|Industry||Food and beverage|
Fast food restaurants
|Founder||Sagar J. Daryani|
Binod K. Homagai
|Headquarters||Raja S. C. Mullick Road,|
Number of locations
|Sagar J. Daryani (CEO)|
Binod K. Homagai (COO)
Shah M. Rahman (CFO)
|Revenue||₹180 crore (FY 2019)|
Number of employees
|Parent||Wow! Momo Foods Private Limited|
Wow! Momo is an Indian chain of fast food restaurants headquartered in Kolkata. The chain specializes in momos, momo-filled burgers (MoBurgs) and momo-based desserts. It was established in 2008 by St. Xavier's College alumni Sagar Daryani and Binod Homagai.
As of March 2021, there are around 350 outlets across 17 cities in India. The company aims to be an IPO in a few years with plans to gain a global foothold, i.e., they want to compete with the likes of Domino's and McDonald's.
The founders of Wow! Momo, Sagar Jagdish Daryani and Binod Kumar Homagai, first met each other at St. Xavier's College during their undergrad. 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). While Daryani looked after brand expansion, marketing and retail operations, Homagai focused more on production and quality control. They were later joined by another St. Xavier's alumnus and friend Shah Miftaur Rahman, who took the responsibility of cost control and finance.
Wow! Momo, in June of 2017, managed to raise ₹44 crore from Lighthouse funds and through investments by Indian Angel Network. 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). And in September of 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.
Awards and recognition
- Best Dim-sum product chain – Indian Restaurant Congress Award 2016
- Best Unique Retail Concept Award – Images Retail Award 2017
- Coca-Cola Golden Spoon Award – Best Quick Service Restaurant in Indian origin 2018
- Coca-Cola Golden Spoon Award – Best Innovation in Store Design 2018
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