Connect with us

Business & Finance

Incredible! Momo secures ₹70 crore in extended Series D funding from Z3Partners

Published

on

Wow! Momo raises ₹70 crore in extended Series D round from Z3Partners

Wow! Momo, a popular quick service restaurant chain, has secured an additional ₹70 crore from Z3Partners in an extended Series D round. This investment comes after the company had previously raised ₹410 crore in Series D funding in January. Established in 2008, Wow! Momo operates under three separate brands and runs over 600 outlets across 38 Indian cities.

The latest infusion from Z3Partners brings the company’s total Series D funding to ₹480 crore, with a significant portion allocated for primary infusion and a secondary purchase of shares from early investors. With a total external funding of over ₹625 crore, Wow! Momo aims to fuel growth, expand its quick service restaurant brand, strengthen its distribution network, and enhance research and development initiatives for its FMCG arm.

The company’s ambitious goal is to have a presence in 100 cities with over 1,500 stores within the next three years. The investment aligns with Z3Partner’s strategy of backing scalable businesses with large addressable markets, showcasing confidence in Wow! Momo’s potential for future success. The intensifying competition in India’s food services market has prompted both international and homegrown chains to ramp up their growth plans, indicating a thriving industry landscape.

Wow! Momo’s continued expansion and strategic investments reflect the company’s commitment to sustainable growth and innovation in the competitive food services market. With the backing of Z3Partners and a clear focus on growth and development, Wow! Momo is poised for further success in the coming years.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Trending