What Happened to Hoora After Shark Tank India?
What is Hoora?
Hoora is a doorstop car & bike care application. It is a mobile application that lets its users book car & bike washing services at home. This takes off the hassle of taking your car to the garage yourself. You can get the service anytime and anywhere.
Hoora has reduced water consumption by five times for washing cars. There are more than 15,000 car washing centers in India. They use 1 Crore liters of water every single day.
So, this startup is not only making your life more comfortable but also, it’s being environmentally friendly at the same time. It has saved 15 Lakh liters of water in 1 year.
The services Hoora offers,
- Seat deep cleaning
- Full deep cleaning & coating
- Interior only
- Interior & exterior pressure
- Waterless Interior & exterior
- Interior & exterior underbody
- Car wash & coating
- Bike cleaning & coating
Who is the Founder of Hoora?
Yashwant Budhwani & Harsh Somani are the founders of Hoora. The founders met each other in a Y-Combinator.
Hoora Before Shark Tank India?
The app has been downloaded more than 1 Lakh times. The Hoora head office is based in Nagpur. They are currently focused on deep cleaning of the car.
It has 9k followers on Instagram.
The market size for car wash services ranges from ₹3,000 ~ ₹4,000 Crores. Currently, Hoora is doing 2000 services per day.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹80 Lakhs for 2% equity in the company Hoora. Which gives the company a valuation of ₹40 Crores.
How much money did they raise for Hoora?
| Time | Money Raised | Valuation |
| April 2022 | ₹5 Lakhs | |
| October 2022 | ₹14 Lakhs | ₹5 Crores |
| March 2023 | ₹47.5 Lakhs | ₹5 Crores |
How to get Hoora?
You can easily download the application from the Google Play Store & Apple Store. When you order a service using the application, a service partner will come to your place with his proprietary backpack.
The initial investment for a service partner is ₹3 Lakhs for 2 cleaning kits.
The backpack contains a vacuum cleaner & a pressure washer. The pressure washer and the power source are built by Hoora. It also has a patent on it.
Earning of service partner
| Before Hoora | ₹15,000 ~ ₹20,000 |
| With Hoora | ₹35,000 ~ ₹40,000 |
Unit Economics of Hoora
The price of Hoora starts from ₹99. Their minimum order value is ₹200. Their average order value is ₹400.
| Sales | 100% |
| Service Partner margin | 25% |
| Kit cost | 15% |
| Gross margin | 60% |
| Salary | 25% |
| Marketing | 25% |
| Other expenses | 15% |
| EBITDA | -5% |
Hoora with 300 service partners
| Average daily sales per partner | ₹1500 |
| Daily commission per partner | ₹225 |
| Daily Commission | ₹80,000 |
| Monthly Commission | ₹24 Lakhs |
What are the Monthly Sales of Hoora?
Currently, their monthly sales are ₹31 Lakhs. They’re growing 100% every quarter.
What are the Annual Sales of Hoora?
| Fiscal Year | Sales |
| 2023 – 2024 Q1 | ₹40 Lakhs |
| 2023 – 2024 Q2 | ₹90 Lakhs Projected |
Which shark gave Hoora an offer?
Anupam Mittal was out. He advised them to redirect their energy to something else. He advised them to not pursue this car washing startup any further.
Amit Jain was out. He didn’t understand the business fully.
Namita Thapar was out. She thought the business would be hard to scale.
Aman Gupta was out. He liked the founders. But he wasn’t sure whether this business could multiply his money or not.
Vineeta Singh was out. She didn’t think the TAM was lucrative enough.
What deal did Hoora get in Shark Tank India?
Hoora didn’t get any deal in Shark Tank India.
| Company Name | Hoora |
| Founders | Yashwant Budhwani & Harsh Somani |
| Asked Amount | ₹80 Lakhs for 2% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹40 Crores |
| Company Website | hoora.in |
| Company Status | In Business |
What is the net worth of Hoora?
The net worth of Hoora is ₹40 Crores.
Is Hoora still in Business?
Yes, Hoora is still in the car servicing business.
