Stride Ventures Invests INR 85 Crore in Wow! Momo
Stride Ventures has announced a debt investment of INR 85 crore in Wow! Momo Foods, one of India's leading quick-service restaurant (QSR) chains. The funding will be used to refinance existing loans and power the company's expansion across its QSR and fast-moving consumer goods (FMCG) verticals.
Wow! Momo Foods, which houses brands including Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi, currently operates over 700 self-owned outlets across more than 70 Indian cities. The company has become a category-defining force in India's QSR landscape, demonstrating industry-leading same-store sales growth and a highly scalable omnichannel strategy encompassing dine-in, delivery, and FMCG formats.
The brand's focus now includes scaling its FMCG vertical to INR 100 crore and aggressively expanding its newly launched HORECA (Hotel, Restaurant and Catering) division. The company also plans to expand its retail footprint to over 1,500 stores across more than 100 cities in the next three years.
"The support from Stride Ventures marks a pivotal moment in our journey of redefining Indian QSR. With their partnership, we aim to scale new heights, introduce new formats, and continue building brands that India can be proud of," said Sagar Daryani, Co-founder and CEO of Wow! Momo.
Apoorva Sharma, Founder and Managing Partner at Stride Ventures, added, "Wow! Momo is a reflection of India's evolving consumer story. Their passion for innovation and scale makes them a standout player in the food services sector. We are proud to support their journey as they continue to bring their culinary creations to every corner of the country."
This debt investment marks another step in Stride Ventures' mission to back high-growth, category-leading startups. The firm remains focused on supporting businesses that are reshaping India's consumer and economic landscape through innovation and execution at scale.
With an ambitious roadmap and a visionary founding team, comprising Sagar Daryani, Binod Homagai, Miftaur Rahman, and Murali Krishnan, Wow! Momo is poised for high-decibel growth across multiple channels over the next 24 to 36 months.
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