Private Equity

VC Fund Investments

QSR chain Wow! Momo raises over $15-M in Series C from Tree Line, IAN Fund, Lighthouse

Business Standard  

Tiger Global-backed QSR brand Wow! Momo Foods has raised USD 15 million in a Series C funding round led by Tree Line Investment Management. The funding round also saw participation from IAN Fund as well as existing investor Lighthouse Funds. The fresh funds will be used to grow the firm's newly launched FMCG business and expand its QSR cloud kitchen brands. The Series C funding round values the QSR brand at over INR 1,225 crore. It was valued at INR 860 crore in September 2019 when it raised capital from Tiger Global. Wow! Momo Foods operates two QSR brands - Wow! Momo and Wow! China. Launched in August 2008, the QSR chain operates 350 outlets of Wow! Momo and more than 50 outlets of Wow! China.