🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC

EntrackrEntrackr · 3h ago
Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC
Medial

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC Quick service restaurant chain Wow! Momo is set to raise another Rs 75 crore ($8.4 million) in its ongoing Series D round from Singularity AMC. This marks the company’s third funding round in 2025, following a Rs 150 crore raise led by Haldiram’s Kamal Agrawal, along with Khazanah and 360 One. Wow! Momo’s board approved the issuance of 7,838 Series D6 CCPS at an issue price of Rs 95,699 each to raise the above-mentioned sum from Singularity AMC, according to its filing with the Registrar of Companies (RoC). As per Entrackr’s estimates, the company will be valued at around Rs 2,838 crore ($316 million) on a post-money basis. The company will utilize the proceeds to fund capital expansion, meet working capital requirements, and for general corporate purposes to support its business growth, the filing added. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets across 17 cities, housing brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. According to startup data intelligence platform TheKredible, Wow! Momo has raised over $140 million to date, including a $42 million Series D round led by Khazanah in January 2024. Following the latest tranche, Singularity AMC will hold a 2.64% stake in the company. For FY24, Wow! Momo posted a 13% year-on-year growth in operating revenue to Rs 470 crore, compared to Rs 413 crore in the previous fiscal, while its losses remained stable at Rs 114 crore. The company has not yet filed its FY25 numbers.

2

Related News

Exclusive: Wow! Momo set to raise $8.5 Mn in ongoing round

EntrackrEntrackr · 3m ago
Exclusive: Wow! Momo set to raise $8.5 Mn in ongoing round
Medial

Wow! Momo set to raise $8.5 Mn in ongoing round Quick service restaurant chain Wow! Momo is raising Rs 75 crore (approximately $8.5 million) in its ongoing Series D round led by 360 ONE with the participation of Kyrush Investments. This fresh investment comes three months after the company secured Rs 85 crore in debt funding from Stride Ventures, crossing Rs 650 crore in cumulative funding under its Series D round. The board at Wow! Momo has passed a resolution to issue 7,837 Series D6 CCPS at an issue price of Rs 95,699 per share to raise Rs 75 crore, as shown by regulatory filings. 360 One will invest Rs 70 crore, while Kyrush Investments will put in Rs 4.99 crore. Wow! Momo is now valued at around $315-320 million post-money. The company plans to use the proceeds for capital expansion, working capital, and corporate purposes. 360 One Portfolio will hold a 2.53% stake, while Kyrush Investments will own 0.18%. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets in 70 cities and owns brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. The company plans to expand its FMCG business to Rs 100 crore, grow its HORECA division, and scale to 1,500 stores across 100 cities in three years. According to TheKredible, Wow! Momo’s revenue grew 13% year-on-year to Rs 470 crore in FY24 from Rs 413 crore in FY23, maintaining steady losses at Rs 114 crore. The company is yet to reveal its FY25 numbers.

Wow! Momo raises Rs 130-150 Cr led by Haldiram’s Kamal Agrawal and Khazanah

EntrackrEntrackr · 8m ago
Wow! Momo raises Rs 130-150 Cr led by Haldiram’s Kamal Agrawal and Khazanah
Medial

Wow! Momo has reportedly raised Rs 130–150 crore in a bridge funding round led by Kamal Agrawal from the Haldiram promoter family and Malaysian fund Khazanah Nasional. Economic Times, which reported the development first, added that the funding is structured through convertible notes, with the valuation to be decided in the next round. According to the report, the Kolkata-based quick service restaurant chain is planning to raise $75–80 million (about Rs 600–700 crore) in its next funding round, expected to close in the October–December quarter of 2025. Wow! Momo has raised over Rs 600 crore to date including $42 million (Rs 350 crore) in its Series D led by Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. Other investors in the current round include family offices and high-net-worth individuals. Agrawal was earlier linked to the Nagpur unit of Haldiram, which later merged with its Delhi counterpart. Wow! Momo operates under four brands: Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. It runs 680 outlets and plans to add 200–250 more by next year. As per TheKredible, Wow! Momo’s revenue from operations grew to Rs 470 crore in the last fiscal year from Rs 413 crore in FY23. It maintained steady losses at Rs 114 crore in FY24. The company is also growing its FMCG business, with frozen momos generating Rs 5 crore in monthly sales, mainly through quick commerce platforms.

