Indian fast-food chain Wow! Momo has announced a significant boost in its financing with a $9 million injection in an expanded Series D funding round from Z3 Partners. This recent funding brings the total raised in this round to $51 million, which includes $34 million in primary funding and $27 million in secondary funding.

Earlier participants in this round included the Indian Angel Network and Lighthouse Funds, which contributed through a secondary acquisition. The initial phase of the Series D funding in January secured $42 million, led by Khazanah Nasional Berhad, which significantly contributed to the company's current valuation of over $300 million, as reported by TheKredible.

The Kolkata-based company, founded by Sagar Daryani and Binod Homagai, operates under the Wow! Momo Foods umbrella, which includes Wow! Momo, Wow! China, and Wow! Chicken. Currently, Wow! Momo boasts 630 outlets across 38 cities and employs a direct workforce of 6,000 individuals.

With the latest funding, Wow! Momo plans to enhance and expand its quick-service restaurant brand, improve distribution channels, and invest in research and development for its FMCG sector, which it entered in July 2021.

For the fiscal year 2025, Wow! Momo aims to increase its footprint by adding 200 more outlets and targets a revenue projection of $83-89 million, up from $55 million in FY23. The company's financial growth is evident, as its operational revenue doubled to $28 million in FY22 from $13.5 million in FY21.

This strategic funding and expansion plan underscore Wow! Momo's commitment to strengthening its market presence in India's competitive food service industry and enhancing its product offerings to meet the evolving tastes and preferences of consumers.