Kolkata Based quick service restaurant chain Wow! Momo has reportedly raised Rs 130–150 crore in a bridge funding round led by Malaysian fund Khazanah Nasional and Kamal Agrawal from the Haldiram promoter family.
The funding has structure through convertible notes, and the valuation will be decided in the next round, according to the Economic Times, which reported the development first.
In its next investment round, which is anticipated to conclude in the October–December quarter of 2025, the fast service restaurant chain located in Kolkata plans to raise $75–80 million (about Rs 600–700 crore), according to the report.
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.
High-net-worth individuals and family offices are among the other investors in the current round. Agrawal was formerly associated with Haldiram’s Nagpur unit, which later merged with its Delhi counterpart.
Founded in August 2008 by Binod Kumar Homagai, Sagar J Daryani, and Shah Miftaur Rahman, the QSR chain has more than 630 outlets in over 35 cities and plans to add 200–250 more by next year.
Wow! Momo, operates under four brands Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi, is mulling to expand its footprint across its restaurant network as well as fast moving consumer goods (FMCG) portfolio, the sources added.