Wow! Momo’s evolution is really captivating. To begin with, it all came from an investment of merely ₹30,000, and later it turned into a multi-brand, billion-rupee Quick Service Restaurant (QSR) empire. This made-in-India brand has elevated the once humble momo, a local street snack, to a fast-food phenomenon across the country, thus showing that innovation coupled with a hygienic focus can change the whole category.
As of 2025, the company has gone beyond 780 stores in over 75 cities, and it is intensely going for the feat of crossing the ₹1,000 crore revenue mark. Having a family of successful brands, such as Wow! China, Wow! Chicken, and the latest Wow! Kulfi, it is clear that the company is following a multi-brand strategy. Additionally, the company becoming an attractive investment for global investors like Tiger Global and Khazanah Nasional has solidified its position as a high-growth unicorn, which is indicative of the vast potential of its business model.
Presently, Wow Momo’s net worth, along with its remarkable market position, is a reflection of the founders’ foresight for the mass market and their capability in running the business effectively. In this article, we shall delve into the financial aspects, growth plan, and prospects of this Indian QSR giant, which is the main reason behind the Wow Momo net worth and valuation.
Rise of Wow! Momo as India’s Fast-Food Unicorn
Wow! Momo’s rise is among the most interesting success stories of Indian startups in the food field. Established in 2008 in Kolkata, the brand has been able to expand rapidly due to its three core principles: standardization, quality, and endless product innovation. They transformed a totally unorganized but popular street food into a professional, hygienic, and diverse product that instantly won the modern Indian consumer.
- From Kiosk to Chain: The brand was initially a small kiosk, but very soon, the standardization of the central kitchen model made the brand scalable without quality and taste consistency across cities being affected.
- The Multi-Brand Leap: The new products – Wow! China launched in 2019, and Wow! Chicken in 2022 signaled a strategic shift towards becoming a dominant, multi-cuisine QSR house rather than a momo-specific chain only. Such diversification is the main reason for the perpetually increasing Wow Momo net worth.
- Funding Confidence: The heavy lifting on their side has come from the very best international and local investors who have put their money behind the model and thus have made available the capital for their aggressive national expansion and new brand development.
Metric Details
| Metric | Details |
| Founded Year | 2008 |
| Brands Operated | Wow! Momo, Wow! China, Wow! Chicken, Wow! Kulfi |
| Total Funding Raised (as of June 2025) | ~$152 Million (over 14 rounds) |
| Total Outlets (Late 2025 Estimate) | Over 780+ (Across 75+ cities) |
| Primary Focus | Quick Service Restaurant (QSR) and Fast-Moving Consumer Goods (FMCG) |
Wow Momo Net Worth: Valuation and Growth
Wow Momo net worth at present is mirrored in its solid valuation, which has been progressively growing over the recent years, notably after its Series D funding rounds.
Approximate Valuation of Wow! Momo Foods Pvt Ltd
In April 2024, the post-money valuation of the company was quite impressive, i.e., ₹2,740 Crore (about $330 million). This valuation is undoubtedly going to extend further with the most recent funding rounds of 2025 and the ambitious aim of having an IPO somewhere between 2028 and 2029.
It is anticipated that the additional 2025 bridge rounds (in which Khazanah Nasional Berhad and Kamal Agrawal (Haldiram’s Nagpur owner) were involved) will be the reason that the Wow! Momo’s net worth figure will become even more solid.
Valuation Growth Timeline (2019–2025)
| Year | Milestone/Funding Round | Estimated Valuation |
| Sep 2019 | Tiger Global Investment | ~₹860 Crore ($120 Million) |
| Jan 2024 | Series D (Khazanah, OAKS) | Over ₹2,400 Crore |
| Apr 2024 | Post-Money Valuation | ₹2,740 Crore |
| 2025 | Ongoing Series D & Bridge Rounds | Set to increase from ₹2,740 Cr base |
Wow! Momo Revenue & Turnover (Year-Wise Analysis)
The firm’s revenue growth has been accompanied by a decrease in the percentage of
Wow! Momo Turnover 2025 – Latest FY24–FY25 Revenue Estimates
During the Financial Year ending March 31, 2024 (FY24), Wow! Momo reported an operating revenue of ₹470 Crore (a 14% year-on-year growth). The company has set a very aggressive revenue target of ₹900 Crore for the current fiscal year (FY25), which is almost double the scale and will have a significant impact on the overall Wow Momo net worth.
Year-wise Revenue Table (2020–2025)
| Financial Year (FY) | Operating Revenue (₹ Crore) | Year-on-Year Growth |
| FY20 | ~₹110 Crore | – |
| FY21 | ~₹106 Crore | -3.6% (Pandemic Impacted) |
| FY22 | ~₹220 Crore | 107.50% |
| FY23 | ~₹413 Crore | 87.70% |
| FY24 | ₹470 Crore | 13.80% |
| FY25 (Target) | ₹900 Crore | 91.50% |
Wow Momo Founders & Leadership
The entrepreneurial spirit of the founders is central to the company’s growth story and the solid Wow Momo net worth today.
