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

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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.