Wow! Momo Foods, a popular Indian fast-food chain, has secured ₹835 crore (approximately $10.2 million) in debt funding from Stride Ventures. The company plans to use this capital to support its expansion across multiple channels.
Wow! Momo aims to strengthen its presence in dine-in restaurants, delivery services, and the fast-moving consumer goods (FMCG) market. The company’s brand portfolio includes Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi.
With the new funding, Wow! Momo intends to grow its FMCG business to ₹100 crore ($12.05 million) and expand its HoReCa segment, which covers hotels, restaurants, and catering.
Currently, Wow! Momo operates more than 700 company-owned outlets in over 70 cities across India. The company plans to enter 100 additional cities and aims to reach over 1,500 stores within the next three years.
Earlier, in January 2024, Wow! Momo raised $49 million from Malaysia’s sovereign wealth fund, Khazanah Nasional Berhad.
This investment included a primary capital infusion and a secondary purchase of shares from early investors such as Indian Angel Network and Lighthouse Funds.
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