Wow! Momo Foods Raises INR 90 Cr in Bridge Round from Existing Investor Khazanah, Haldiram’s Owner Kamal Agarwal

Wow! Momo has raised a bridge round funding of INR 90 Crores from its existing investor Khazanah, the Malaysian sovereign Fund and Haldiram’s Nagpur owner Kamal Agarwal. 

The company is also in talks with a few key HNIs / investors to take this bridge round to a total of INR 120 to 150 Crores.

Confirming the news, Sagar Daryani, CEO and Co-Founder, Wow! Momo Foods mentioned “It’s in process…not closed yet. Feels Wow! indeed. Having a stalwart like Kamal ji back us is a game-changer – it’s not just capital; it’s deep-rooted experience in the FMCG and QSR space which he brings with him. The belief our existing investor Khazanah has on us and their magnitude of input only gives us more power to lead.”

The company has also appointed Avendus as bankers for a larger round of USD 80 to 100 Mn as mix of primary & secondary to be raised later this year in H2 of 2025. 

Wow! Momo closed last fiscal FY 25 at a revenue of appx INR 640 plus crores growing over 30% as compared to the last Fiscal; this FY the aim is to touch the INR 850 to 900 Crores mark. Profitability focus, expanding the footprint of QSR, Wow! Plans to open 250 more stores this year. 

The group is also planning to scale-up its FMCG vertical to INR 100 Crores and ramping up of the newly launched HORECA arm this year. 

Launched in August 2008, Wow! Momo Foods is a multi-billion-rupee quick service restaurant (QSR) currently Wow! Momo Foods operates over 680 outlets of Wow! Momo, Wow! China, Wow! Chicken and the newly launched Wow! Kulfi spread across 60 plus cities 

Wow! Momo, together with Wow! China, Wow! Chicken & Wow! Kulfi aims to enter more than 100 cities and look at a footprint of over 1500 stores in the next 4 years. With FMCG & HORECA verticals owing a golden high-ground in their own way; Wow! is all set for a high decibel growth & action in the next 24 to 36 months.