Quick-service restaurant chain Wow! Momo Foods has raised ₹85 crore in debt funding from Stride Ventures as it pushes to widen its reach across India and diversify its operations beyond traditional dine-in and delivery formats.
The Kolkata-headquartered company, known for reinventing the humble momo into a mainstream staple, intends to channel the funds into strengthening its existing presence and building new revenue lines in the FMCG and HORECA (hotels, restaurants, catering) sectors. This move comes at a time when the Indian food services space is seeing slower consumer spending and margin pressures driven by food aggregators.
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Currently operating more than 700 company-owned outlets across 70+ cities, Wow! Momo has ambitious plans to cross the 1,500-store milestone and enter over 100 Indian cities in the next three years. Alongside its original offering, the brand now houses sub-brands like Wow! China, Wow! Chicken, and Wow! Kulfi—all aimed at creating a full-stack food empire.
Despite headwinds, the brand has managed to retain solid unit economics and strong customer loyalty. Its performance in same-store sales reportedly rivals that of global QSR majors, making it a rare homegrown player to watch.
“Wow! Momo is building a truly scalable Indian QSR story,” said Apoorva Sharma, Managing Partner at Stride Ventures. “Their ability to innovate and execute at speed makes them an exciting partner.”
Co-founder and CEO Sagar Daryani added, “This partnership with Stride helps us accelerate our vision to take Indian fast food to every corner of the country.”
