Wow! Momo Raises INR 130-150 Cr to Fuel Aggressive National Expansion The Kolkata-based quick-service restaurant (QSR) chain plans to use the capital to scale its presence across India by opening 200–250 new outlets by next year and expanding its frozen momos segment.
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Wow! Momo has raised INR 130–150 crore in a bridge funding round led by Kamal Agrawal of the Haldiram promoter family and Malaysian sovereign wealth fund Khazanah Nasional.
The funds, structured via convertible notes, will support the company's aggressive expansion plans and bolster its fast-growing FMCG vertical.
The Kolkata-based quick-service restaurant (QSR) chain plans to use the capital to scale its presence across India by opening 200–250 new outlets by next year and expand its frozen momos segment, which already clocks INR 5 crore in monthly sales via quick commerce platforms.
Founded in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo started as a small momo kiosk and has since grown into one of India's most prominent QSR brands.
The company operates under four verticals: Wow! Momo (specialising in momos), Wow! China (Asian cuisine), Wow! Chicken (fried chicken), and Wow! Kulfi (traditional desserts). It currently runs 680 outlets across the country.
So far, Wow! Momo has raised over INR 600 crore, including a USD 42 million (INR 350 crore) Series D round led by Khazanah Nasional. The latest bridge round also saw participation from family offices and high-net-worth individuals. Agrawal, one of the key investors in this round, was earlier associated with Haldiram's Nagpur unit before its merger with the Delhi counterpart.
According to data from TheKredible, the company's revenue rose from INR 413 crore in FY23 to INR 470 crore in FY24. However, it continued to post losses of INR 114 crore in the last fiscal. Looking ahead, Wow! Momo aims to raise USD 75–80 million (INR 600–700 crore) in its next funding round, expected to close in Q3 FY26.
