Company Name : WOW! MOMO
Funding Amount : Not Disclosed (Valuation $16mn).
Investor(s) IAN .
Funding Round : Angel round
Indian Angel Network (IAN) has invested in Kolkata-based ‘Wow! Momo’ valued over $16 million. Investors from IAN include Sanjeev Bhikchandani, Saurabh Srivastava and Ashvin Chadha, Ajai Chowdhry, Kris Gopalakrishnan, Raman Roy, Anand Ladsariya.
Bootstrapped with an initial investment of Rs.30,000, Wow! Momo has ploughed back its profits to grow into a restaurant chain of over 50 outlets across Kolkata, Bangalore, Pune, Chennai, and Kochi and now Delhi with plans to expand aggressively over the coming months.
Their mantra for success is constant product innovation like Chocolate Momo, MoBurg, Sizzler Momo’s, Baked Momo Augratin etc. because of which their business model is being studied as a case study at various Multi National Organizations and B-Schools.