Wow! Momo Secures Rs 75 Crore in Series D Funding

Wow! Momo, a prominent quick service restaurant chain, is poised to raise an additional Rs 75 crore ($8.4 million) in its ongoing Series D funding round, with participation from Singularity AMC. This represents the company’s third funding effort in 2025, following a significant Rs 150 crore round led by Haldiram’s Kamal Agrawal, along with contributions from Khazanah and 360 One.

According to filings with the Registrar of Companies (RoC), Wow! Momo’s board has sanctioned the issuance of 7,838 Series D6 CCPS, priced at Rs 95,699 each, to secure the mentioned funds from Singularity AMC. As estimated by Startup Superb, the company’s valuation is projected to reach approximately Rs 2,838 crore ($316 million) on a post-money basis. The capital raised will be allocated towards expansion initiatives, addressing working capital needs, and general corporate purposes to enhance business growth.

Company Background and Expansion Plans

Founded in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo currently operates over 700 outlets in 17 cities. The brand boasts names like Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi, while maintaining a strong commitment to innovation and growth.

Funding History and Financial Performance

In terms of funding history, Wow! Momo has successfully raised more than $140 million to date. Notable among these efforts is a $42 million Series D round led by Khazanah in January 2024. Following the most recent funding round, Singularity AMC will hold a 2.64% equity stake in the company.

For the financial year FY24, Wow! Momo exhibited a year-on-year increase of 13% in operating revenue, with figures reaching Rs 470 crore, up from Rs 413 crore for the previous fiscal year. Meanwhile, the company’s losses have stabilised at Rs 114 crore. As of now, the financial results for FY25 have not yet been submitted.