Khazanah Nasional Berhad Archives - Business of Food https://www.businessoffood.in/tag/khazanah-nasional-berhad/ Latest Food News, Food Industry News & Business Update Mon, 13 May 2024 11:58:34 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.businessoffood.in/wp-content/uploads/2024/01/cropped-Food-in-32x32.png Khazanah Nasional Berhad Archives - Business of Food https://www.businessoffood.in/tag/khazanah-nasional-berhad/ 32 32 227603187 Wow! Momo gets Rs 70 crore funding in extended Series D round https://www.businessoffood.in/wow-momo-gets-rs-70-crore-funding-in-extended-series-d-round/ Wed, 17 Apr 2024 11:03:00 +0000 https://www.businessoffood.in/?p=2922 Wow! Momo, a quick-service restaurant chain, has recently secured an additional Rs 70 crore from Z3Partners in an extended Series D funding round. This comes after their initial Series D funding round in January, where they raised Rs 410 crore. Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, and OAKS Asset Management, a venture capital firm […]

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]]> Wow! Momo, a quick-service restaurant chain, has recently secured an additional Rs 70 crore from Z3Partners in an extended Series D funding round. This comes after their initial Series D funding round in January, where they raised Rs 410 crore. Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, and OAKS Asset Management, a venture capital firm in Mumbai, led this round. Wow! Momo has a valuation of nearly Rs 2,460 crore post-funding.

With this new infusion from Z3Partners, Wow! Momo’s total Series D funding now stands at Rs 480 crore. Out of this amount, Rs 270 crore was a primary infusion, while Rs 210 crore came from a secondary purchase of shares from early investors—the Indian Angel Network and Lighthouse Funds.

Since its inception in 2008, Wow! Momo has amassed over Rs 625 crore in external funding. Notable investments include ₹40 crore from Lighthouse Funds in 2017 and Rs 120 crore from Tiger Global Management in 2019, as per the media report. 

The company has three distinct brands—Wow! Momo, Wow! China, and Wow! Chicken. Wow! Momo has a widespread presence with over 300 outlets across 17 cities in India.

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]]> 2922 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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