The company, which began with barely Rs. 30,000, now has Rs. 4100000000 in funding

With a mere Rs 30,000 initial investment, Sagar Daryani and his classmate Binod Homagai founded a firm, which has already garnered Rs 410 crore in its most recent capital round. The business in question is called Wow! Initially, Momo had only one table and two part-time chefs. Whoa! Momo’s Series D fundraising round has raised Rs 410 crore, or around $49 million. Leading the funding was Malaysia’s national wealth fund, Khazanah Nasional Berhad, with involvement from OAKS Asset Management.

According to a statement from the firm, Khazanah led the capital round with an investment of Rs 350 crore, with the remaining Rs 60 crore coming from an existing investor, OAKS. Dato’ Amirul Feisal Wan Zahir, Managing Director at Khazanah, says the company wants to support Wow! Momo’s growth through improved scalability, technological reinforcement, and the development of a strong back-end infrastructure to facilitate sustained expansion. Khazanah is well-known for its investments in businesses like Xpressbees, Flipkart, and TransUnion CIBIL in India.

Whoa! Over the next three years, Momo has big intentions to grow from its existing network of 630 shops in 25 locations to more than 1,500 stores, with plans to penetrate over 100 cities. The fundraising round is anticipated to establish the business as a major force in the food sector, with a focus on striking a balance between innovation and sustainability.