Quick-service restaurant chain Wow! Momo Foods has raised ₹85 crore as debt investment from Stride Ventures. The company aims to utilise the investment to advance its omnichannel strategy, expanding its presence across dine-in, delivery and FMCG verticals. The debt will be used for refinancing the existing loans.
Founded in 2008, the Kolkata-based Wow! Momo Foods’ portfolio includes brands like Wow! Momo, Wow! China, Wow! Chicken and Wow! Kulfi.
“Stride Ventures’ support marks a pivotal moment in our journey of redefining Indian QSR. With their partnership, we aim to scale new heights, introduce new formats and continue building brands that India can be proud of,” said Sagar Daryani, Co-founder and CEO of Wow! Momo added.
The company currently operates over 700 self-owned stores across 70+ cities. The group is also planning to scale-up its FMCG vertical to ₹100 crore and ramp up the newly launched HORECA arm this year.
Apoorva Sharma, Managing Partner, Stride Ventures, commented on the partnership, “Wow! Momo is a reflection of India’s evolving consumer story. Their passion for innovation and scale makes them a standout player in the food services sector. We are proud to support their journey as they continue to bring their culinary creations to every corner of the country.”
Wow! Momo, together with Wow! China, Wow! Chicken & Wow! Kulfi aims to enter more than 100 cities and look at a footprint of over 1,500 stores in the next three years.
(With Inputs from BL Intern Rohan Das)