BUSINESS

Rising Star: Meghana Narayan of Slurrp Farm is making healthy-eating for children fun

By Shreya Singh

14 June, 2023

Meghana Narayan—co-founder of Slurrp Farm—lets us in on the quandary of a lack of healthy snacking options for children, raising funding for her brand, and balancing entrepreneurship with motherhood

Slurrp Farm’s humble beginnings took shape 15 years ago at a  dinner between the ready-to-eat health food brand’s co-founders Meghana Narayan and Shauravi Malik. Little did they know that this dinner would serve as a catalyst, fuelling their determination to change the way children and families approach healthy eating.

Their journey began when Narayan and Malik first met in London in 2007. “A common friend brought Shauravi to my dinner party thinking we would hit it off. Shauravi gate-crashed and came in almost uninvited. Surprisingly we clicked like a pair of mismatched socks,” says Narayan. While both had successful careers at McKinsey and JP Morgan respectively, they yearned for something more.

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"For most of us, true success comes from pursuing our deepest passions," says Meghana Narayan

Fast-forward a few years later and Narayan found herself back in India—still at McKinsey, but this time as a mother to a toddler. That’s when Malik dropped the bomb, indicating that since Meghana now had a baby, she wouldn’t leave her job at McKinsey and partner up with her in their entrepreneurial journey. 

And before they knew it, they dove headfirst into the world of food, learning everything from scratch.

Since then, Slurrp Farm has grown exponentially, with its Annual Recurring Revenue (ARR) skyrocketing by 300 per cent in 36 months.  Their reach has expanded to 2500+ stores across eight cities in India, the UAE, and Singapore. Additionally, they strategically established their presence on major e-commerce and quick commerce platforms including Amazon, Noon, Mumzworld, Big Basket, and FirstCry, making their products easily accessible to a wider audience.

Anushka Sharma's "influence raised Slurrp Farm’s awareness, especially given that she has 60 million followers on Instagram" 

Slurrp Farm has grown exponentially, with its Annual Recurring Revenue (ARR) skyrocketing by 300 per cent in 36 months

Their portfolio ranges from puffed snacks, millet pancake mix, spinach multigrain dosa mix, and cereals to cookies, foxtail millet noodles, chia seeds-oats porridge and other nourishing snacks.

From a modest line-up of six products in 2016, Slurrp Farm has now expanded to an impressive list of 50 offerings for children and families alike. Moreover, between 2018 and 2022, the brand secured significant funding amounting to $10 million, got actor Anushka Sharma as their ambassador, and assembled a team of remarkable individuals. Edited excerpts from a conversation with Meghana Narayan.  

What led you to discover this giant-size gap in the market for healthy ready-to-eat options tailored specifically for kids?

It all started with a personal experience. As a concerned parent, I couldn’t find suitable food options that I felt comfortable feeding my child. That’s when the glaring gap in the market hit me. The opportunity that lay before us was colossal, with a potential market size of around 16,000 crores spanning across various segments. It became evident that India was grappling with alarming rates of undernourishment and malnourishment, not just among the less privileged but even within the affluent circles. Something had gone awry in the way we approached nutrition for our children. As mothers ourselves, Shauravi and I felt a deep frustration when we surveyed the grocery-store shelves. All we found were unhealthy options packed with refined flour, excessive sugar, and additives. It left us wondering why nobody had stepped up to address this pressing issue. And that’s when the lightbulb moment struck: Why not be the ones to make a change? 

In terms of working together with Shauravi, you often joke that you are “co–chasers”. How do you manage the ups and downs together? 

Firstly, there’s no way I could have pulled off this wild ride solo. Shauravi and I have had our fair share of good days and bad, but having someone to call and celebrate with or tackle problems together is a game-changer. It’s like a marriage, you know? We’re not here to build something and make a quick exit. We’re in it for the long haul. Fortunately, I’ve hit the jackpot with my partners. My husband and Shauravi amaze and annoy me in the same way (laughs). I guess I have a type when it comes to people I like! 

But honestly, it’s not just Shauravi and me on this journey. We’ve got a whole squad behind us, from our supportive spouses to wise grandparents. It truly takes a village to raise a family and run a business, and we’re lucky to have them cheering us on.

Slurrp Farm has raised a total of US$10 million in funding across several rounds. How do you raise and deploy funds? 

