Monday, February 26, 2024
HomeInsightFunding Alert Wow! Momo Secures INR 350 Cr Funding From Khazanah

[Funding alert] Wow! Momo Secures INR 350 Cr Funding From Khazanah

The Malaysian sovereign wealth fund, Khazanah Nasional Berhad, invested Rs 350 crore in Wow! Momo Foods.

The Malaysian sovereign wealth fund, Khazanah Nasional Berhad, invested INR 350 crore in Wow! Momo Foods.

Indian Angel Network and Lighthouse Funds, two early-stage backers, will invest both directly and indirectly. In this round, Oaks Asset Management, a former investor, contributed an additional Rs 60 crore, as reported by The Economic Times.

Read also – [Funding alert] OneCard Parent FPL Technologies Raises $14.4 Mn From Alteria Capital

The principal fund will support the FMCG arm’s development and research efforts, distribution strengthening, and brand development and growth.

Three subbrands are used by the company: Wow! Momo, Wow! China and Wow! Chicken. When it comes to volumes and turnovers, Wow! Momo is the biggest Momos chain in the nation.

Read also – [Funding alert] EV Startup Yulu Secures INR 25 Cr Debt from Northern Arc

Wow! Momo won the ‘Best SME of the year Award & and also the Best Food & Agri Products’ in the ET Now Leaders of Tomorrow Regional awards 2013. Wow! Momo also bagged the Best Food Service Brand – East India in the Images East India Retail Summit Awards in 2014.

About Wow! Momo 

Wow! Momo was founded in August 2008 by two young Kolkata entrepreneurs, Sagar Daryani and Binod Homagai. Wow! Momo is the largest momo chain in the country in terms of volume, turnovers, and innovations, with 630 locations operating in over 35 cities.

Read also – [Funding alert] Agritech Startup Kisankonnect Secures INR 31 Cr in Pre-series A Round

Viestories

RELATED ARTICLES
- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -