Wow! Momo Foods, a Quick Service Restaurant (QSR) chain, has raised ₹75 crore in fresh funding from veteran investor Madhusudan Kela, the founder of asset management company Singularity AMC.
The fresh funds raised will be used to support Wow! Momo’s next phase of growth will be with continued focus on disciplined expansion, product innovation, and strengthening its path to profitability.
Founded in 2008 by Sagar Daryani and Binod Homagai, the Kolkata-based Wow! Momo Foods runs 4 brands Wow! Momo, Wow! China, Wow! Chicken and Wow! Kulfi.
The company currently operates over 800 self-owned stores across 80+ cities.
Wow! Momo closed last fiscal FY 25 at a revenue of appx ₹640+ crore, growing over 30% Y-O-Y; FY26, the brand is in a strong position to achieve the ₹850 crore mark. With a double-digit SSSG and a growth of over 40% Y-O-Y.
The Company plans to enter more than 100 cities and look at a footprint of over 1500 stores in the next two years. Along with its QSR fortification, it has also forayed & fortified its position in the FMCG sector along with its QSR vertical.
“This investment is a strong validation of our long-term vision to build a large, enduring QSR company from India. Madhusudan Kela’s belief in our journey strengthens our conviction to scale faster, innovate deeper, and continue building a brand that Indians love and trust,” said the founding team in a statement.
