Fast food restaurant chain Wow! Momo is poised to raise another Rs 75 crore ($8.4 million) from Singularity AMC as part of its ongoing Series D investment. This is the company's third investment round in 2025, following the Rs 150 crore raise led by Haldiram's Kamal Agrawal, Khazanah, and 360 One.
According to Wow! Momo's filing with the RoC, the board of directors approved the issuing of 7,838 Series D6 CCPS at an issue price of Rs95,699 each to raise the aforementioned cash from Singularity AMC.
According to estimates, the company will be valued at roughly Rs 2,838 crore ($316 million) post-money. The company will use the funds to fund capital expansion, satisfy working capital requirements, and for general corporate reasons to support its business growth, according to the filing.
Also Read: QSR Chain Wow! Momo Secures Rs. 85 Crore in Debt Funding
Sagar Daryani and Binod Homagai founded Wow! in 2008. Momo has approximately 700 locations in 17 cities, housing brands like Wow! Momo, wow! China, wow! Chicken and Wow! Kulfi continue to fuel the company's drive for innovation and expansion.
TheKredible, a startup data intelligence platform, says Wow! Momo has funded about $140 million in total, including a $42 million Series D financing led by Khazanah in January 2024. Following the latest tranche, Singularity AMC will have a 2.64% ownership in the company.
Wow! Momo's fiscal year 24 operating income increased by 13% year on year to Rs 470 crore, up from Rs 413 crore in the previous fiscal year, while losses remained unchanged at Rs114 crore. The corporation has yet to file its FY25 results.
