Wow! Momo Foods, which currently owns and operates Wow! Momo and Wow! China, has raised Series C funding of over $15 Million, led by Tree Line Investment Management. The funding round also saw participation from IAN Fund (Indian Angel Network), as well as existing investor Lighthouse Funds.
“When we started off with Wow! Momo and later Wow! China, we were confident about the potential that the market holds. We had a clear road map on first strengthening our restaurant business, followed by a foray into the FMCG (fast-moving consumer good) space,” said Sagar Daryani, chief executive of Wow! Momo.
The company is now planning to set up over 150 stores and 50 cloud kitchens, and grow more than two times on monthly run rate by next August.
Zaheer Sitabkhan, founder of Tree Line Investment Management, said, “Wow Momos has demonstrated a keen focus on delighting Indian consumers with both taste and value. As India is rapidly emerging from covid, we are enthusiastic about their growth plans both in the QSR and ready to eat category. We are excited to join Wow Momos on their path for growth, and wish them well in this next chapter of their story”