Kolkata: Wow! Momo, a popular quick-service restaurant (QSR) chain, has successfully secured Rs 130-150 crore in a bridge funding round led by Kamal Agrawal from the Haldiram promoter family and Khazanah Nasional, Malaysia’s sovereign wealth fund. The funding was structured through convertible notes, with the valuation to be finalized in the upcoming round.
According to reports from Economic Times, Wow! Momo is planning to raise a substantial amount of $75-80 million (around Rs 600-700 crore) in its next funding round, which is expected to close in the October–December 2025 quarter. The funds will support the company’s expansion plans and further growth.
A Growing Investment Portfolio
This latest funding brings Wow! Momo’s total raised amount to over Rs 600 crore to date, including $42 million (approximately Rs 350 crore) from its Series D round led by Khazanah Nasional Berhad. The current round also saw participation from several family offices and high-net-worth individuals.
Kamal Agrawal, previously associated with Haldiram’s Nagpur unit, which later merged with Haldiram’s Delhi counterpart, played a key role in this bridge round. His involvement highlights the strong industry connections that Wow! Momo continues to leverage.
Expansion Plans and Revenue Growth
Wow! Momo, which operates under four brands – Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi – currently runs 680 outlets across India. The company has set ambitious goals to open 200-250 more outlets in the coming year, further strengthening its position in the fast-growing QSR market.
For the fiscal year 2024, Wow! Momo reported Rs 470 crore in revenue from operations, a significant increase from Rs 413 crore in FY23. However, the company’s losses remained steady at Rs 114 crore during FY24.
FMCG Sector Growth
In addition to its restaurant business, Wow! Momo is making significant strides in the FMCG sector. The company’s frozen momo products are generating Rs 5 crore in monthly sales, primarily through quick commerce platforms, helping diversify its revenue streams.
