QSR chain Wow! Momo raises $9-M from ValueQuest

Kolkata-based quick service restaurant (QSR) chain Wow! Momo has raised INR 75 crore (about USD 9.1 million) as a part of Series D round from ValueQuest Capital. Wow! Momo would issue 7,990 Series D1 CCPS at an issue price of INR 93,867 per share. Post-allotment, the company has been valued at around USD 340 million. ValueQuest Capital now holds 3.21% while Tiger Global remains the largest external shareholder with a 14.08% stake followed by Lighthouse and Treeline Investment. The company's co-founders Sagar Daryani and Binod Homagai cumulatively command more than 30% of the firm. Launched in 2008, Wow! Momo Foods operates three QSR brands—Wow! Momo, Wow! China and Wow! Chicken. The firm has 620 outlets across 32 cities and employs 6,000 people.