Wow! Momo raises Rs 85 Cr in debt from Stride Ventures

EntrackrEntrackr · 6m ago
Wow! Momo raises Rs 85 Cr in debt from Stride Ventures
Medial

Wow! Momo raises Rs 85 Cr in debt from Stride Ventures Quick-service restaurant chain Wow! Momo Foods has raised Rs 85 crore (around $10 million) in debt funding from Stride Ventures. The proceeds will be used to refinance existing loans and drive expansion across its QSR and FMCG verticals. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets in 70 cities, and owns brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. “This support from Stride Ventures will help us scale new heights and introduce more formats to reach wider audiences,” said Sagar Daryani, Co-founder & CEO of Wow! Momo. The company plans to scale its FMCG business to Rs 100 crore, grow its HORECA division, and expand to 1,500 stores across 100 cities in the next three years. As per TheKredible, Wow! Momo’s revenue from operations grew to Rs 470 crore in FY24 from Rs 413 crore in FY23. It maintained steady losses at Rs 114 crore in FY24.

Wow! Momo posts Rs 470 Cr revenue and Rs 114 Cr loss in FY24

EntrackrEntrackr · 10m ago
Wow! Momo posts Rs 470 Cr revenue and Rs 114 Cr loss in FY24
Medial

Wow! Momo saw 14% growth in operating revenue in FY24, it fell far short of the 88% year-on-year surge recorded in FY23, indicating a slowdown in growth. However, the Tiger Global-backed firm managed to keep its losses stable, remaining flat for the fiscal year ending March 2024. Wow! Momo’s revenue from operations grew to Rs 470 crore in the last fiscal year from Rs 413 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo Foods operates three QSR brands—Wow Momo, Wow China, and Wow Chicken. The company claims to have a network of 630 outlets across 35 cities and a workforce of 6,000 employees. Revenue from the sale of momos, food, and beverages contributed 97% of the total operating income, which grew by 11.5% to Rs 456 crore in FY24. The remaining revenue came from frozen momo sales. Wow! Momo also added Rs 9 crore from interest on deposits, bringing the overall revenue to Rs 479 crore in the last fiscal year. For the QSR firm, the cost of material procurement formed 26.6% of total expenditure, increasing 15.3% to Rs 158 crore in FY24 in line with revenue growth. Employee benefit expenses declined 27.7% to Rs 120 crore in the previous fiscal year. Expenses related to power/fuel, rent, advertising, commissions, finance costs, and other overheads contributed to a 11.9% rise in total expenditure, reaching Rs 593 crore in FY24. The 13.8% increase in scale, along with controlled expenses, helped Wow! Momo maintain steady losses at Rs 114 crore in FY24. Its ROCE and EBITDA margin stood at -8.33% and 7.93%, respectively, with an expense-to-revenue ratio of Rs 1.26. By the end of FY24, Wow! Momo's total current assets were recorded at Rs 250 crore, including Rs 175 crore in cash and bank balances. Wow! Momo has raised over Rs 600 crore to date, including $42 million (Rs 350 crore) in its Series D led by Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. According to the startup data intelligence platform TheKredible, Tiger Global is the largest external stakeholder followed by Treeline Investment. Wow! Momo is reportedly aiming for Rs 650 crore in revenue in FY25 with improved unit economics and has its sights set on going public in 2027.

Wow! Momo crosses Rs 400 Cr revenue threshold in FY23

EntrackrEntrackr · 1y ago
Wow! Momo crosses Rs 400 Cr revenue threshold in FY23
Medial

Quick service restaurant chain Wow! Momo scaled 3.8X during the last two reported fiscal years as its revenue rose to Rs 413 crore in FY23 from Rs 106 crore in FY21. Despite this spurt in growth, the Kolkata-based company’s losses increased marginally during FY23. Wow! Momo’s revenue from operations surged 87.7% to Rs 413 crore in FY23 from Rs 220 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo Foods operates three QSR brands—Wow Momo, Wow China, and Wow Chicken. The firm claims to have 630 outlets across 35 cities and directly employs 6,000 people. The sale of its products was the sole source of revenue for the Tiger Global-backed firm. It also made Rs 3 crore from the interest on deposits and current investments which took its overall income to Rs 416 crore in the fiscal year ending March 2023. For the Quick service restaurant, the cost of procurement of materials formed 34% of its total expenditure. This cost increased by 66.7% to Rs 160 crore in FY23. Wow! Momo paid Rs 62 crores of rent during FY23. Its employee benefits, electricity, advertising cum promotional, commissions, and other overheads pushed the firm’s overall expenditure to Rs 471 crore in FY23 from Rs 275 crore in FY22. Check TheKredible for the detailed expense breakup. The impressive scale and controlled expenditure helped Wow! Momo to keep its losses in check which increased only 13.1% to Rs 60.5 crore in FY23 from Rs 53.5 crore in FY22. Its ROCE and EBITDA margins improved to -11% and -1.8% respectively. On a unit level, it spent Rs 1.14 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -7% -1.8% Expense/₹ of Op Revenue ₹1.25 ₹1.14 ROCE -15% -11% Wow! Momo has raised over $120 million to date including its $51 million Series D round led by Khazanah. According to the startup data intelligence platform TheKredible, Tiger Global is the largest external stakeholder followed by LightHouse. The company has current assets of Rs 131 crore including cash and bank balances of Rs 54 crore during the fiscal ended March 2023. As per TheKredible estimates, its enterprise value to revenue multiple is 6.8X. As a bonafide and well recognised fast food brand, Wow! Momo is on record with an aim to reach a topline of Rs 650-700 crore in the just closed fiscal year (FY24). That seems perfectly possible considering its wide distribution and increasing acceptance. The brand deserves credit for sticking it out in a tough situation post 2020, and making it work as a standalone product based offering. While its menu has expanded, the firm remains nimble enough to make quick changes where required. Despite a relatively low franchise fee, the firm seeks better control over locations and quality. Competition, specifically in the momos space remains limited yet, at the mid-range it occupies. Momos continue to enjoy growing acceptance, with many regions to be conquered yet. The firm certainly has a runway long enough to keep pace with the ambitions of its stakeholders.

