Wow! Momo Secures Additional $9 Million in Extended Series D Funding

SUMMARY

🥟 Wow! Momo secures $9 million from Z3 Partners, extending Series D to $51 million, showcasing investor confidence.

🥟 Founded by college friends Sagar Jagdish Daryani and Binod Kumar Homagai, Wow! Momo began with ₹30,000, becoming a Kolkata favorite with fresh, affordable momos.

🥟 Wow! Momo expands to 630+ outlets, launching new brands like Wow! China and Wow! Chicken, aiming for Rs 650-700 crore in the current fiscal year, poised for further growth.

In a move that has many foodies salivating, popular quick-service momo chain Wow! Momo has secured an additional $9 million in funding, extending their Series D round. This latest investment comes from Z3 Partners, bringing the total Series D capital raised to a whopping $51 million (Rs 480 crore).

From College Dorm to Momo Empire: A Bite-Sized Look at Wow! Momo's Rise

The story of Wow! Momo is a delicious tale of friendship and entrepreneurial spirit. Founders Sagar Jagdish Daryani and Binod Kumar Homagai, who met as undergraduates at St. Xavier's College, weren't just classmates, they were also momo enthusiasts. In 2008, at the young age of 21, armed with a shared passion and a modest investment of ₹30,000, they embarked on a culinary adventure.

From Humble Beginnings to Big-Ticket Investors

Their first venture was a small stall serving momos, a popular Himalayan dumpling. What started as a college experiment quickly gained a loyal following, thanks to their focus on fresh ingredients, innovative flavors, and a commitment to affordability. Word spread quickly, and Wow! Momo soon became a household name in Kolkata.

A Recipe for Success: Expansion and Innovation

Over the years, Wow! Momo has shown no signs of slowing down. They've expanded their presence across India, with over 630 outlets in 38 cities, directly employing a workforce of 6,000 people. They've also diversified their offerings, launching new brands like Wow! China and Wow! Chicken under the Wow Eats multi-brand format.

The Future's Looking Steamy: Continued Growth and Investor Confidence

This recent investment by Z3 Partners, following an initial $42 million tranche secured in January 2024, underscores the confidence investors have in Wow! Momo's future. The company's ambitious goal of reaching a topline of Rs 650-700 crore (approximately $86 million) in the current fiscal year is a testament to their commitment to growth.

With a focus on convenience, affordability, and delicious flavors, Wow! Momo is well-positioned to capitalize on the rising demand for quick-service meals in India. With their sights set on further expansion and innovation, Wow! Momo is sure to keep serving up momo magic for years to come.