Credit and Finance for MSMEs: The company has enhanced its focus on click and mortar model as it eyes a hybrid operating model that contains a mix of physical stores in prominent retail locations and cloud kitchens, on the other hand, to cater to its delivery business.
Credit and Finance for MSMEs: Quick service restaurant company Wow! Momo Foods has secured $23 million (around Rs 161 crore) in Series B round of funding led by global startup backer Tiger Global. The new round values the company at $120 million up from around $42 million in 2018 after it raised Rs 3 crore from Fabindia MD, William Bissel last year. The company has expanded with 282 outlets of Wow! Momo and 11 outlets of its newest brand Wow! China spread across 15 cities combined. Wow! Momo had forayed into China this year in March.
The company would deploy capital in scaling its operations to tap more customers in India, according to the company’s CEO and Co-founder Sagar Daryani who announced the development in a statement on Thursday. The company has plans to launch a range of packaged momo and momo sauce offerings even as it would be ultimately preparing for an IPO.