Binod Homagai Archives - Business of Food https://www.businessoffood.in/tag/binod-homagai/ Latest Food News, Food Industry News & Business Update Mon, 01 Apr 2024 10:14:01 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.businessoffood.in/wp-content/uploads/2024/01/cropped-Food-in-32x32.png Binod Homagai Archives - Business of Food https://www.businessoffood.in/tag/binod-homagai/ 32 32 227603187 Wow! Momo Unveils Empowering Women’s Day Video https://www.businessoffood.in/wow-momo-unveils-empowering-womens-day-video/ Mon, 11 Mar 2024 05:58:00 +0000 https://www.businessoffood.in/?p=2285 Wow! Momo released a video on Women’s Day, titled #WowWomensDay, celebrating the spirit of bold, independent, and strong working professionals alongside the remarkable women team of Wow! Momo serving them. In the video, a woman visiting a Wow! Momo outlet encountered a challenge when her cab was unexpectedly canceled, leaving her stranded late at night. […]

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]]> Wow! Momo released a video on Women’s Day, titled #WowWomensDay, celebrating the spirit of bold, independent, and strong working professionals alongside the remarkable women team of Wow! Momo serving them.

In the video, a woman visiting a Wow! Momo outlet encountered a challenge when her cab was unexpectedly canceled, leaving her stranded late at night. However, the dedicated Wow team member not only illuminated the outlet to assist her but also ensured her safe journey home, highlighting the unwavering commitment and service of the Wow team to support independent women.

Crafted by Wow Momo’s in-house creative team, the film delivers a powerful message, affirming that women’s aspirations transcend societal norms, and their dreams are boundless.

The Kolkata-based QSR was started by classmates Sagar Daryani and Binod Homagai in August 2008. The basic idea was to create an experience that would leave their customers with only one word – WOW! Today Wow! Momo has over 300 outlets across 17 cities.

After successfully building the brand Wow! Momo, the duo launched a second brand, Wow! China with the vision to redefine ‘Chindian’ cuisine across the country.

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]]> 2285 Wow! Momo Secures Rs. 350 crore in Series D Funding https://www.businessoffood.in/wow-momo-secures-rs-350-crore-in-series-d-funding/ Wed, 17 Jan 2024 06:50:21 +0000 https://www.businessoffood.in/?p=1449 Wow! Momo, the quick-service restaurant chain, has successfully secured Rs. 350 crore (approximately $42 million) in its Series D round, led by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad. Oaks Asset Management, an existing investor, also contributed Rs. 60 crore. This funding not only marks a significant investment but also entails partial exits for early-stage […]

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]]> Wow! Momo, the quick-service restaurant chain, has successfully secured Rs. 350 crore (approximately $42 million) in its Series D round, led by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad. Oaks Asset Management, an existing investor, also contributed Rs. 60 crore. This funding not only marks a significant investment but also entails partial exits for early-stage investors, including Indian Angel Network and Lighthouse Funds.

The infusion of capital will play a pivotal role in fueling Wow! Momo’s growth and expansion, strengthening its distribution foothold, and supporting research and development for its FMCG arm. The Series D round, initiated in September last year, totaled $25 million across the first two tranches, with ValueQuest Capital,
V Ocean Investment, and Oaksand India participating.

Tiger Global, the leader of Wow! Momo’s Series B round in 2019, opted out of both the Series C and the current Series D round. Despite this, Wow! Momo, founded in 2008 by Sagar Daryani & Binod Homagai, operates three QSR brands — Wow Momo, Wow China, and Wow Chicken — boasting 630 outlets across 35 cities and employing 6,000 people. The startup, eyeing a topline of Rs. 650-700 crore in FY24, up from Rs. 435 crore in FY23, has witnessed substantial revenue growth. In FY22, its revenue from operations surged twofold to Rs. 220 crore compared to Rs. 106 crore in FY21. The funding injection is expected to further propel Wow! Momo’s ambitious expansion plans and market presence.

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