped
|INR 33.33 Crores
The Honest Home Company got a deal of INR 1 Crore for 3% equity With 1% Royalty Until 1.5 Cr. Is Recouped, at a valuation of INR 33.3 crore from Amit Jain.
Frequently Asked Questions About The Honest Home Company
After their appearance on Shark Tank India Season 3, people tried to find more information about The Honest Home Company. So here are some of the frequently asked questions about them.
1. Who Is The Founder of The Honest Home Company?
Mayank Sisodia is the founder of The Honest Home Company. He founded the company in 2019.
2. Is The Honest Home Company From Shark Tank India profitable?
Yes, The Honest Home Company is profitable and has around 3-4% of net profit.
4. What happened to The Honest Home Company after the Shark tank?
The Honest Home Company got investment from Amit Jain to grow its business. In the coming days, there will be more details about the growth and business process.
5. What Are The Sales of The Honest Home Company After Shark Tank?
The Honest Home Company gets sales for their products both from offline markets and platforms like Blinkit, Amazon, and others. They made a revenue of 14 Crores with an initial investment of 2.25 Crores.
4. What Is The Valuation of The Honest Home Company?
The Honest Homes Company got a valuation of 33.33 Crores after the investment made by Amit Jain.