Wow! Momo to Raise ₹75 Crore in Ongoing Series D Round Led by 360 ONE

Quick service restaurant (QSR) chain Wow! Momo Foods is in the process of raising ₹75 crore (around $8.5 million) as part of its ongoing Series D funding round. The round is being led by 360 ONE, with additional participation from Kyrush Investments.

This latest capital raise comes just three months after Wow! Momo secured ₹85 crore in debt funding from Stride Ventures, taking its total Series D fundraising to more than ₹650 crore.

Investment Structure and Valuation

As per filings with the Registrar of Companies (RoC), the company’s board approved the issuance of 7,837 Series D6 CCPS at an issue price of ₹95,699 per share.

360 ONE will invest ₹70 crore, while Kyrush Investments is contributing ₹4.99 crore.

Following this tranche, 360 ONE Portfolio will hold a 2.53% stake, and Kyrush Investments will own 0.18% in Wow! Momo.

The company’s post-money valuation is estimated at $315–320 million, according to Entrackr.

Growth and Expansion Strategy

The fresh proceeds from this ongoing round will be utilized for:

• Capital expansion to increase outlet presence
• Working capital requirements
• General corporate purposes

Founded in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo has grown into one of India’s most prominent QSR chains. Currently, it operates over 700 outlets in 70 cities and manages multiple sub-brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi.

The company has outlined ambitious targets, including:

• Expanding to 1,500 stores across 100 cities in the next three years
• Scaling its FMCG business to ₹100 crore
• Strengthening its HORECA (Hotels, Restaurants, Catering) division

Financial Snapshot

• According to startup intelligence platform TheKredible:
• Revenue from operations grew 13% year-on-year, reaching ₹470 crore in FY24, up from ₹413 crore in FY23.
• Losses remained steady at ₹114 crore in FY24.
• Financial performance for FY25 is yet to be disclosed.

Wow! Momo’s ongoing Series D fundraising highlights investor confidence in India’s growing quick service restaurant sector. With expansion plans across outlets, FMCG, and HORECA, the company aims to scale rapidly over the next few years while maintaining its position as a leading homegrown QSR brand.

FAQs

1. How much is Wow! Momo raising in its current round?

Wow! Momo is raising ₹75 crore in its ongoing Series D funding round led by 360 ONE with participation from Kyrush Investments.

2. What is Wow! Momo’s post-money valuation?

The company is valued at an estimated $315–320 million post-money.

3. How many outlets does Wow! Momo operate?

Currently, Wow! Momo operates over 700 outlets across 70 cities in India.

4. What will Wow! Momo use the fresh funds for?

The proceeds will go towards capital expansion, working capital needs, and corporate purposes.

5. What are Wow! Momo’s expansion plans?

The company plans to expand to 1,500 stores in 100 cities, grow its FMCG vertical to ₹100 crore, and strengthen its HORECA division.