VC Fund Investments
QSR chain Wow! Momo raises Rs.150-Cr led by Haldiram’s promoters, Malaysia’s Khazanah: report
Kolkata-based quick service restaurant (QSR) chain Wow! Momo is raising INR 130-150 crore in a bridge funding round led by Haldiram’s promoter Kamal Agrawal and Malaysia’s sovereign wealth fund Khazanah Nasional. A clutch of family offices and high-net-worth individuals (HNIs) are also expected to participate in the fundraise.This funding is structured through convertible notes, with the valuation to be finalised in the next round expected to close by the third quarter of FY26, in which the firm is planning to raise USD 75-80 million.Founded in August 2008 by Binod Kumar Homagai, Sagar Daryani, and Shah Miftaur Rahman, Wow! Momo operates its flagship brand Wow! Momo, alongside other brands Wow! China, Wow! Chicken, and Wow! Kulfi. It currently operates 680 outlets and plans to add 200–250 more by next year.
Between June 2017 and Jan 2024, Wow! Momo had attracted about USD 140.96 M from Anicut Capital, Khazanah Nasional, Z3Partners, and others.For FY24, Wow! Momo had reported about INR 469.99 Cr in Operating Income and about INR 114.40 Cr in Net Loss.
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