The fresh funds will be used to further enhance and expand the brand’s quick-service restaurant operations
Wow! Momo, the Indian quick-service restaurant brand, has raised an additional Rs 70 crore ($9 million) in an expanded Series D funding round from Z3 Partners. This brings the total amount raised in its Series D funding to Rs 480 crore ($51 million), which includes Rs 270 crore in primary funding and Rs 210 crore in secondary funding. Indian Angel Network and Lighthouse Funds participated in the secondary acquisition, according to media reports.
Earlier this year, in January, Wow! Momo raised Rs 350 crore (approximately $42 million) in the first round of its Series D funding led by Khazanah Nasional Berhad. The company’s valuation is now over $300 million, according to startup data intelligence platform, TheKredible.
The fresh funds will be used to further enhance and expand the brand’s quick-service restaurant operations, improve distribution channels and invest in research and development for its FMCG division.