How is The Honest Home Company doing after Shark Tank?

• Founder: Mayank Pratap Sisodia
• Business: Home Cleaning and Daily Use Products
• Ask: ₹1 Crores for 2% equity
• Valuation/ Networth: ₹50 Crores
• Funding: ₹1 Crores for 3% equity + 1% royalty until ₹1.5 Crores is Recouped.
• Sharks: Amit Jain
• Episode: Season 3 Episode 1

The Honest Home Company Shark Tank Pitch:

Mayank Sisodia, a man from the small town of Dhampur, Uttar Pradesh, believes that we should give back as much to the earth as it gives us. In 2019, he started Honest Home based on this cornerstone of his belief, with an initial investment of ₹2.25 Crores, aided by his three friends with ₹1 Crore as a 20% stake in the company. The company makes plastic-free cleaning and paper products. These products are eco-friendly and sustainable, as claimed by the founder.

In the last six months, 40% of sales came from offline channels, 24% from marketplaces, and 30% from Quick Commerce. Honest Homes has a 33% customer repeat rate on Amazon and 16% on Blinkit, which is significantly higher than the average customer repeat rate. In FY22-23, they generated ₹13.83 Crores in revenue, but their profit was only ₹60 Lakhs, resulting in a 4% net margin.”

Honest Homes Shark Tank Negotiations & Funding:

Namita was the first shark to opt out because she believes this business will have scalability issues. Vineeta offered ₹1 Crore for 4% equity plus 1% royalty until ₹1.5 Crores is recouped, and Amit matched Vineeta’s offer. Anupam offered ₹1 Crore for 3% equity plus 1% royalty until ₹2 Crores is recouped. Mayank requested Amit to match Anupam’s offer, and he did. Aman also matched Anupam’s offer. Mayank requested all four sharks to join Honest Venture. Anupam gave an offer on behalf of all four sharks: ₹2 Crores for 8% equity plus 1% royalty until ₹4 Crores is recouped. However, Amit expressed his desire to go solo but revised his offer to ₹1 Crore for 3% equity plus 1% royalty until ₹1.5 Crores is recouped. The deal was finalized with Amit.

What Happened to Honest Homes after Shark Tank India?

Our research in Honest Homes revealed that whether their deal with Amit Jain is still unclear as they could still be in the due diligence phase. We will update this article within the next couple of months after verifying if their deal with Amit went through and report back on revenue after the show. In the meantime, you can check out their products by clicking the Amazon Button below!

Here is how other companies from Season 3 Episode 1 are doing.