Wow! Momo Secures Significant Bridge Funding

Wow! Momo has successfully raised between Rs 130 and 150 crore in a bridge funding round spearheaded by Kamal Agrawal from the Haldiram promoter family alongside the Malaysian investment fund Khazanah Nasional. The development was initially reported by the Economic Times, which noted that the funding has been structured via convertible notes, with the company’s valuation set to be determined in an upcoming funding round.

The Kolkata-based quick service restaurant chain is gearing up to raise approximately $75 to $80 million (around Rs 600 to 700 crore) during its next funding phase, which is anticipated to conclude between October and December of 2025.

To date, Wow! Momo has accumulated over Rs 600 crore in funding, which includes $42 million (Rs 350 crore) raised during its Series D round led by Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia.

Participating in the current funding round are family offices and high-net-worth individuals. Kamal Agrawal has previously been associated with the Nagpur division of Haldiram, which has since merged with its Delhi branch.

Brands and Expansion Plans

Wow! Momo operates through four distinct brands: Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. The chain currently boasts 680 outlets and aims to expand by adding an additional 200 to 250 locations by next year.

Financial Performance of Wow! Momo

According to multiple sources, Wow! Momo’s revenue from operations climbed to Rs 470 crore in the previous fiscal year, up from Rs 413 crore in FY23. However, the company continued to report stable losses amounting to Rs 114 crore in FY24.

Additionally, Wow! Momo is enhancing its FMCG segment, with frozen momos achieving Rs 5 crore in monthly sales, primarily through rapid commerce platforms.