Indian Angel Network invests in Wow! Momo

Wow! Momo plans to open 60 more outlets in the next two years

Indian Angel Network (IAN) has invested an undisclosed amount in Kolkata-based Wow! Momo. IAN will look at nurturing Wow! Momo venture and its team to scale up and standardise momo, IAN said.

Wow! Momo was founded in 2008 by Sagar Daryani and Binod Homagai, alumni of St Xavier’s College, Kolkata.

Bootstrapped with an initial investment of Rs 30,000, Wow! Momo has ploughed back its profits to grow into a restaurant chain of 50 outlets.
 

Wow! Momo serves over 11 different flavours of momos in steamed, fried, pan-fried, sizzler and baked variants across outlets in Kolkata, Bengaluru, Pune, Chennai, Kochi and New Delhi. It intends to open 60 more outlets in the next two years.

"The investment has been raised from IAN for expanding our business across cities, strengthening our presence in the current cities, improving our product range and services, enhancing customer experience and strengthening our core team," said co-founder Sagar Daryani.

"We expect Wow! Momo to soon be a household name in Delhi and the NCR with their current plan of expanding to over 30 outlets here over the next 24 months in high-street locations, outlets in malls in areas such as Lajpat Nagar, Satya Niketan, Prashant Vihar, Kirti Nagar, Dwarka and Noida," said IAN investor Saurabh Srivastava.