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Now another season of Shark Tank India is all set to bring on inspiring entrepreneurs on the stage. So, on every first episode of Shark Tank India Season 3, The Honest Home Company made it to the show.
Mayank Pratap Sisodia is the founder of The Honest Home Company. This startup is replacing plastic-free packaging with paper and sustainable bags.
Now there is a high awareness about the harmful effects of plastic bags. But still, India is fighting to replace plastic bags with sustainable substances.
About Mayank Pratap Sisodia
So, Mayank Pratap Sisodia took the initiative to replace the plastic packaging with the sustainable products. Yes, Mayank is a good Sales guy and has expertise in it.
Mayank Pratap did his graduation in Punjab and did his MBA in Lucknow. Then after his education, he got his first job in Parle company as a Director sales Officer.
His passion for sales made him join HUL and work for 7 years and he got 3 promotions during his career at HUL.
Finally, he took a break from the giant company and then joined and worked with Ayurvedic startup Kapiva.
Kapiva startup was an Ayurvedic-based wellness brand. Since Mayank Pratap Sisodia had immense experience in sales and distribution, took the company sales to the rooftop with his expertise.
He managed to scale kava distribution in various states of India. From his distribution expansion, Kapiva had reached 1 crore revenue sales per month.
However, Mayank Pratap Sisodia was not happy about one factor at Kapiva. Kapiva was selling Ayurvedic and Organic products with plastic packaging. At this point, something hit Sisodia’s mind.
Sisodia was not happy with the plastic packaging and wanted to solve it for this very reason. So, in 2019 Mayank Pratap Sisodia started ” The Honest Home Company”.
The Honest Home Company Startup Story
Sisodia had immense experience in the distribution and Sales field. He thought it would make him build a successful business. Initially, his 3 friends invested 1 crore into the business and took 20% of the company.
Even Pratap Sisodia the founder of Honest Home Company had put 60 to 80 lakhs as an initial investment.
Now, Sisodia’s main focus was not the product but instead its packaging. Yes, Sisodia wanted to solve the plastic packaging problem. So, he replaced plastic with sustainable product packaging.
The Honest Home Company Products List
- Toilet Tissues
- Kitchen Towels
- Tissues
- Songe Wipes
- Other Plast, cleaning, and Paper Products.
In his entrepreneurial journey, he faced many rejections. Yes, Mayank Sisodia could get any investment from VC. In total, he had to face 80 VC rejections.
However, his perseverance and persistence made him build a successful startup. In comparison to other products, The Honest Home company products are way too affordable.
A normal floor cleaner is available for Rs. 225 per liter but Hone Home Company’s Floor cleaner is Rs. 70 per liter. So, it is over half of the price.
The Honest Home Company: Shark Tank India Season 3
Mayank Pratap Sisodia was the first Startup to be featured on the very first episode of Shark Tank India Season 3 on Sony LIV.
He made a brilliant move while pitching his startups. As Mayank Pratap Sisodia sticks to the two words “Honesty” and “Affordable Price”.
He started his startup Pitch on Shark Tank focusing more on sustainability, honesty, and affordability. Even the Sharks were also impressed with his pitch.
Also Read : KreditBee Startup Story from 3 lakhs to 8000 crores
Sales, and Revenue of The Honest Home Company
Mayank Pratap founder of The Honest Home Company talked about the sales and revenue of his startup
2019- 2020 – 1.82 crores
2020- 2021 – 2.89 crores
2021- 2022 – 4.9 crores
2022- 2023 – 13.8 crores
Even he closed his 2023 with 60 lakhs of net profit.
Sisodia also talked about the worst time in his startup journey. During 2020, due to COVID-19, he was not able to make any sales for six months. As he had only offline distribution sales and did not have any online channels.
But in the middle of the pandemic crisis, he started selling online. Now he’s out of his total sales
MarketPlace – 24%
Quick Commerce – 30%
Contributes more than 50 % of his sales.
Also Read : ThinkSchool Founder Story
Shark Tank Funding with Sisodia’s Plastic free Startup
Mayank Pratap Sisodia came up with the initial ask for 1 cr for 2% of the company with the 50 cr of valuation.
In Shark Tank India S3, Anupam, Vineeta, and Namitha Thapar had given an offer of 1 cr for 3% with 1% of royalty until 2 cr gets recouped.
On the other hand, Amit Jain, CarDekho founder had the offer of 1 cr for 3% with 1% royalty until 1.5 cr is recouped
Finally, Mayank Pratap Sisodia took Amit Jains’ offer on Shark Tank India Season 3.
Related Question about The Honesty Home Company founder
“The Honest Home Company Fundings, Revenue in Shark Tank India Season 3”
1) What is the educational background of the founder Honest Home Company?
Mayank Pratap Sisodia Education
- Saraswathi Vidya Mandir – 2002 -2003
- DAV College, Chandigarh with CS Engineering Degree 2004 – 2007
- Jaipuria Institue of Management – MBA 2008 – 2010
2) The Honest Home Company Valuation?
As per the Shark Tank India S3, Sisodia’s The Honesty Home Company got a valuation of 33.33 crores.
3 ) What are The Honest Home Company’s Sales and Revenue?
This company made 14 crores of revenue in FY23 with 60 lakhs of net profits.
4 ) Is The Honesty Home Company Profitable?
Yes, the company is profitable, even Mayank Sisodia said that his company made 60 lakhs net profit in FY23.
5 ) What is the equity split of Honest Home Company?
Mayank Sisodia started the company in 2019 with an initial investment of 2.25 crores. Where his 3 friends gave 1 crore in exchange for 20 % of the equity. Now, in Shark Tank India Season 3, Amit Jain Car Dekho founder entitled to 3% of the equity. Now, Mayank Sisodia holds 77% of his company.
The Honest Home Company Fundings, Revenue in Shark Tank India Season 3