Wow! Momo Crosses Huge Hurdle -Raises Rs. 130-150 Crore in Bridge Funding Round
It is reported thatWow! Momo has raised Rs. 130 to Rs. 150 crore in a bridge round, anchored by Kamal Agrawal of Malaysian fund Khazanah Nasional, supported by the Haldiram promoter family.
The funds were raised in terms of convertible notes, and valuation of the firm will be fixed in the future round of raising funds, The Economic Times, for the first time, revealed.
Kolkata-based fast-food restaurant chain plans to raise $75–80 million (around Rs. 600–700 crore) in its next round of funding, which is expected to come in October–December 2025.
So far, Wow! Momo has raised more than Rs. 600 crore and $42 million (Rs. 350 crore) of the Series D funds, led also by Khazanah Nasional Berhad.
The latest round of funding was participated by family offices and high-net-worth individuals. Agrawal had earlier partnered with Haldiram's Nagpur unit, which subsequently merged with Delhi's.
Wow! Momo is available in four brands i.e., Wow! Momo, Wow! China, Wow! Chicken, and WoW! Kulfi. The company is currently operational in 680 stores and will have another 200–250 stores operational next year.
As per TheKredible, Wow! Momo's operating profit increased from Rs. 413 crore in FY23 to Rs. 470 crore in the previous financial year, whereas their losses were constant at Rs. 114 crore in FY24.
Apart from that, the company is also expanding its FMCG business with frozen momos adding Rs. 5 crore per month primarily through quick commerce platforms.
The funds were raised in terms of convertible notes, and valuation of the firm will be fixed in the future round of raising funds, The Economic Times, for the first time, revealed.
Kolkata-based fast-food restaurant chain plans to raise $75–80 million (around Rs. 600–700 crore) in its next round of funding, which is expected to come in October–December 2025.
So far, Wow! Momo has raised more than Rs. 600 crore and $42 million (Rs. 350 crore) of the Series D funds, led also by Khazanah Nasional Berhad.
The latest round of funding was participated by family offices and high-net-worth individuals. Agrawal had earlier partnered with Haldiram's Nagpur unit, which subsequently merged with Delhi's.
Wow! Momo is available in four brands i.e., Wow! Momo, Wow! China, Wow! Chicken, and WoW! Kulfi. The company is currently operational in 680 stores and will have another 200–250 stores operational next year.
As per TheKredible, Wow! Momo's operating profit increased from Rs. 413 crore in FY23 to Rs. 470 crore in the previous financial year, whereas their losses were constant at Rs. 114 crore in FY24.
Apart from that, the company is also expanding its FMCG business with frozen momos adding Rs. 5 crore per month primarily through quick commerce platforms.
