Wow! Momo Raises Rs 85 Cr from Stride Ventures for Expansion

Stride Ventures has invested ₹85 crore in Wow! Momo Foods for national expansion, bolstering the QSR chain's plans to enter over 100 cities and scale its store network to over 1,500 in three years. The investment supports Wow! Momo's omnichannel strategy and validates its robust business model with consistent unit economics.

Stride Ventures has invested ₹85 crore in debt financing for Wow! Momo Foods, supporting the quick-service restaurant (QSR) chain's ambitious plans to enter over 100 cities and scale its store network to over 1,500 in the next three years. This investment underscores the company's robust business model and strong unit economics, as well as its commitment to an omnichannel strategy.

Wow! Momo Foods, which operates more than 700 stores across 70 cities and owns the Wow China, Wow Chicken, and Wow Kulfi brands, is poised to expand its footprint significantly. The company's consistent unit economics, which validate its business model, have been a key factor in attracting this investment. Stride Ventures, a prominent venture capital firm, has a history of supporting category leaders and changemakers across various industries, making this collaboration a significant milestone for Wow! Momo Foods.

The investment will also support the company's plans to scale its fast-moving consumer goods (FMCG) vertical to ₹100 crore and ramp up its newly launched HORECA (hotel, restaurant, and catering) arm this year. Additionally, the company’s omnichannel strategy, spanning dine-in, delivery, and FMCG verticals, has enabled it to drive growth across multiple consumer touchpoints, thereby building a scalable and future-ready platform.

The funding round, which is part of a Series D investment, brings the total funding for Wow! Momo to ₹152 million, with a current valuation of ₹2,740 crore. This investment reflects the confidence of Stride Ventures in the company's growth potential and its ability to disrupt the Indian QSR market.

Stride Ventures, with a portfolio of over 180 companies, including 17 unicorns across diverse sectors, has committed over $1 billion in venture debt and private credit. This investment is part of the firm's broader strategy to empower entrepreneurs globally, with offices across India, the UAE, Riyadh, the UK, and Singapore.

References:
[1] https://www.business-standard.com/companies/start-ups/stride-ventures-lends-rs-85-crore-wow-momo-qsr-expansion-125061001078_1.html
[2] https://tracxn.com/d/companies/wow-momo/__O3VquWPdTzwoEvQRBPiGT5zfxKdHRBOs4V_mXngwcvM