PE-VC Fund Investments
QSR chain Wow! Momo Foods raises $8.5 M led by 360 ONE
Kolkata-based quick-service restaurant chain Wow! Momo Foods has raised INR 75 crore (about USD 8.5 million) in its ongoing Series D round led by 360 ONE, with the participation from Kyrush Investments.The company has allotted 7,837 Series D6 Compulsorily Convertible Preference Shares (CCPS) at INR 95,699 per share. 360 One led the round by infusing INR 70 crore for a 2.53% stake, while Kyrush Investments will invest INR 4.99 crore and will own 0.18%.Founded in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates brands like Wow! Momo, Wow! China, Wow! Chicken and Wow! Kulfi, with over 700 self-owned stores across 70+ cities. The new funds will be used for working capital requirements and general corporate purposes.
Between Jun 2017 and Jun 2025, Wow Momo had attracted about USD 151 M from IAN Fund, Lighthouse, Anicut Capital, Tiger Global, Tree Line Asia, Khazanah Nasional, OAKS, Z3Partners and Others.For FY24, Wow Momo had reported about INR 470 Cr in Operating Income and about INR 114 Cr in Net Loss.
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