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Homestrap has raised INR 50 lakh from shark tank season 2. The pitcher requested 70 lakh rupees in exchange for 1% equity. Anupam Invested in this startup.
Anupam offered 50 lakhs rupees for 10% equity and 20 lakhs debt at 10% interest. Then pitcher gave a counteroffer for 50 lakhs for 5% equity and 20 lakhs debt at 10% interest. Again Anupam offered 70 lakhs for 10% equity removing the debt and pitchers counteroffer 70 lakhs for 6% equity.
Later Anupam countered for 50 lakhs in exchange for 8% equity and 20 lakhs rupees debt at 10% interest. Then again, Pitcher’s counteroffer was 50 lakhs for 7%, and the debt structure remains the same. And the deal was done with Anupam for 50 lakhs rupees in exchange for 7% equity and 20 lakhs debt at 10% interest.
Also Read Ubreathe Has Raised 50 lakhs rupees in exchange for 10% equity and 1 crore rupees debt at 10% interest from shark tank season 2. Namita invested in this startup. The pitcher made an ask of 1.5 crore rupees for 7.5% equity.
About Homestrap
Priyanka Mehta and Akash Mehta. They are Indore natives. They are a married couple. They have been friends for 22 years. When they had their first child, their life became very chaotic. They then understand that this is their dilemma and the tale of every family. Therefore they started Homestrap.
Homestrap Fabric Furnishing Business Such thoughtful solutions make wardrobe organization so easy that even a child can manage it. Families can enjoy more free time to bond and relax instead of spending hours organizing their closets from time to time. They are a digital-first home storage and solutions brand created to make people’s lives easier and more organized by solving the Great Indian Wardrobe Challenge.
Homestrap Business Statistics:
Homestrap Fabric Furnishing was started in 2013. Research has shown that 70% of India’s home storage problems are wardrobe related. Homestrap has processed over two million orders. Homestrap offers Home Storage Solutions from 5-10 SKUs to 650 SKUs. It directly employs over 200 women and has over 1.5 million customers. The average selling price is ₹505.
Homestrap Yearly Sales
FY 2016 – 17, Sales – ₹2.13 Cr
FY 2017 – 18, Sales – ₹7 Cr
FY 2018 – 19, Sales – ₹9 Crore
FY 2019 – 20, Sales – ₹12 Crore
FY 2020 – 21, Sales – ₹19 Cr
Projected sales in FY 2022 – 23 is ₹22 Cr.
Gross Margin – 55% and EBITDA – 3%.
What Problem Do They Solve
Homestrap is a digital-first home storage and solutions company founded to simplify and organize people’s lives by finding a solution to the Great Indian Cupboard problem. Their straightforward yet thoughtful solution, which results from their thorough market research, makes organizing cupboards so simple that even a toddler can do it. In contrast to occasionally spending hours rearranging their cupboards, families may now enjoy more free time to spend together and unwind.
Their extensive line of goods for Indian cupboards- including our innovative shirt stackers, hanging shelves, jewelry organizers, and drawer dividers- is made to be more effective. They relieve their customer’s anxieties and increase their confidence by assisting them in finding the appropriate item at the proper time.
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