Wow Momo, the brainchild of Sagar Daryani and Binod Homagai, recently marked a significant milestone with a Rs 410 crore investment from Malaysian sovereign wealth fund Khazanah Nasional Berhad and OAKS Asset Management. This substantial funding is poised to propel the brand into a leadership role, fostering innovation and transformation in the food industry.
The success saga of Wow Momo is a testament to the entrepreneurial spirit of Sagar Daryani and Binod Homagai, who kickstarted the venture with a mere Rs 30,000, a single table, and two part-time cooks. Over the years, their dedication has transformed Wow! Momo into a colossal Rs 2100 crore enterprise, challenging industry norms and aspiring to become a global brand.
Sagar Daryani, serving as the CEO, steers Wow Momo under three distinct brands – Wow Momo, Wow China, and Wow Chicken. The vision is ambitious, aiming to rival giants like Domino's and McDonald's, positioning Wow Momo as a prominent player in the global culinary landscape.
The journey began in 2008 when Sagar and Binod, still pursuing their degrees at St. Xavier's in Kolkata, decided to turn their passion into a business. Facing initial resistance from Sagar's family, they launched Wow! Momo with a modest investment and a small kiosk. With only one table and two part-time cooks, the founders actively engaged with customers, seeking feedback, and personally shaping the early years of the business.
Through relentless determination and hard work, the duo transformed the humble investment of Rs 30,000 into a thriving enterprise valued at Rs 2,100 crore. Wow Momo's creative offerings, including the popular 'Moburg' – a fusion of momo and burger, contributed to its success. The brand strategically expanded its footprint, setting up kiosks in diverse business spaces like tech parks, shopping centers, and malls.
Wow Momo's astounding daily sale of 4 lakh momos, coupled with a presence in 17 cities through 300 outlets, reflects its widespread popularity. Following the triumphant establishment of Wow! Momo, the brand introduced Wow! China and Wow! Chicken, diversifying its culinary offerings.
This latest injection of Rs 410 crore funding serves as a testament to the brand's resilience and innovation, propelling Wow Momo towards new heights in the culinary realm. From humble beginnings to a Rs 2100 crore triumph, Wow Momo's journey exemplifies the potential of unwavering dedication and entrepreneurial spirit.