Throughout our journey, we carefully assessed our funding needs and reasons for raising capital. Initially, we used our savings to bootstrap the company. Shauravi and I often joke about how we used the savings from our twenties to fuel our dreams in our thirties. External funding was sought only when we felt our mission resonated with a wider audience. Many found familiarity  with the issue of excessive sugar and refined flour in children’s food.  

We approached fundraising in phases, overcoming new challenges with each milestone from 5,000 to 10,000 customers and beyond. Expanding our reach became increasingly expensive, requiring significant investment in marketing and brand-building.

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"We never thought we could get someone like Anushka Sharma," says Narayan

Anushka Sharma’s involvement as an investor and brand ambassador has been delightful. It wasn’t just about having a Bollywood superstar but partnering with someone who deeply cared about our cause. Her influence raised Slurrp Farm’s awareness, especially given that she has 60 million followers on Instagram.

From a brand started by two mothers, we’ve grown into a movement, attracting more engaged mothers. Increased funding allows us to reach more consumers, gain visibility, and earn parents’ trust with reliable and wholesome products for their children.

How did Anushka Sharma come on board as a brand ambassador? 

We were in talks with various agencies, trying to find the perfect brand ambassador. But honestly, we never thought we could get someone like Anushka Sharma. It’s understandable to feel pleasantly surprised when a candidate you consider “out of your league” expresses interest in your brand. Sometimes, perceptions can limit our expectations. 

You hold an MBA from Harvard Business School, you’re a Rhodes Scholar from Oxford University, and have a degree in computer science engineering from Bangalore University. What was the best learning you had from these institutes and what did you have to unlearn?

I don’t know which school taught me this but throughout my life, I have emphasised the importance of maximising opportunities and not wasting time. I’ve learned that outcomes may not always be within our control, but we can focus on inputs and give our best effort. 

However, I can never forget the role of educational escapades. Each school had its special nuggets of wisdom to offer. While Harvard equipped me with the ability to break down problems, think critically, and analyse business scenarios, Oxford taught me to approach complex issues systematically.  My education in computer science engineering contributed to my understanding of technology and its applications, which can be valuable in today’s business landscape. 

What advice would you like to give young entrepreneurs? 

There are no secrets to success, trust me—I’ve searched high and low, and found none. All I can say is choose something you’re truly passionate about. Don’t hop on the bandwagon of what’s hot in the market. Sure, it might work for a lucky few but for most of us, true success comes from pursuing our deepest passions. Embrace the power of compounding, pursue your passions, and create a dream team that will stand the test of time. 

Slurrp Farm’s humble beginnings took shape 15 years ago at a  dinner between the ready-to-eat health food brand’s co-founders Meghana Narayan and Shauravi Malik

How do you balance motherhood and entrepreneurship?

I treat my daughter like an adult and involve her in my work. When I face challenges at work, I don’t hide them from her. She surprises me with her perspective, even suggesting tweaks to our products. We merge our personal and professional lives. For instance, when my daughter joined me on set for three ads, she learned much from the big productions. But let’s not kid ourselves—there are tough moments too, like being away from our children or receiving tearful calls. There’s no secret formula. Balancing motherhood and entrepreneurship is a day-by-day adventure. 

How does your company promote employees, and do you have any initiatives in place to empower women?

With our leadership team being 80 per cent women, we prioritise hiring high–calibre talent. Throughout the rest of the company, we maintain a balanced gender ratio with a 50-50 representation.

Each team member, from the juniormost to myself, has clear targets to achieve on a quarterly and annual basis. Performance is measured based on these targets and feedback received from the team. While we recognise that perfection is elusive, we try to foster an inclusive environment.

"It all started with a personal experience. As a concerned parent, I couldn’t find suitable food options that I felt comfortable feeding my child," says Narayan

Their portfolio ranges from puffed snacks, millet pancake mix, spinach multigrain dosa mix, and cereals to cookies, foxtail millet noodles, chia seeds-oats porridge and other nourishing snacks

Is there a misconception you had about CEOs before you became one? 

None. I have been an advisor to CEOs my whole career, so I knew the drill. CEOs often feel as lonely as that last slice of pizza at a party. Everyone’s eyeing it, but no one wants to grab it. Luckily for me, I teamed up with Shauravi as co-CEO founder. We’re attached at the hip, constantly discussing, and debating ideas, and our brains seem to generate one answer together. We’ve got a stellar leadership team too, taking some weight off our shoulders. So, the moral of the story—hire the right folks, surround yourself with awesome people, and you won’t feel like that abandoned slice of pizza. 

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