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Wow Skin Science forays into cosmetic category with launch of ‘Color Cupid’

EntrackrEntrackr · 1y ago
Wow Skin Science forays into cosmetic category with launch of ‘Color Cupid’
Medial

Body Cupid, the parent company of the personal care brand Wow Skin Science, has ventured into the cosmetics category with the launch of a new brand, Color Cupid. Designed and curated for younger demographics, Color Cupid features nearly 40 stock keeping units (SKU’s) including kajal, eyeliners, lipsticks, foundation, BB cream, primer, makeup remover, and more. “We aim to revolutionize the beauty industry by bridging the gap between your inner world and outer expression, helping you find the look that reflects who you are, without seeking validation or judgment,” said Manish Chowdhary, co-founder of WOW Skin Science. The newly launched brand will be available both online and offline with over 300 beauty advisors and more than 1,000 makeup stores. Color Cupid will focus on regions such as Delhi-NCR, Punjab, Lucknow, Mumbai, Pune, and Vadodara, the company said in a press release. That said, the GIC-backed firm already has four brands namely Wow Skin Science, Wow Life Science, Body Cupid, and Nature Derma. In 2019 the company expanded its operations to the US, increasing its global presence to 22 countries. Wow Skin Science says it draws around 10-12% of its revenue from the international market. As per startup data intelligence platform TheKredible, Wow Skin’s parent company has raised over $95 million to date including a $48 million round led by Singapore GIC in November 2022.

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.

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.

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

EntrackrEntrackr · 3m 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 · 1m 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.

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