Wow! Momo’s Capital Feast: ₹130 Cr Boost Fuels Aggressive Expansion and FMCG Ambitions

Unknown Apr 02, 2026 1,000 Views

Wow! Momo, India’s leading quick-service restaurant (QSR) chain, has secured a fresh bridge funding round of ₹130–150 crore, led by Kamal Agrawal of the Haldiram promoter family and Malaysian sovereign wealth fund Khazanah Nasional. This investment, structured via convertible notes, comes at a pivotal time as the Kolkata-based brand accelerates its national footprint and diversifies into the fast-moving consumer goods (FMCG) sector.

Key Highlights:

The funds will power Wow! Momo’s plan to open 200–250 new outlets across India within the next year, adding to its current network of 680 stores under four brands: Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi.
A significant portion of the capital will also fuel the expansion of its frozen momos and packaged foods business, which already generates ₹5 crore in monthly sales via quick commerce platforms.
The bridge round saw participation from family offices and high-net-worth individuals, reinforcing investor confidence in the brand’s omnichannel growth strategy.
Wow! Momo’s revenue rose from ₹413 crore in FY23 to ₹470 crore in FY24, with net losses holding steady at ₹114 crore as the company prioritizes aggressive expansion.

The company is eyeing a much larger $75–80 million (₹600–700 crore) fundraise in late 2025, with the current round’s valuation to be finalized during that event.

Founder Sagar Daryani highlighted ambitions to scale the FMCG vertical to ₹75 crore annual revenue, leveraging both retail and digital channels.

Wow! Momo’s latest round underscores the QSR sector’s resilience and adaptability, even as leading food delivery platforms face growth headwinds.

This funding milestone sets the stage for Wow! Momo’s next phase—blending rapid QSR expansion with a bold push into India’s packaged food market.

Source: Entrepreneur India, Indian Startup Times, Economic Times

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Wow! Momo’s Capital Feast: ₹130 Cr Boost Fuels Aggressive Expansion and FMCG Ambitions

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