According to reports, Wow! Momo has raised between Rs. 130 and Rs. 150 crore in a bridge funding round headed by Kamal Agrawal from the Malaysian fund Khazanah Nasional and the Haldiram promoter family.
The funding is organized through convertible notes, and the valuation will be determined in the next round, according to the Economic Times, which broke the news first.
In its next investment round, which is anticipated to conclude in the October–December quarter of 2025, the fast service restaurant business located in Kolkata plans to raise $75–80 million (about Rs. 600–700 crore), according to the report.
Wow! To date, Momo has raised more than Rs. 600 crore, including $42 million (Rs. 350 crore) in its Series D, which was led by Malaysia's sovereign wealth fund, Khazanah Nasional Berhad.
High-net-worth individuals and family offices are among the other investors in the current round. Agrawal was formerly associated with Haldiram's Nagpur unit, which subsequently amalgamated with its Delhi equivalent.
Wow! Momo has four brands under which it operates: Wow! Momo, Wow! China, Wow! Chicken and WoW! Kulfi. It currently has 680 locations and intends to open 200–250 more by the following year.
According to TheKredible, Wow! Momo's operating income increased from Rs. 413 crore in FY23 to Rs. 470 crore in the most recent fiscal year. In FY24, their losses were consistent at Rs. 114 crore.
With frozen momos bringing in Rs. 5 crore a month, mostly from fast commerce platforms, the company is also expanding its FMCG sector.
