Wow! Momo bags USD 15 Mn in series C funding by Tree Line Investment

The company is planning to set up over 150 stores and 50 cloud Kitchens as well as grow 2x plus on monthly run rate by next August.
  • Nusra Deputy Features Editor
Wow! Momo

Wow! Momo Foods has raised over USD 15 Million led by Tree Line Investment Management.

The funding round also saw participation from IAN Fund (Indian Angel Network), as well as existing investor Lighthouse Funds., which currently owns and operates two of the country’s largest home-grown QSR brands - Wow! Momo and Wow! China.

Also Read: QSR Chain WOW! Momo enters RTE segment, to tap WFH customers

“When we started off with Wow! Momo & later Wow! China, we were confident about the potential that the market holds. We had a clear roadmap on first strengthening our restaurant business, followed by a foray into FMCG space,” shared Sagar Daryani, CEO & Co-Founder.

The fresh funds will enable to brand to amplify efforts on its newly launched FMCG business, add more energies to the expansion of its QSR & Cloud Kitchen brands and also fuel its growth in launch of its new verticals to be announced soon.

“Wow Momos has demonstrated a keen focus on delighting Indian consumers with both taste and value. As India is rapidly emerging from covid, we are enthusiastic about their growth plans both in the QSR and ready to eat category. We are excited to join Wow Momos on their path for growth, and wish them well in this next chapter of their story,” added Zaheer Sitabkhan, Founder of Tree Line Investment Management.

Launched in August 2008, the multi-billion-rupee QSR chain currently is present across 350 + outlets of Wow! Momo and 50+ outlets of Wow! China.

May Interest: Wow! Momo launches its new brand Wow! CHINA

The company is planning to set up over 150 stores and 50 cloud Kitchens as well as grow 2x plus on monthly run rate by next August.

Wow! Momos has revolutionized the QSR space since the start and now redefining the FMCG sector,” pointed Rochelle Dsouza, Managing Director Lighthouse Funds.

The latest Series C funding has made Wow! Momo Foods the most valued home-grown QSR brand with a valuation of over INR 1225 Crores. This is a formidable leap from its last valuation of 860 Crores in September 2019 when it raised money from Tiger Global. With the fresh funding, the company is now geared towards crafting the story of Wow 2.0 post its latest pivot.

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