Who is the Founder of Wow! Momo?
Wow! Momo was co-founded in 2008 by four college friends:
- Sagar Daryani
- Shah Miftaur Rahman
- Murali Krishnan
- Binod Homagai
Who is the CEO of Wow! Momo?
Sagar Daryani is the Co-Founder and CEO of Wow! Momo Foods. His idea of transforming momos into a worldwide fast-food must and his concentration on new product development, like the popular Moburg, have been instrumental in the brand’s success. Along with that, Binod Homagai is the Co-Founder and COO who is in charge of the key areas of operational excellence and supply chain.
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Wow! Momo Outlets & Expansion Strategy
The company’s footprint is basically one of the most
Wow! Momo Total Outlets (2025)
Wow! Momo had more than 780 stores in over 75 cities in India as of late 2025. This is a massive expansion from the 630 stores that were reported in early 2024.
Expansion Strategy
Wow! Momo’s strategy is designed for mass-market dominance and is focused on three key areas:
- Multi-Format Scaling: They adopt a versatile approach that includes small, cheap kiosks (malls and tech parks are the primary locations), high-street dine-in restaurants, and cloud kitchens, which facilitates quick expansion in both metros and Tier 2/3 cities.
- Brand Stacking: The company operates several brands (Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi) that are often sourced from a single kitchen or a shared cluster, thus allowing them to serve various customer needs and optimize kitchen utilization.
- FMCG and HORECA: Besides their QSR chain, they are rapidly developing the market for packaged frozen momos, cup noodles, and other ready-to-eat products in the Fast-Moving Consumer Goods (FMCG) segment. Besides that, the HORECA (Hotel, Restaurant, and Catering) sector, where they provide services to other businesses, also has significant growth potential.
Is Wow! Momo Successful?
Wow! Momo is, to a great extent, notably successful, and the proof of this can be found in its leadership position in the local QSR scene and the ability to open up a whole new market segment quickly. Though it does not compete directly with global burger or pizza chains on a like-for-like menu basis, the scale of its operations is on a par with the leading players, which is the main reason behind the high Wow! Momo’s net worth.
Market Share in the Indian QSR industry
Wow! Momo takes the cake in the Momo QSR market segment with no visible competitors. The overall QSR market will have a volume of $38.71 billion by 2029, and Wow! Momo’s local revenue of ₹470 Crore (FY24) level ranks them as one of the fastest growing domestic players, thus the international brands will be dominated by the aggressive market share that they chip away at.
Comparison with Major Competitors
| Company | Core Product Focus | Operating Revenue (FY24) | Approx. Store Count (FY24) | Financial Scale vs. Wow! Momo |
| Wow! Momo | Niche/Fusion QSR: Momos, Indo-Chinese (Chindian), Fried Chicken (Multi-brand) | ₹470 Crore | 630+ (Across Wow! Momo, Wow! China, Wow! Chicken) | Base (1.0x) |
| Domino’s (Jubilant FoodWorks) | Global QSR: Pizza and Italian sides. | ₹5,370 Crore+ | ~1,995+ (Domino’s India stores) | ~11.4x Higher |
| McDonald’s (Westlife/CPRL) | Global QSR: Burgers and Western Fast Food. | ~₹2,200 Crore+ (Estimated combined revenue for both franchisees) | ~600+ (Total India Stores) | ~4.7x Higher |
| Burger King (Restaurant Brands Asia) | Global QSR: Burgers and Western Fast Food. | ~₹1,670 Crore+ (India & Indonesia Revenue) | ~500+ (Burger King India Stores) | ~3.6x Higher |
| Haldiram’s | Indian Heritage: Sweets, Namkeen (FMCG) & Traditional Indian Casual Dining (Restaurant Vertical) | ₹12,800 Crore (Total Haldiram Snacks Food – FMCG + Retail) | ~150+ (Restaurant/QSR Outlets) | ~27x Higher |
Why Investors Bet on Wow! Momo
Investors like Tiger Global and Khazanah Nasional are backing the company because they see a highly scalable, domestic-first business model with strong market leadership. They believe the massive future is for several reasons, which are as follows:
- Category Creation: Wow! Momo pretty much created the organized momo market in India. The first-mover position is giving them a massive advantage.
- Operational DNA: The centralized supply chain combined with the standardized preparation process is the main reason for the brand’s consistent quality, which is an essential feature of a QSR model and one of the biggest challenges for other food brands.
- Multi-Brand & Omnichannel Strategy: The management team behind the launch and the later scaling of Wow! China and Wow! Chicken is clearly able to transfer the QSR model it’s developed to other areas of the food industry, mainly to different cuisines. In addition, a strong presence on delivery platforms such as Swiggy and Zomato, along with the entry into the FMCG business, offers multiple, future-proof revenue streams.
- Product Innovation: The continuous ability to expand the menu with interesting and new items like MoBurgs (Momo Burgers), Mocha Momos, and Chocolate Momos not only attracts the youth audience but also encourages them to come back.
Wow! Momo Funding & Investors
Wow! Momo has raised cumulative funding of about 14 rounds totaling $152 million. Such a robust funding record is in line with the high Wow! Momo’s net worth.
