Renowned Quick service restaurant chain Wow! Momo has lifted Rs. 70 crore (approximately $9 million) in an extended Series D round from Z3 Partners. Totaling the funds, the company has successfully raised Rs. 480 crore ($51 million) in Series D which includes Rs. 270 crore primary and Rs.210 crore secondary.

Media reports are saying, Indian Angel Network and Lighthouse Funds participated in the secondary purchase of the company. The QSR startup brand grabbed Rs. 350 crore or approximately $42 million in the first tranche of Series D round led by Khazanah Nasional Berhad in January this year.

The estimation of the startup data intelligence platform TheKredible, the company was valued at over $300 million after this funding injection. This newly raised fund will be utilized in growth and expansion of the quick service restaurant brand, strengthening the distribution and research and development for the FMCG arm. The firm entered in the FMGC segment in July 2021.

The company was established by Sagar Daryani & Binod Homagai. 16 years have passed, that they have started their entrepreneual journey and now they introduced two more brands called Wow China and Wow Chicken. The firm claims to have 630 outlets across 38 cities and directly employs 6,000 people. The company will introduce 500 more outlets in this ongoing financial year.

Wow!Momo is targeting to reach Rs. 650-700 crore within this fiscal year (FY24) from Rs. 435 crore in FY23. While the firm is yet to file its financial statements for the last fiscal year (FY23), its revenue from operations grew two-fold to Rs 220 in FY22 from Rs. 106 crore in FY21.