Hotline: 1800 102 2007
X
Search Business Opportunities
Jun, 13 2017

Wow Momo aims to expand to 180 cities over next 1 year

The company targets to have 50 stores per year over the next two years

Kolkata-based Wow Momo Foods, which owns and operates QSR brand Wow Momo, has raised Rs 44 crore in a Series-B round from investors led by venture capital firm, Lighthouse Funds at a 230 Cr Valuation.

The latest equity financing round has seen the company's first backer Indian Angel Network (IAN), the oldest and largest angel investor group in the country, partially exit the restaurant chain in less than two years.

Sachin Bhartiya, Partner, Lighthouse Funds, said, "We saw that with IAN's funding, and particularly through its internal accruals, the founders have built a great company... Wow Momo is catering to a growing Indian middle class that continues to ha ve greater disposable income and experiment with their food choices."

However, the angel investor collective has also exercised its preemptive option to participate in the latest round, with IAN members Sanjeev Bikhchandani, chairman of BSE-listed Info Edge, and Ashvin Chadha, who was formerly with India Equity Partners, participating in the transaction on its behalf.

The company will use the funds to expand its presence across the country. Wow Momo, which currently has 117 company-owned and operated stores across eight cities, is targeting to be in 180 cities over the next 12 months.

Sagar Daryani, CEO, Wow Momo, said, "The target is to have 50 stores per year over the next two years."

Comment
Related opportunities
  • E-Commerce & Related
    About Us:   India's First e-Commerce platform to take MOM &POP stores..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Ethnic Stores
    About Us: Zingbi Lifestyle Pvt. Ltd operates within the dynamic fashion..
    Locations looking for expansion Tamil nadu
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 00
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
  • Professional Education Colleges
    About:  Ruskin College of Business studies (RCBS) is one of the..
    Locations looking for expansion Tamil nadu
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
  • About Us: Pots and Pans, Launched promoted in India by Meyer..
    Locations looking for expansion New Delhi
    Establishment year 1997
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater DELHI New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities