Wow! Momo Raises ₹85 Crore from Stride Ventures to Accelerate Omnichannel Expansion

Kolkata quick-service restaurant (QSR) chain Wow! Momo has raised ₹85 crore of debt capital from Stride Ventures, a milestone that shows it has come a long way in its aggressive growth plan. Having turned the simple momo into a pan-Indian sweetheart, the company is now preparing to expand its omnichannel footprint and enter new segments such as FMCG and HORECA.

A Brand Built on Innovation and Agility

Established with a mission to popularize regional street food, Wow! Momo is today one of the leading QSR players in India. With more than 700 outlets in over 70 cities, it has established a strong presence in both dine-in and delivery business. Its portfolio comprises not only its core brand Wow! Momo but also Wow! China, Wow! Chicken, and the new kid on the block Wow! Kulfi.

What differentiates Wow! Momo is its persistent pursuit of innovation, customer retention, and unit-level profitability. This is a rare combination in a aggregator platform-dominated market with razor-thin margins.

Powering the Next Phase of Growth

The ₹85 crore raised from Stride Ventures will go towards building the company's core business while expediting new initiatives. These are:

• Omnichannel Growth: The company is investing in physical stores and delivery capabilities in its plans to grow to 1,500 stores in 100 or more cities in the next three years.

• FMCG Play: Wow! Momo is looking to grow its consumer goods vertical to ₹100 crore in topline by selling ready-to-eat offerings in retail outlets across the country.

• HORECA Channel: The recently debuted hotels, restaurants, and catering (HORECA) business is a bid to diversify revenue streams away from conventional QSR formats.

This is Wow! Momo's first significant fundraise since January 2024, when it raised $49 million from Malaysia's sovereign wealth fund Khazanah Nasional Berhad. That round also included exits from early backers like Indian Angel Network and Lighthouse Funds, reflecting strong returns and increasing investor confidence.

A Reflection of India's Changing QSR Landscape

As India's food service industry grapples with issues such as consumption slowdowns and increase in aggregator commissions, Wow! Momo's expansion mirrors a larger trend. Domestic brands that focus on unit economics, innovation, and customer connection are making headway in market share. Speaking on the investment, Apoorva Sharma, Managing Partner at Stride Ventures, said, “Wow! Momo represents the next generation of Indian food enterprises. Their passion for scale and innovation makes them an exciting partner in this journey.”

Co-founder and CEO Sagar Daryani added, “With Stride’s support, we’re ready to redefine Indian QSR once again. Our goal is to build world-class food brands that every Indian can be proud of.”

The Road Ahead

With a clear roadmap, strong backing, and a loyal customer base, Wow! Momo is well-positioned to lead the next wave of growth in India’s dynamic food services sector.

Stay tuned, because the momo movement is only just getting started.