‘Ek cheez jo mujhe achche se pata hai ki customer ko kya chahiye’
‘Aur vo hai imaandaari’
That’s how the inaugural pitch of the season began at the third installment of Shark Tank India. Mayank Pratap Sisodia, the founder of The Honest Company, which makes planet-friendly packaging solutions, struck a chord with the sharks. The company, originating in 2019 in Dhamapur, Uttar Pradesh, has gained recognition for its sustainable, eco-friendly offerings, encompassing items such as food wraps and cleaning products. During his pitch, Anupam Mittal of Shaadi Dotcom asked if his company was inspired by Hollywood star Jessica Alba’s Honest Company. Cool as a cucumber, the pitcher stated that he wasn’t even aware of the American startup until he received a notice from her.
Jab unhone mujhe notice bheja tab mujhe malum chala
Remarking on the eco-friendly products of his company, Mayank stated
Hum sustainability aur eco-friendly ke naam par logon ko choona nahi lagate
#TheHonestHomeCompany by Mayank Pratap Sisodia is linked to Jessica Alba, and how! 💡
Stream new episodes of Shark Tank India Season 3, from Mon-Fri 10 PM, on Sony LIV.#SharkTankIndiaSeason3OnSonyLIV#SharkTankIndia#SharkTankIndiaOnSonyLIV pic.twitter.com/j3sbTqmbEv — Shark Tank India (@sharktankindia) January 24, 2024
Mayank Pratap Sisodia sought an investment of INR 1 crore in exchange for a 2% equity stake in his plastic-free packaging startup. The pitch culminated in a deal with investor Amit Jain, who pledged INR 1 crore for a 3% equity share, along with a 1% royalty, until reaching a total repayment of INR 1.5 crore, placing Honest Home Company at an approximate valuation of INR 33 crore. A graduate from DAV College in Chandigarh, Mayanak had a brief stint at Parle Products and worked six years at Unilever. Despite facing about 80 rejections from VCs as his CIBIL was low due to defaulting on EMIs owing to COVID, Mayank’s startup has made a significant turnover of Rs 14 crore. Rs 60 lakh is shuddh profit on the turnover. His target is a turnover of Rs 80–100 crore by 2025. Remarking about his journey on LinkedIn, Mayank dubbed it an unforgettable milestone. He thanked the sharks, especially CarDekho founder Amit Jain, for their trust in the funding.
Meanwhile, this is how the shark reacted to Mayank’s LinkedIn post
