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Company type | Private |
---|---|
Industry | Food and beverage Fast food restaurants |
Founded | August 2008 |
Founder | Sagar J. Daryani Binod K. Homagai Shah M. Rahman - Co-founder L Muralikrishnan - Co-founder |
Headquarters | , |
Number of locations | 30 cities [1] [2] |
Area served | India |
Key people | Sagar J Daryani (CEO) Binod K. Homagai (COO) Shah Miftaur Rahman (CFO) Muralikrishnan L (CMO) Mithun Appaiah (CEO - FMCG) |
Products | Momo Burger Dessert |
Revenue | ![]() (FY 2023 (est)) |
Number of employees | 6000 |
Parent | Wow! Momo Foods Private Limited |
Website | https://www.wowmomo.com/ |
Wow! Momo is an Indian chain of fast food restaurants headquartered in Kolkata. [3] [4] The chain specializes in momo (specifically Nepali Mo:Mo), momo-filled burgers (MoBurgs) and momo-based desserts. It was established in 2008 by St. Xavier's College alumni Sagar Daryani and Binod Homagai. [5] [6]
As of December 2021, there are around 425 outlets across 19 cities in India. Wow! Momo Foods Pvt. Ltd. operates 3 Brands; Wow! Momo, Wow! China and Wow! Chicken which was launched in December 2021. [7] [8]
As per Fintrackr’s estimates, Wow! Momo in 2022 raised fresh investment in Series D round at a valuation of $270 million. [9]
The founders of Wow! Momo, Sagar Jagdish Daryani and Binod Kumar Homagai, first met each other at St. Xavier's College during their undergrad. [10] With an initial amount of ₹30,000, they started the venture in 2008 at the age of 21. Wow! Momo began as a 6' by 6' kiosk in a Spencer's, which was one of their initial stores (the other one being a kiosk inside a Big Bazaar on rent for 18% of revenue share per month). [11] They were later joined by another St. Xavier's alumnus and friend Shah Miftaur Rahman, and Muralikrishnan joined as the fourth co-founder in 2018.. [10]
Wow! Momo, in June 2017, managed to raise ₹44 crore from Lighthouse funds and through investments by Indian Angel Network. [12] A year later, Fabindia's managing director, William Bissell, invested ₹3 crore (US$440,000) in the company, which helped Wow! Momo reach a valuation of ₹300 crore (US$45 million). [13] And in September 2019, after an investment by Tiger Global Management of ₹130 crore (US$23 million), the valuation of the company crossed ₹860 crore (US$120 million), which led to the opening of more outlets in commercial locations like malls and tech parks. [14]
During the COVID-19 pandemic, Wow! Momo entered into a strategic partnership with Café Coffee Day, in which they decided to share outlet space along with costs and revenue. [15]
In January 2024, Wow! Momo raised approximately ₹410 crore in funding from Khazanah Nasional Berhad and Oaks Capital Management, bringing the company's valuation to over ₹2,400 crore. [16]
In April 2024, Wow! Momo managed to raise $9 million (₹70 crore) from Z3 Partners. [17]
In March 2023, in a trademark dispute, the Delhi High Court issued a prima facie injunction against the restaurant chain Wow Punjabi, temporarily restraining it from using a mark resembling that of Wow! Momo. The court acknowledged Wow! Momo's registered trademarks and market presence, noting Wow Punjabi’s failure to respond to cease and desist notices. [18]
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