Wow! Momo, a chain of quick-service restaurants (QSR), has successfully raised further capital from Z3Partners in its latest funding round. This investment, which marks a continuation of the last round, is a primary investment by Z3Partners, India’s tenured early-growth tech and digital Investor.
The round builds upon the momentum generated by Wow! Momo’s previous successful funding of INR 350 crores from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia.
Wow! Momo, which runs 3 strong national brands Wow! Momo, Wow! China and Wow! Chicken has a formidable footprint of over 600+ outlets across 38 cities. The Company has also forayed into the FMCG sector along with their QSR vertical, which has made their cumulative growth story into a success story.
The primary proceeds will fuel the growth and expansion of the quick service restaurant (QSR) brand and help to strengthen the distribution foothold and research and development (R&D) for the FMCG arm. The entire round is a testimony to the brand’s vision, scalability, and rigour on profitability.
Expressing his delight about the recent funding, Sagar Daryani, CEO of Wow! Momo stated, “For us this is just the beginning; we have been consistent and resilient and sharp-focused on sustainable growth & the belief this round of investors have shown on us fortifies our faith and further motivates us to be changemakers. Z3Partners we felt have a strong strategic lens, which will only strengthen our guardrails going forward.”
Rishi Maheshwari, Managing Partner at Z3Partners commented, “Wow! Momo is in true sense, a reflection of the vibrant entrepreneurial landscape in the country. Over the years, Sagar and team have singularly focused on building a high-quality food business at scale, fuelled by superior execution expertise. This perfectly aligns with our investment thesis of backing scalable businesses with large addressable markets that leverage technology to drive efficiencies across the value chain. We are proud to partner with Wow! Momo as it embarks on its journey to deepen its reach across India in becoming the leading homegrown QSR brand in India.”The successful closure of this funding round highlights Wow! Momo’s position as a key player in the Indian QSR landscape, reflecting investor confidence in its business model, growth prospects, and commitment to excellence.