Madhusudan Kela invests ₹75 crore in Wow! Momo

The investment is part of the company’s ongoing bridge funding round, which saw a ₹150 crore fundraise from Khazanah Nasional Berhad, 360 One and Kamal Agarwal of Haldiram’s family earlier this year.

This is Wow! Momo’s third funding in the year.
“The capital infusion is expected to support Wow! Momo’s next phase of growth, with continued focus on expansion, innovation, and strengthening path to profitability,” said Sagar Daryani, co-founder of Wow! Momo Foods.

Some of Kela’s other prominent investments have been in snacks maker Prataap Snacks, Unicommerce e-solutions and Nazara Technologies.

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The chain operates about 800 outlets across over 80 cities and has expanded to packaged products such as ready-to-cook noodles and dim sums. It has stated in internal presentations that it is working towards a footprint of 1,500 stores in the next two years. It has appointed Avendus as its banker for a larger round later next year.
Wow! Momo, which was founded in 2008 by Daryani and Binod Homagai, closed fiscal FY25 at a revenue of ₹640 crore, a 30% year-on-year growth, its filings show.

QSR chains and packaged foods companies are witnessing a surge of investor interest, on the back of a rapidly growing sector and consumers increasingly opting for dining out or ordering in. Earlier this month, former Hindustan Unilever chairman Sanjiv Mehta-backed L Catterton acquired a minority stake in ethnic snacks maker Haldiram Snacks Food.