Wow! Momo Foods Raises Over INR 350 Cr From Khazanah Nasional Berhad

Wow! Momo Foods, the operator of Wow! Momo, Wow! China and Wow! Chicken has raised over INR 350 crores from Khazanah Nasional Berhad (“Khazanah”), the sovereign wealth fund of Malaysia. The investment will be made through both primary infusion and secondary purchase from early-stage investors, the Indian Angel Network (IAN) and Lighthouse Funds.
In addition, the company’s existing investor, OAKS Asset Management, has also infused INR 60 crores of additional funding into Wow! Momo Foods.
Commenting on the announcement, Sagar Daryani, CEO and Co-Founder, Wow! Momo Foods said, “There is no greater joy for a founder than giving its initial investors (Indian Angel Network (IAN) and Lighthouse Funds) great partial exits. For us, the Bharat Story has just begun with a huge headway of growth. With Khazanah’s investment into the business and their long-term approach, we will strive to become the powerhouse of innovation and transformation in the food space while keeping a strong balance between sustainability, growth and backing breakthroughs”.
Dato’ Amirul Feisal Wan Zahir, Managing Director, Khazanah, said, “We are excited to be on the journey with Wow! Momo in their mission to build the largest Quick Service Restaurant(QSR) brand in India. We aim to encourage the growth of Wow! Momo through enhanced scalability, technological fortification, and focusing on building a strong back-end capability to support its growth.”

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