- Major Investors: Tiger Global Management, Khazanah Nasional Berhad (Malaysian Sovereign Wealth Fund), Lighthouse Funds, OAKS Asset Management, Stride Ventures, and 360 ONE Asset.
Business Model of Wow! Momo
The vertically integrated and innovative business model of Wow! Momo is the core of its operational efficiency and high Wow! Momo’s net worth.
- QSR Model with Centralized Kitchens: To manage the primary operations, the company follows a Company-Owned, Company-Operated (COCO) model along with a franchise model. More importantly, cloud kitchens are centrally managed in each city to both prepare and deliver standardized, pre-mixed ingredients to all outlets by way of chilled vehicles. In this way, the standardization of quality and the hygiene of food are ensured, and the time for preparation is cut down at the level of the store.
- Product Innovation: Product innovation has always been the lifeblood of the brand. It perpetually invents new ways of “fusion” food that combines the trendiest momo with global and Indian favorites like the famous MoBurg, Tandoori Momos, Cheese Momos, and dessert Momos such as Chocolate Momos.
- Omnichannel Presence: The company ensures customers can access its products anytime, anywhere.
- Delivery Partnerships (Swiggy/Zomato): Good utilization of online delivery platforms is the company’s primary strategy to gain access to the rapidly growing digital ordering market.
- Revenue Channels: The brand’s revenue is diversified across:
- Dine-in/Takeaway from their high-street and mall outlets.
- Online Delivery via aggregators and their own app, Wow1 Eats.
- Retail Packaging via their progressing FMCG line of frozen momos and ready-to-eat products.
Challenges & Future Growth
Despite the Wow! Momo’s net worth and scale are quite impressive; the company is grappling with two primary challenges: maintaining consistent profitability and sustaining growth. Although the company has grown its operating revenue, it posted a flat net loss of ₹114 Crore in FY24, which implies that the high cost of aggressive expansion and marketing is still far from being balanced by profits.
Challenges:
- Food Delivery Commissions & Margin Squeeze at High Levels: The high commissions that are charged by third-party delivery partners like Swiggy and Zomato eat up the profit margins to a great extent and put a lot of pressure on the unit economics of the business.
- From Loss to Profitability: The main financial problem that lies ahead is turning the strong top-line growth into steady net profit, which in turn would be the reason for the increase in Wow! Momo’s net worth before the planned IPO.
- Fierce Competition from the Unorganized Sector: It is difficult to hold on to the market share and the price levels because of the vast, low-priced competition from local, unorganized street food vendors.
- Ensuring the Quality and Stability of the Product at a Huge Level: The extremely rapid expansion of hundreds of stores and several brands poses a significant challenge from an operational point of view in terms of ensuring the same taste and quality all over the country.
- Supply Chain Challenges and Cost Control: On top of controlling the rise in raw material prices, it is essential for the company to be able to continue to improve its overall gross margins while managing a large, fully integrated supply chain.
Future Growth is focused on:
- The ₹1,000 Crore Goal: Targeting ₹900 Crore of revenue for FY25 and ₹1,100-1,200 Crore by 2028-2029, the main driver being outlet expansion.
- Number of Stores: The company has a plan to get to 1,000 stores in the next 18 months and spread its footprint over 100 cities.
- IPO Readiness: As the company prepares for an Initial Public Offering (IPO) that is planned for 2028 or 2029, it is actively working to improve unit economics and profitability.
Conclusion
The rise of Wow! Momo from a simple, local concept to a QSR giant with a multi-crore Wow Momo net worth is a pretty impressive case study of Indian entrepreneurship in the 21st century. By taking a product that was very local and combining it with global QSR standards of hygiene, consistency, and innovation, the company has essentially invented a whole new market.
With the number of outlets already exceeding 780, an aggressive revenue target for FY25, and a strong pipeline of strategic funding, the company is definitely on the right track to be the next big winner of India’s booming food service industry. The long-term goal of becoming profitable and eventually listing on the public market will be the one to truly unlock the massive potential of the present Wow Momo net worth.
FAQs
What will be the estimated Wow Momo net worth/valuation in 2025?
The last reported post-money valuation after early 2024 was above ₹2,740 Crore (roughly $330 million), and it is pretty likely to go up with the further 2025 funding rounds.
Who are the founders of Wow! Momo?
The company was established by four people: Sagar Daryani (the CEO), Shah Miftaur Rahman, Murali Krishnan, and Binod Homagai in 2008.
What was Wow! Momo’s revenue in FY24 (Financial Year 2024)?
In FY24, Wow! Momo’s operating revenue (ending March 31, 2024) was ₹470 Crore, which is 14% higher than the previous year.
How many outlets does Wow! Momo have in 2025?
By the end of 2025, the company will have more than 780 stores across its multiple brands, which are located in over 75 cities in India, and there are plans to get to 1,000 stores soon.
How many employees does Wow! Momo have?
The company has a large workforce, with an estimated employee count of over 6,000 as of the second half of 2025, which supports its vast network of outlets and multiple brand operations.
