Quick service restaurant operator Wow! Momo Foods has raised ₹75 crore in a new tranche of its ongoing Series D round, according to regulatory filings. The funding is led by 360 ONE, which is contributing ₹70 crore, while Kyrush Investments is adding nearly ₹5 crore.
The Kolkata-headquartered company, founded in 2008 by Sagar Daryani and Binod Homagai, has already attracted more than ₹650 crore in Series D capital, including ₹85 crore raised through debt financing from Stride Ventures earlier this year. With the fresh allotment of 7,837 Series D6 compulsorily convertible preference shares priced at ₹95,699 each, Wow! Momo’s valuation is pegged between $315 million and $320 million, according to Entrackr estimates.
Filings show that 360 ONE will now hold a 2.53 percent stake, while Kyrush Investments will own 0.18 percent in the company. The board has earmarked the new funds for capital expansion, working capital needs and general corporate purposes.
Wow! Momo currently operates more than 700 outlets across 70 cities, spanning brands such as Wow! Momo, Wow! China, Wow! Chicken and Wow! Kulfi. The company has outlined plans to double its presence to 1,500 outlets across 100 cities within three years. It is also betting on scaling its FMCG vertical to ₹100 crore in revenue and building a stronger HORECA business.
According to TheKredible, Wow! Momo reported revenue from operations of ₹470 crore in FY24, up 13 percent from ₹413 crore in FY23. Net loss for FY24 stood at ₹114 crore, broadly unchanged from the previous year.
The latest investment underlines investor confidence in India’s fast-growing QSR market, where homegrown chains are competing aggressively with global brands for share of wallet and real estate.
