PremiumNenu Super Woman on OTT: Meet scientist-turned-entrepreneur Suma Latha, founder of Meechu, who secured a Rs 30 lakh deal
The formulation scientist, with her research experience and corporate stint, established the successful baby care brand Meechu
Last Updated: 02.29 PM, Aug 28, 2023
The beauty of aha’s non-fiction show Nenu Super Woman is its celebration of entrepreneurial spirit through the eyes of a woman, telling the story of how she moves past her various struggles, attains work-life balance while establishing a successful brand. The seventh episode of the show, hosted by Sreerama Chandra, focused on such success story - Dr Suma Latha, the founder of Meechu, an upcoming baby care brand.
Suma Latha, the brain behind Meechu, is a formulation scientist by qualification with a long stint in the corporate sector. With her understanding of the inner workings in pharmaceutical companies and her research experience, knowledge she acquired over the years, Suma Latha established her baby care brand in 2021, that offers a wide range of products to ensure good health of newborns.
From rash-free diapers to baby soaps, lotions and wet wipes, Meechu caters mainly to the semi-urban market. Within two months into their entry in Rajahmundry, they could generate Rs 2-3 lakh worth business. Focusing on the diaper, Suma Latha said that they don’t use processed cotton, which leads to rashes among babies.
The USP of the products is affordability - the difference between the pricing of Meechu and the multinational company products is as high as 30-35%. The fact she’s dealing with the business herself and has little expenses otherwise has helped her reduce the costs. The customer retention rate is impressive at 80%. Meechu’s sales happen via online platforms, supermarkets and hypermarkets.
Suma Latha asked for an investment of Rs 30 lakh for 3% equity from the Angels. After a heated round of negotiations, Dr Sindhura Narayana and Sridhar Gadhi agreed for an investment for the same sum, but for 10% equity. Deepa Reddy Dodla agreed to help the businesswoman with her distribution connections at e-commerce platforms like Amazon.