Wow! Momo

'''Wow! Momo''' is an Indian chain of fast food restaurants headquartered in Kolkata.[3][4] The chain specializes in momo (specifically Nepali Mo:Mo), momo-filled burgers (MoBurgs) and momo-based desserts. It was established in 2008 by St. Xavier's College alumni Sagar Daryani and Binod Homagai.[5][6]

As of December 2021, there are around 425 outlets across 19 cities in India. Wow! Momo Foods Pvt. Ltd. operates 3 Brands; Wow! Momo, Wow! China and Wow! Chicken which was launched in December 2021.[7][8]

As per Fintrackr’s estimates, Wow! Momo in 2022 raised fresh investment in Series D round at a valuation of $270 million.[9]

History

The founders of Wow! Momo, Sagar Jagdish Daryani and Binod Kumar Homagai, first met each other at St. Xavier's College during their undergrad.[10] With an initial amount of ₹30,000, they started the venture in 2008 at the age of 21. Wow! Momo began as a 6' by 6' kiosk in a Spencer's, which was one of their initial stores (the other one being a kiosk inside a Big Bazaar on rent for 18% of revenue share per month).[11] They were later joined by another St. Xavier's alumnus and friend Shah Miftaur Rahman, and Muralikrishnan joined as the fourth co-founder in 2018.[10]

Wow! Momo, in June 2017, managed to raise ₹44 crore from Lighthouse funds and through investments by Indian Angel Network.[12] A year later, Fabindia's managing director, William Bissell, invested ₹3 crore (US$440,000) in the company, which helped Wow! Momo reach a valuation of ₹300 crore (US$45 million).[13] And in September 2019, after an investment by Tiger Global Management of ₹130 crore (US$23 million), the valuation of the company crossed ₹860 crore (US$120 million), which led to the opening of more outlets in commercial locations like malls and tech parks.[14]

During the COVID-19 pandemic, Wow! Momo entered into a strategic partnership with Café Coffee Day, in which they decided to share outlet space along with costs and revenue.[15]

In January 2024, Wow! Momo raised approximately ₹410 crore in funding from Khazanah Nasional Berhad and Oaks Capital Management, bringing the company's valuation to over ₹2,400 crore.[16]

In April 2024, Wow! Momo managed to raise $9 million (₹70 crore) from Z3 Partners.[17]

Controversies

In March 2023, in a trademark dispute, the Delhi High Court issued a prima facie injunction against the restaurant chain Wow Punjabi, temporarily restraining it from using a mark resembling that of Wow! Momo. The court acknowledged Wow! Momo's registered trademarks and market presence, noting Wow Punjabi’s failure to respond to cease and desist notices.[18]

In January 2026, a major fire at a warehouse complex in Anandapur, Kolkata, resulted in the deaths of 50 people, including workers from multiple units; one of the affected facilities was a warehouse leased by Wow! Momo.[19]