Wow! Momo is a popular Indian fast food chain based in Kolkata that specializes in momos, momo-filled burgers, and momo-based desserts. It was founded in 2008 by Sagar Daryani and Binod Homagai, who are alumni of St. Xavier's College.
The chain has seen significant growth since its inception, and as of December 2021, it has around 425 outlets spread across 19 cities in India. The company operates three brands - Wow! Momo, Wow! China, and Wow! Chicken, which was launched in December 2021. Wow! Momo Foods Pvt. Ltd., which is the parent company, aims to go public with an IPO in a few years and expand globally to compete with international fast food chains like Domino's and McDonald's.
In 2021, Wow! Momo Foods emerged as the most valued homegrown QSR brand in India, with a valuation of ?1,225 crores. The company has achieved this without any franchise plans, as all the outlets are company-operated.
In 2022, Wow! Momo raised fresh investment in a Series D round, which valued the company at $270 million or Rs 2,130 crore post allotment, according to Fintrackr's estimates. This is a significant increase from the previous year when the company's valuation was around $165-170 million in a Series C round.
Overall, Wow! Momo has been successful in carving a niche for itself in the competitive Indian fast food market with its unique offerings and innovative approach.