Wow! Momo raises Rs 75 Cr from Madhusudan Kela

Wow! Momo Foods, the quick restaurant chain, has raised Rs 75 crore in fresh funding led by veteran investor Madhusudan Kela, the IC Chairman of Singularity AMC. The capital infusion is expected to support the company’s next phase of growth, with continued focus on expansion, product innovation, and strengthening its path to profitability, a statement said.

This funding round is part of the company’s ongoing bridge round. It had earlier raised capital in this bridge round from Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, along with 360One and Haldiram’s Kamal Agarwal.

According to Tracxn, Wow Momo has raised a total of $152 million over 14 funding rounds.

Founded in 2008 by Sagar Daryani and Binod Homagi, Wow! Momo runs four brands – Wow! Momo, Wow! China, Wow! Chicken and Wow! Kulfi has over 800 outlets across 80-plus cities. The company aims to enter more than 100 cities and have a footprint of over 1500 stores in the next two years.

“This investment is a strong validation of our long-term vision to build a large, enduring QSR company from India. Madhusudan Kela’s belief in our journey strengthens our conviction to scale faster, innovate deeper, and continue building a brand that Indians love and trust,” the founding team said in the statement.

The company has also appointed Avendus as bankers for a larger round later next year.

Wow! Momo closed its last fiscal FY 25 at a revenue of around Rs 640 crore, growing over 30% year-on-year. In FY26, it aims to cross Rs 850 crore.

The company said the closure of this funding highlights its position as a key player in the Indian QSR landscape, reflecting investor confidence in its business model, growth prospects, and commitment to excellence.