The Honest Home Company, founded by Mayank Pratap Sisodia, made a compelling pitch in Shark Tank India Season 3, showcasing their range of eco-friendly and sustainable home and kitchen products. Aimed at reducing the environmental impact of daily household items, their products include eco-friendly cleaning solutions and sustainable paper goods, all packaged without plastic to combat the growing issue of plastic waste.
About The Honest Home Company
| Startup / Company Name | The Honest Home Company |
| Industry | Home and Kitchen Cleaning Products |
| Founder | Mayank Pratap Sisodia |
| Product / Service | Everyday cleaning products and paper products that are completely plastic-free, promoting sustainability and eco-friendliness. |
| Started in | The end of 2019 |
| Revenue | Annual revenue of 14 Crore INR |
About The Pitcher
| Number of Presenters | One presenter |
| Name of Presenters | Mayank Pratap Sisodia |
| Pitchers City | Dhampur |
| Pitchers State | Uttar Pradesh (UP) |
| Revenue | Annual revenue of 14 Crore INR |
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The Honest Home Company Pitch Details
| Shark Tank Episode | Episode 1 |
| Original Ask Amount | ₹ 1 Crore |
| Original Ask Equity | 4% |
| Original Valuation | ₹ 25 crores |
| Offer Received | 1 Crore INR for 4% equity and 1% royalty until 1.5 times of the investment is recouped by Vineeta Singh and was also matched by Shark Amit Jain. A combined offer by three sharks for 2 Crore INR for 8% equity with the same royalty condition: This offer involved a collaboration among Sharks Aman Gupta, Anupam Mittal, and Peyush Bansal. They pooled together to propose 2 Crore INR for 8% equity, maintaining the 1% royalty condition until 1.5 times of the investment was recouped. |
| Final Deal Amount | ₹ 1 Crores |
| Total Deal Equity | 4% equity |
| Sharks in Deal | Amit Jain |
Solutions Offered
The Honest Home Company offers a range of solutions aimed at reducing the environmental impact of household cleaning and paper products. Their business model centers around providing eco-friendly alternatives to everyday items that are typically packaged in plastic, thereby contributing to the plastic waste problem. Their product line includes:
Eco-Friendly Cleaning Products: These are everyday cleaning items such as dishwash liquid, floor cleaners, and more, designed to minimize the use of harmful chemicals and plastic packaging.
Sustainable Paper Products: Including toilet paper and wrapping paper, these products are made from sustainable sources and are an alternative to those that typically come in plastic packaging.
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Lesser Known Facts About The Honest Home Company
- Founder’s Background: Mayank Pratap Sisodia, the founder of The Honest Home Company, comes from an agricultural family background, which deeply influenced his commitment to sustainability and ethical business practices.
- Company Mission: The Honest Home Company is dedicated to producing eco-friendly and sustainable home and kitchen products, aiming to reduce the environmental impact of everyday items and combat the plastic waste problem.
- Product Range: The company offers a variety of products, including eco-friendly cleaning solutions and sustainable paper goods, all designed to be effective, affordable, and free from plastic packaging.
- Innovative Solutions: One of the company’s notable innovations is the introduction of concentrated cleaning product refills, allowing customers to reuse their containers and significantly cut down on plastic usage.
- Shark Tank Appearance: The Honest Home Company was featured in Shark Tank India Season 3, where Mayank presented his business to the Sharks, seeking investment and strategic partnerships.
- Original Ask on Shark Tank: Mayank asked for 1 Crore INR in exchange for 4% equity in his company, valuing The Honest Home Company at 25 Crore INR.
- Sharks’ Interest: The pitch generated significant interest among the Sharks, leading to multiple offers, including equity for capital, and royalty arrangements.
- Final Deal: Shark Amit Jain secured the deal with Mayank, offering 1 Crore INR for 4% equity along with a 1% royalty until 1.5 times the investment was recouped.
- Revenue: At the time of the pitch, The Honest Home Company had an annual revenue of 14 Crore INR, demonstrating substantial market traction and financial success.
- Eco-Conscious Impact: The Honest Home Company is part of a growing movement towards sustainability, offering products that cater to the environmentally conscious consumer and encouraging a shift in consumer habits towards more sustainable living.
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