Indian quick service restaurant (QSR) chain Wow! Momo has secured an Rs850m ($9.9m) investment from Stride Ventures to enhance its omnichannel strategy and expansion plans.
This investment will allow the chain to widen its presence across dine-in, delivery and fast-moving consumer goods (FMCG).
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Stride Ventures managing partner Apoorva Sharma stated: “Wow! Momo is a reflection of India’s evolving consumer story. Their passion for innovation and scale makes them a standout player in the food services sector.
“We are proud to support their journey as they continue to bring their culinary creations to every corner of the country.”
This collaboration reflects Stride Ventures’ focus on supporting businesses that are influential in transforming the country’s economic and consumer sectors.
Founded in August 2008 by Sagar Daryani and Binod Homagai, the chain has grown to operate more than 700 self-owned stores in 70 cities.
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By GlobalDataSagar Daryani stated: “Stride Ventures’ support marks a pivotal moment in our journey of redefining Indian QSR. With their partnership, we aim to scale new heights, introduce new formats and continue building brands that India can be proud of.”
The Kolkata-based chain, along with its brands, is targeting an expansion to more than 100 cities and aims to increase its store count to 1,500 by 2028.
The company’s focus on the FMCG and hotel, restaurant and café/catering (HORECA) industries positions it for substantial growth.
Wow! Momo announced in early 2025 that it was in the process of securing bridge funding between $15m to $17m, spearheaded by Haldiram’s Kamal Agrawal and Malaysian sovereign wealth fund Khazanah Nasional.
The chain’s product range includes Cheese Momos (a type of steamed dumpling), Butter Masala Momo and the Moburg, which combines momos with burgers.
Wow! Momo’s second brand, Wow! China is aimed at redefining Chindian cuisine – an Indian adaptation of Chinese food – across the country.
