Homestrap on Shark Tank India, episode, founder, deal, valuation, products price, net worth

Homestrap is a Fabric Furnishing Business that has been recently featured on Shark Tank India Season 2. Find out more about the company and its experience on the show

Shark Tank India season 2 has gained immense popularity as a reality television program in India that focuses on business-related content. The show revolves around business owners presenting their ideas to a group of potential investors, commonly known as “sharks,” with the aim of raising funds for their ventures.

The investors, or sharks, have the option to invest their own capital in the presented project in exchange for shares in the business, or they can choose to pass on the opportunity. The sharks have specific preferences when it comes to investing, which makes their reactions to the latest pitch from Homestrap Fabric Furnishing Business quite intriguing.

Homestrap Fabric Furnishing Business proposes innovative designs for everyday accessories to effectively organize our belongings. This business idea is not only unique but also addresses a significant problem faced by a vast majority of Indian households.

Homestrap on Shark Tank India, episode, founder, deal, valuation, products price, net worth in 2023

As a result, many of the sharks made some compelling offers to the founders, and the business successfully secured its investment from the show. So, let’s find out more about the company and its experience on the show.

More about Homestrap

Founded in 2013 by Akash Mehta and Priyanka Mehta, Homestrap has established itself as a prominent brand in the e-commerce marketplace. The brand offers a diverse range of products in categories such as Home Storage & Organization, Furniture, and Arts & crafts.

It is particularly noteworthy for its innovative solutions that make organizing everyday belongings more convenient. Their Home Storage Solutions come in various sizes, ranging from 5-10 SKUs to a staggering 650 SKUs, catering to the diverse needs of customers.

Homestrap takes pride in its commitment to empowering women, with over 200 women employed directly by the company. Their efforts have resulted in over 1.5 million satisfied customers, who appreciate the brand’s dedication to quality and affordability.

One of its standout features is its ability to offer thoughtful solutions for wardrobe organization that are so intuitive and easy to use that even a child can manage it. With an average selling price of ₹505, its range of products is affordable and high quality.

Its experience on Shark Tank India 2

During a recent episode of Shark Tank India season 2, Homestrap Fabric Furnishing Business presented its innovative ideas and solutions to the panel of sharks. Shark Anupam, in particular, took a keen interest in the business and made a series of offers to the founders to secure his investment.

The first offer from Shark Anupam was ₹50 Lakh for 10% equity and ₹20 Lakh Debt at 10% interest, with a valuation of ₹5 Crore. However, the business pitcher made a counter offer of ₹50 Lakh for 5% equity and ₹20 Lakh Debt at 10% interest, with a valuation of ₹10 Crore.

After a series of back-and-forth negotiations, the revised offer from Shark Anupam was ₹50 Lakh for 8% equity, ₹20 Lakh Debt at 10% interest, with a valuation of ₹6.25 Crore. In response, the business pitcher counter-offered with ₹50 Lakh for 7% equity, ₹20 Lakh Debt at 10% interest, with a valuation of ₹7.14 Crore.

Finally, Shark Anupam closed the deal on the business pitcher’s counter offer, offering ₹50 Lakh for 7% equity, and ₹20 Lakh Debt at 10% interest, with a valuation of ₹7.14 Crore.

ALSO READ: What is the Wachtell US Law Firm, its salary, fees, owner, clients and cases as Gautam Adani hires it vs Hindenburg Research