Wow! Momo, the popular quick-service restaurant chain, has raised an additional $9 million in its Series D round, bringing its total Series D funding to $51 million. The investment comes from Z3 Partners, bolstering Wow! Momo’s position for accelerated growth and expansion.
The recent funding round, including primary and secondary investments, underscores investor confidence in Wow! Momo’s business model and growth trajectory. Notable participants in the secondary purchase include Indian Angel Network and Lighthouse Funds, further validating the company’s market potential.
It already secured $42 million in the first tranche of Series D funding earlier this year, led by Khazanah Nasional Berhad. Wow! Momo continues to attract substantial investment, reflecting its robust performance and promising outlook.
With a strategic focus on its quick-service restaurant brand and the burgeoning FMCG segment, Wow! Momo plans to utilize the fresh capital to fuel its expansion initiatives and bolster its distribution networks. Additionally, investments in research and development will enhance the company’s product offerings and innovation capabilities.
Founded by Sagar Daryani & Binod Homagai, Wow! Momo Foods operates three distinct QSR brands—Wow Momo, Wow China, and Wow Chicken—enjoying a widespread presence with 630 outlets across 38 cities and 6,000 employees.
Looking ahead, Wow! Momo is poised for aggressive expansion, aiming to add 200 more outlets during the current fiscal year (FY25). With ambitious revenue targets of Rs 650-700 crore for FY24, the company is on track to significantly surpass its previous fiscal year’s performance, driven by robust growth in revenue from operations.
As Wow! Momo continues to scale its operations and diversify its offerings; its trajectory in the competitive food and beverage industry remains one to watch. It is fueled by innovation, strategic investments, and a commitment to delivering exceptional customer experiences.
