What Happened to Hoovu Fresh After Shark Tank India?
What is Hoovu Fresh?
Hoovu Fresh is a flower brand. Hoovu means flower. Hoovu Fresh provides fresh flowers to its customers.
Normally flowers don’t last that long. But Hoovu Fresh worked on this problem. Now with the help of their machinery and in-house techniques, they are capable of keeping the flowers fresh for 15 days.
Who is the Founder of Hoovu Fresh?
Yeshoda Karuturi & Rhea Karuturi are the founders of Hoovu Fresh. They are siblings. They want to provide fresh flowers to everyone. They have a family business in flowers.
Yeshoda Karuturi studied at Washington University & Rhea Karuturi studied at Stanford University.
Yeshoda is the CEO and looks after operations & finance. Rhea is the CTO and looks after marketing & tech.
Hoovu Fresh Before Shark Tank India?
Hoovu Fresh is available in 8 cities. It has built a network with 300+ temples and 500+ farmers. It has processed more than 2 million orders.
Normally the wastage in the flower industry is 40%, but Hoovu Fresh reduced it to 2% ~ 3%. There are 60 women employees in Hoovu Fresh right now.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹80 Lakhs for 1% equity in their company Hoovu Fresh. Which gives the company a valuation of ₹80 Crores.
How much money did they raise for Hoovu Fresh?
They raised ₹3.5 Crores on a ₹50 Crores valuation.
Market size of flowers
The total market size of flowers in India is ₹2.5 Lakh Crores.
How to get Hoovu Fresh?
You can order Hoovu Fresh flowers from their main website.
What are the Monthly Sales of Hoovu Fresh?
| Month | Sales | Profit |
| June 2022 | ₹45 Lakhs | |
| July 2022 | ₹50 Lakhs | |
| August 2022 | ₹1.1 Crores | ₹15 Lakhs |
What are the Annual Sales of Hoovu Fresh?
| Fiscal Year | Annual Sales |
| 2021 – 2022 | ₹5 Crores |
| 2022 – 2023 | ₹10 Crores Projected |
Which shark gave Hoovu Fresh an offer?
Namita Thapar & Vineeta Singh offered them ₹40 Lakhs for 4% & ₹40 Lakhs debt at 12% interest. But later they revised their offer. The revised offer was ₹50 Lakhs for 1% & ₹30 Lakhs debt at 12% interest.
Anupam Mittal was out. He advised them to work on their technology and improve it further.
Aman Gupta & Peyush Bansal offered them ₹1 Crore for 2%. They matched their last round valuation.
| Offer 1 | Offer 2 |
| Namita Thapar & Vineeta Singh – ₹50 Lakhs for 1% & ₹30 Lakhs debt at 12% interest | Aman Gupta & Peyush Bansal – ₹1 Crore for 2% |
What deal did Hoovu Fresh get in Shark Tank India?
Hoovu Fresh got a deal from Aman Gupta & Peyush Bansal. The deal was ₹1 Crore for 2%.
| Company Name | Hoovu Fresh |
| Founders | Yeshoda Karuturi & Rhea Karuturi |
| Asked Amount | ₹80 Lakhs for 1% |
| Final Deal | ₹1 Crore for 2% |
| Sharks | Aman Gupta & Peyush Bansal |
| Company Net Worth | ₹50 Crores |
| Company Website | hoovufresh.com |
| Company Status | In Business |
What is the net worth of Hoovu Fresh?
After the two-shark deal, the net worth of Hoovu Fresh is ₹50 Crores.
Is Hoovu Fresh still in Business?
Yes, Hoovu Fresh is still in the fresh pooja flower business.
