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From Wow! Momo To International Battery Company — Indian Startups Raised $136 Mn This Week

Inc42 · 1y ago

From Wow! Momo To International Battery Company — Indian Startups Raised $136 Mn This Week

During the third week of January 2024, Indian startups secured a total of $136 million in funding across 21 deals. This marks a slight decline of 6% compared to the previous week, where 25 startups raised $145 million. The biggest funding round of the week was led by fast-food chain Wow! Momo, which raised $42 million from Malaysian sovereign fund Khazanah Nasional Berhad. Cleantech emerged as a top-funded sector, with $45 million invested in three deals, followed by fintech with six deals amounting to $20.7 million in funding.

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Funding and acquisitions in Indian startups this week [15-20 Jan]

Entrackr

Entrackr · 1y ago

Funding and acquisitions in Indian startups this week [15-20 Jan]

This week, Indian startups raised a total of $178 million, with two growth-stage and 22 early-stage deals. The funding included investments in startups such as Wow! Momo, OneCard, International Battery Company, StockGro, and FinAGG. Bengaluru-based startups led the city-wise funding deals, followed by Delhi-NCR and Mumbai. Series A stage deals dominated the funding, with 10 deals, followed by pre-Series A, pre-seed, and seed stage deals. Four acquisitions also took place this week, including Cured by Innovaccer, Clientjoy by Synup, ZestMoney by DMI Group, and Kyndi by Qlik.

Startup funding down 80% to $144 million this week

Economic Times

Economic Times · 1y ago

Startup funding down 80% to $144 million this week

Investments in Indian startups plummeted by about 80% year-on-year, reaching $143.9 million across 26 deals for the week. In the same period last year, startups secured $722 million in 30 rounds. Late-stage funding led this week's capital influx at $65 million, accounting for 45.2% of the total, followed by $55.3 million in early-stage funding, constituting 38.4%. Notable deals include Nazara Technologies raising Rs 250 crore, International Battery Company securing $35 million, Wow! Momo Foods garnering Rs 350 crore, FinAGG Technologies raising $11 million, and Alt Mobility receiving $6 million.

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

Entrackr

Entrackr · 1y ago

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

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.

Tiger Global-backed Wow! Momo raises venture debt

VCCircle

VCCircle · 1m ago

Tiger Global-backed Wow! Momo raises venture debt

Wow! Momo, a Kolkata-based quick-service restaurant chain backed by Tiger Global and Khazanah Nasional Berhad, has raised Rs 195 crore through venture debt. The company operates more than 630 outlets in 35 cities under three brands: Wow! Momo, Wow! China, and Wow! Chicken. This fresh funding is expected to support its expansion and operational strategies, enhancing its presence in India's fast-food market.

Wow! Momo Foods raises Rs 350 crore in funding from Khazanah

Economic Times

Economic Times · 1y ago

Wow! Momo Foods raises Rs 350 crore in funding from Khazanah

Wow! Momo, an Indian food chain, has raised Rs 350 crore in funding from Khazanah, an investment holding arm of the Malaysian government. The company plans to use the funds for expansion, technology upgradation, and brand building. Wow! Momo currently operates over 350 outlets across 17 cities in India and serves a variety of momos and other quick-service foods. This funding will help fuel their growth and further strengthen their presence in the Indian market.

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

Entrackr

Entrackr · 25d ago

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

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 raises ₹70 crore in extended Series D round from Z3Partners

Livemint

Livemint · 1y ago

Wow! Momo raises ₹70 crore in extended Series D round from Z3Partners

Quick service restaurant chain Wow! Momo has raised an additional ₹70 crore in funding from Z3Partners as part of an extended Series D round. This brings the company's total funding in Series D to ₹480 crore. Wow! Momo operates three brands and has over 600 outlets across 38 Indian cities. The fresh capital will be used to fuel growth, expand the restaurant brand, strengthen its distribution network, and support research and development initiatives for its FMCG arm. The investment aligns with Z3Partner's strategy of backing scalable businesses.

Tiger Global-backed Wow! Momo cooks new fundraising plan

VCCircle

VCCircle · 4m ago

Tiger Global-backed Wow! Momo cooks new fundraising plan

Wow Momo Foods Pvt. Ltd, which operates the Wow! Momo quick-service restaurant chain, plans to initiate a new round of equity funding. The company, supported by investors like New York-based Tiger Global and Malaysia's Khazanah Nasional Berhad, seeks to expand its financial backing. Wow! Momo currently runs over 630 outlets across 35 cities, demonstrating its expansive reach in the quick-service restaurant sector.

Wow! Momo Bags INR 70 Cr From Z3Partners

Inc42 · 1y ago

Wow! Momo Bags INR 70 Cr From Z3Partners

Kolkata-based QSR chain Wow! Momo has raised INR 70 Cr ($8.3 Mn) from investment firm Z3Partners. This funding is an extension of the previous round that saw participation from Khazanah Nasional Berhad and OAKS Asset Management. Wow! Momo plans to use the funds to expand its QSR brand, strengthen distribution, and invest in R&D for its FMCG arm. The company, founded in 2008, currently operates over 600 outlets in 38 cities and aims to expand to more than 1,500 stores in the next three years.

India’s Wow Momo takes cues from Domino’s for IPO in two years

Livemint

Livemint · 9m ago

India’s Wow Momo takes cues from Domino’s for IPO in two years

Indian fast-food chain Wow Momo Foods is planning to go public within the next two years, as it aims to replicate the rapid expansion of Domino’s Pizza in India. With a valuation of 25 billion rupees ($299.33 million) and a network of 650 stores, Wow Momo wants to become the first major local fast-food chain to go public. The company reported revenue of nearly 4.8 billion rupees for the fiscal year ending in March and aims to double it to 10 billion rupees over the next 30 months. Wow Momo plans to increase its store count to 1,000 and become profitable within two years.

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