This interview originally appeared in the DealStreetAsia DATA VANTAGE report Female Founders in India 2024.
Five years ago, the conversation was about breaking barriers. Today, women founders are scaling businesses, securing capital, and leading from the front. The shift is real—investors are backing strong businesses and founders are proving that success is driven by vision and execution, say Shauravi Malik and Meghana Narayan, co-founders, Wholsum Foods.
“Biases haven’t disappeared overnight, but change doesn’t come from waiting for permission. It comes from showing up, delivering results, and redefining what’s possible—and women entrepreneurs are doing just that!,” they said in an interview for DealStreetAsia’s recent report titled Female Founders in India 2024.
Elaborating on gender-based biases at the workplace, they said: “In the very early days, we did notice some hesitation from men about working at our company. But persistence is everything—we’ve had many conversations (including with parents and family members!) to change perceptions. That said, some of this is just part of the course for small startups. As you scale and raise capital, the dynamic shifts entirely.”
Wholsum Foods, the parent company of Slurrp Farm, raised $7.2 million in its Series C funding round in January last year, led by Alkemi Growth Capital and Narotam Sekhsaria’s family office. The round also saw participation from Fireside Ventures, Sharrp Ventures, Raed Ventures, and Madhurima International.
Edited excerpts from the interview:
What inspired you to start your own business, and how did you identify the gap in the market?
Our journey to starting our own business was inspired by a simple yet pressing need. We were searching for healthy, tasty, and easy-to-make food options for our kids. As working moms, we wanted something that checked all the boxes—nutritious, convenient, and delicious—but nothing quite met our expectations. Conversations with other parents showed us we weren’t alone in this struggle. So, we decided to create it ourselves! Drawing inspiration from the wholesome meals our mothers and grandmothers used to make, we revived the goodness of millet in a way that’s both delicious and convenient for today’s families.
Along the way, we discovered something surprising—many adults were enjoying our products too! This led us to create our second brand, Mille. With the same millet goodness, Mille offers fiber- and protein-rich products designed to meet the nutritional needs of today’s adults and families.
How did you go about securing funds for your venture? What were the major challenges in raising capital?
We secured our first round of funding from angel investors and a network of people who believed in our vision. They either connected us with the right investors or invested themselves, driven by the strong belief in the nutrition gap we were addressing.
“One of the challenges in raising capital was convincing investors that health food could thrive in a price-sensitive market like India.”
One of the challenges in raising capital was convincing investors that health food could thrive in a price-sensitive market like India. At the time, there was very little consumer awareness about the importance of healthy, nutritious food options. The concept was still relatively new, and the industry was in its nascent stages. Millets were not as cool as they are today. This made convincing people a challenge because it wasn’t just about having a great product—we also had to do the groundwork, educate the market, and shift perceptions that healthy can be tasty and convenient too. But, our unwavering belief in the mission and the trust we built with our investors and partners helped us push forward and overcome those challenges.
Do you think having male co-founders made a difference in your fundraising journey?
It’s a question that comes up often, though you rarely hear the reverse—no one asks male founders if having a female co-founder would have changed their fundraising journey! The reality is that building a company is about vision, resilience, and execution, not gender. We have a male co-founder, Umang Bhattacharya, who shapes our creative vision. Ironically, people often assume he handles the financial side! Our investors—both angel and institutional—backed us for our strengths, expertise, and the problem we’re solving, not because of, or despite, gender.
“No one asks male founders if having a female co-founder would have changed their fundraising journey!”
In the current environment, when funding is difficult to secure for most startups, do female founders find it tougher to raise capital?
The data on this is quite stark—female-founded companies consistently outperform in scale and profitability, yet fundraising remains an uphill battle. That said, we’re seeing real momentum. More women founders are not just starting up but scaling successfully, proving that great businesses attract capital.
Change is happening, and while the shift may be gradual, it’s clear that investors are recognising the strength and impact of women-led businesses. Fireside Ventures is particularly ahead of the curve here, and they have invested in many female-led businesses.
“Investors are recognising the strength and impact of women-led businesses.”
Do you think investors tend to have different expectations or standards for female founders versus male founders? Can you share any specific questions that are typically asked of female founders?
At the end of the day, all investors measure founders by one key metric: return on investment (ROI). We have never lost sight of that. As custodians of investor capital, we take that responsibility seriously, and in our experience, the expectations from us have always been rooted in performance, not gender. We’ve also been intentional about who we take funding from. If the alignment isn’t there—whether in values, approach to business, or even perspectives on gender—it’s not the right fit. That instinct has likely helped us sidestep gendered questions because we’ve chosen to build alongside investors who truly back our vision.
At the end of the day, all investors measure founders by one key metric: ROI.
Have you ever experienced any gender-based biases in your journey as an entrepreneur? How did you address or deal with them?
In the very early days, we noticed some hesitation from men about working at our company. But persistence is everything—we’ve had many conversations (including with parents and family members!) to change perceptions. That said, some of this is just part of the course for small startups. As you scale and raise capital, the dynamic shifts entirely. We dealt with it by staying thick-skinned and pragmatic. We just got in with it.
Have things become any easier for women founders today than, say, five years back?
Five years ago, the conversation was about breaking barriers. Today, women founders are scaling businesses, securing capital, and leading from the front. The shift is real—investors are backing strong businesses, and founders are proving that success is driven by vision and execution. Biases haven’t disappeared overnight, but change doesn’t come from waiting for permission. It comes from showing up, delivering results, and redefining what’s possible—and women entrepreneurs are doing just that!
What were some key mistakes or learning moments you encountered in the initial years?
This is probably the case for many founders, regardless of gender. In the early days, we gave everyone really great job titles. And it was very difficult to deal with the aftermath of that. When people you care for and have built the business with you, and could have been in the business for very long, leave because you bring in senior leadership and titles need to change, it does cause an upheaval.
As a woman founder, do you feel there are unique qualities you bring to leadership that might differ from your male counterparts?
Leadership isn’t about gender—it’s about perspective. Many women founders lead with a deep sense of empathy, not as a ‘soft skill,’ but as a powerful driver of culture and innovation. When people feel heard and valued, they think bigger, take bolder risks, and bring their best ideas forward. Creating that kind of environment has helped us enable both creativity and a strong business.
“Leadership isn’t about gender—it’s about perspective.”
How do you manage the balance between your personal life and the demands of being a founder? How important is it to have a support system (family, mentors, peers, etc)?
Building a company is a lot like raising a child—it takes a village. Family, friends, mentors, and peers make all the difference when the demands pile up. There’s no perfect formula for balance; some days, work needs you more, and other days, life does. What matters most is being fully present in the moments that count, whether that’s in a meeting or at the dinner table.
What would be your key piece of advice to women who want to start their own businesses in India today?
There’s no playbook for building a business, but a few things have made all the difference for us:
Anchor yourself in purpose. The journey is long and unpredictable, but when you’re solving a problem you deeply believe in, it keeps you going—especially on the hardest days.
Choose your co-founder wisely. This is one of the most important decisions you’ll make. A great co-founder isn’t just someone who shares your vision, but someone you trust implicitly. Because there will be moments when you need to lean on each other completely.
Get comfortable with risk. Some of the best decisions we’ve made started as leaps of faith. You don’t have to have every answer, but you do need the conviction to take the next step, even when the outcome isn’t certain.
Build a network that backs you. From mentors to peers, surround yourself with people who challenge and support you. The right conversations at the right time can change everything.
