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Wow! Momo Foods, which owns and operates two quick-service restaurant brands Wow! Momo and Wow! China, has raised $23 million from New York-based Giant Tiger Global.
Following the investment, the restaurant chain is now valued at $120 million (Rs 860 crore).
“This partnership is a big step forward in our endeavour to become an Indian-origin QSR chain with an aim to go global in times to come. We will use the capital infused to further scale our operations backed with disruptive research and development to reach out to a larger consumer base within the country,” Sagar Daryani, CEO & Co-founder of Wow! China/Wow! Momo said.
The company is currently clocking a monthly run rate of over Rs 15 crore per month and opening over 10 new stores every month.
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