Exclusive: EV startup Qucev raises $15 Mn in Series B

EntrackrEntrackr · 8d ago
Exclusive: EV startup Qucev raises $15 Mn in Series B
Medial

Exclusive: EV startup Qucev raises $15 Mn in Series B Qucev has raised Rs 131.25 crore ($15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. Electric commercial vehicle startup Qucev has raised Rs 131.25 crore (approximately $15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. According to its regulatory filing with the Registrar of Companies (RoC) in September 2025, Qucev’s board issued 4,467,375 Series B compulsorily convertible preference shares at an issue price of Rs 293.8 per share to raise the said amount. Singularity AMC led the tranche with an investment of Rs 25.76 crore (nearly $3 million), followed by Lotus Family Trust, which put in Rs 18.5 crore. Anchorage Capital, Volrado Venture Partners, Param Capital, and S Gupta Family Investments each invested Rs 17.98 crore. The remaining amount was contributed by other investors, including angel investors Lakshay Singhal, Anubhav Gupta and company’s founder Naresh Rawal. According to Entrackr’s analysis, the company is currently valued at around Rs 538 crore or $61 million post-money. Founded in 2022 by Naresh Rawal, Qucev is a next-generation electric commercial vehicle company in partnership with China-based EV manufacturer BYD, designs and manufactures electric tractors, trucks, buses, and three-wheelers, focusing on sustainable and cost-effective mobility. Beyond manufacturing and sales, Qucev also offers financing, charging infrastructure, and fleet solutions. According to startup data intelligence platform TheKredible, Qucev has previously raised around $4 million from Singularity AMC, Barclays and Maa Creations. For the fiscal year ended March 2025, the company did not report any product sales and generated Rs 2.08 crore from the sale of services. During the same period, it recorded a loss of Rs 9.35 crore. Qucev competes with players like Euler Motors, Altigreen, as well as established names such as Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

Wow! Momo raises $9 Mn more in Series D round

EntrackrEntrackr · 1y ago
Wow! Momo raises $9 Mn more in Series D round
Medial

Quick service restaurant chain Wow! Momo has raised Rs 70 crore (approximately $9 million) in an extended Series D round from Z3 Partners. With this, the firm has raised Rs 480 crore ($51 million) in Series D which includes Rs 270 crore primary and Rs 210 crore secondary. As per a media report, Indian Angel Network and Lighthouse Funds participated in the secondary purchase. Wow! Momo scooped up Rs 350 crore (approximately $42 million) in the first tranche of Series D round led by Khazanah Nasional Berhad in January this year. The company was valued at over $300 million as per startup data intelligence platform TheKredible. As per the company, the new proceeds will be used for growth and expansion of the quick service restaurant brand, strengthening the distribution and research and development for the FMCG arm. The firm entered the FMCG segment in July 2021. Launched by Sagar Daryani & Binod Homagai, 16-year-old Wow! Momo Foods operates three QSR brands—Wow Momo, Wow China and Wow Chicken. The firm claims to have 630 outlets across 38 cities and directly employs 6,000 people. The company aims to expand with an additional 200 outlets during the ongoing fiscal year (FY25). Wow! Momo aims to reach a topline of Rs 650-700 crore this fiscal year (FY24), up from Rs 435 crore in FY23. While the firm is yet to file its financial statements for the last fiscal year (FY23), its revenue from operations grew two-fold to Rs 220 in FY22 from Rs 106 crore in FY21.

Download the medial app to read full posts, comements and news.