Wow! Momo Bags Funding Deal Worth ₹150 Crore
The Indian food industry has been witnessing a surge in funding deals, and the latest news from Kolkata-based chain Wow! Momo is no exception. According to reports, Wow! Momo is raising ₹130-₹150 crore in its bridge funding round, with Haldiram promoter Kamal Agrawal and Malaysia’s wealth fund Khazanah Nasional leading the round. Besides, a clutch of family offices and high-net-worth individuals are expected to participate in the fundraise.
This significant funding deal is a testament to Wow! Momo’s rapid growth and expansion plans. The company, which was founded in 2000, has been a pioneer in the momos (Tibetan dumplings) segment in India. With its unique flavor profiles and high-quality ingredients, Wow! Momo has managed to carve out a niche for itself in the competitive food industry.
The funding deal is expected to be used to fuel Wow! Momo’s expansion plans, both in terms of new store openings and geographic expansion. The company currently has over 150 outlets across India, and with this funding, it plans to increase its presence in the country and also explore international markets.
The bridge funding round is a significant milestone for Wow! Momo, and it marks the company’s entry into the big league of Indian food startups. The funding deal is expected to give Wow! Momo the necessary resources to scale up its operations and take on the competition in the Indian food industry.
Wow! Momo’s success story is an inspiration to many entrepreneurs in the food industry. The company’s founders, Sagar Daryani and Binod Kumar Agrawal, had a vision to popularize momos in India, and they have successfully executed it over the years. Their innovative approach to marketing and branding has helped Wow! Momo build a strong brand presence in the country.
The company’s success can be attributed to its focus on quality and consistency. Wow! Momo uses high-quality ingredients and has a strict quality control process in place to ensure that its products meet the highest standards. This focus on quality has helped Wow! Momo build a loyal customer base, and it has also enabled the company to expand its offerings beyond momos to include other Tibetan dishes.
The funding deal is also a testament to the confidence that investors have in Wow! Momo’s business model. The company’s founders have a deep understanding of the Indian food industry, and they have successfully navigated the challenges of starting and scaling a food business in the country. This expertise, combined with Wow! Momo’s strong brand presence and commitment to quality, makes it an attractive investment opportunity for investors.
The funding deal is also expected to create new job opportunities in the food industry. Wow! Momo plans to use the funding to increase its headcount, and this is expected to create new job opportunities for people in the food industry. The company’s expansion plans are also expected to create new business opportunities for its suppliers and partners.
In conclusion, Wow! Momo’s funding deal is a significant milestone for the company and the Indian food industry as a whole. The funding deal is expected to fuel the company’s expansion plans and help it take on the competition in the Indian food industry. With its focus on quality and consistency, Wow! Momo is well-positioned to become a leading player in the Indian food industry, and this funding deal is expected to take the company to new heights.
Source:
https://inc42.com/buzz/wow-momo-raising-up-to-inr-150-cr-from-khazanah-others-report/
