QSR Chen Wow! Momo has said it has raised $15 million in a Series C funding round led by Tree Line Investment Management. With the new financing round, the company is valued at over $165 million. IAN Fund and existing investor Lighthouse Funds have also participated in this financing round.
The company said the new investment will be used to fuel its growth by scaling up efforts on its newly launched FMCG business, adding more energy to the expansion of its QSR and Cloud Kitchen brands and launching its new verticals to be announced soon. will do for With the new funding, the company is now poised to build on the Wow 2.0 story following its latest pivot, the company said in a statement.The company’s CEO and co-founder Sagar Daryani said, ‘When we started Wow! Beginning with Momo and later Wow! China, we were confident of the potential that is in the market. We had a clear roadmap to first strengthen our restaurant business, then enter the FMCG segment. We have remodeled our core during the last few years. We aspire to be a brand that makes good food, be it QSR or FMCG or bridging the nutritional gap. Wow aims to serve health, hygiene and happiness on one platter.
Tell me Wow! Momo Foods operates two QSR brands- Wow! Momo and Wow! China, it’s currently Wow! The Momo operates 350 outlets and Wow! Operates more than 50 outlets in China. In addition, the company plans to set up more than 150 stores and 50 cloud kitchens next year.