Quick service restauranter Wow Momo raised over $15 million (around Rs 110.49 crore) in a series C funding round led by Tree Line Investment Management. The latest funding round implies the Kolkata-headquartered restauranter is now valued at Rs 1,225 crore. IAN Fund (Indian Angel Network) and existing investor Lighthouse Funds also participated in the funding round.
“This is a formidable leap from its last valuation of 860 crore in September 2019, when it raised money from Tiger Global, considering the brand’s persistent efforts of pivoting, bouncing back profitably and outstanding efforts during the pandemic,” the statement said.
Wow Momo Foods operates QSR chains - Wow Momo and Wow China. The company plans to set up over 150 physical stores and 50 cloud kitchens in the next year. It further aspires to grow "2x plus on monthly run rate" by August, next year.