Wow! Momo strengthens its founding team, elevates its CMO Muralikrishnan as Co-Founder

• Murali joined Wow! Momo as the Chief Branding officer in 2018 and later elevated to CMO.
• From playing a pivotal role in creating the omni-channel to nurturing the delivery business exponentially, Murali has been the 4th pillar to the existing 3-member founding team.
• Muralikrishnan to part of the board of directors with this development. 

Wow! Momo Foods that operates with 3 Brands; Wow! Momo, Wow! China and Wow! Chicken, elevates CMO Muralikrishnan as Co-founder. With this development, Murali also became part of the company's board. 

Muralikrishnan as Co-Founder

Murali has been associated with Wow! Momo since inception; however officially joined the founders in the year 2018. Murali began by leading the store-level growth hacking to brand development and was later named as the group’s CMO.

Murali has been a key pillar in building the Delivery and Omni-Channel verticals of the brand; he also set up the entire martech stack, a strong communication platform, intra-tech initiatives and an in-house 360-degree marcom suite. Murali has also been the crucial catalyst in launching the FMCG vertical & other QSR Brands Wow! China and Wow! Chicken.

“I have known Murali for half of my life now; he has a rich advertising background and his storytelling experience is unmatched today & handling his experience in brands, both from start-ups to national and international brands has added a strong versatility in his approach. He brings a strong consumer perspective to the table, which is the need of the hour for us as we are growing over a 100% CAGR. As he puts it; He is not only our CMO he is our Chief Relevance officer. As a progressive company, we feel we need to share the wealth to make wealth; that’s what our philosophy has always been,” said Sagar Daryani, CEO & Co-Founder of Wow! Momo.

Launched in August 2008, the multi-billion-rupee QSR chain currently has over 500 outlets in 25 Indian cities; aims to enter over 100 cities soon. The brand also intends to fortify its FMCG vertical; its has recently hired a CEO for the FMCG vertical and is looking to strengthen its team from ecom to modern retail. Currently serving variants of RTE momos; intends to enter cuppa noodles, sauces and other RTE Indian & oriental snack segments by Q2 FY23.

Last month, Wow! Momo had raised INR 125 Crores at a staggering valuation of INR 2125 Crores. Wow! Momo has successfully created a category and converted a small road-side snack into a formidable national brand across the country; similarly with Wow! China its redefining Desi Chinese taking it to the Pan-India audience and the recently launched Wow! Chicken aims at Indianizing fried & grilled chicken in the country.

Wow! Momo raises INR 45 Cr debt funding from Anicut Capital, Repays Back old Debt from Avendus Finance

• Debt goes towards old loan repayment of INR 35 crores to Avendus Finance raised in 2018 and fresh influx of Growth capita
• The Company has availed the Loan Facility of INR 45 Crores now with an option to raise another 15 Crores by April 2021.
• Business is back to 65 % of Pre-Covid Numbers & is expected to touch 75 to 80 % of Pre-Covid numbers for October, 2020, keeping the festivity season in mind.

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Wow! Momo Foods -- which owns and operates two quick-service restaurant brands Wow! Momo and Wow! China – today announces raising 60crores debt funding from Anicut capital as it sees a bounce-back from the slowdown witnessed as the coronavirus crisis took hold. While a number of restaurant chains in India have filed for bankruptcy due to the on-going pandemic, Wow! Momo on the other hand continued to expand even at the time of global crisis.

From launching a new business vertical during lockdown to new outlets - to being the fastest to bounce back Wow! Momo has ensured they run, walk or crawl but never stop. One of the largest QSR chain in India, Wow! Momo currently has a total of 357+ stores across Delhi, Mumbai, Bangalore, Pune and Kolkata. Out of this 290+ are currently operational and over 60 of them are still shut & Yet to re-open.

From plummeting to 10 % of monthly business in April 2020 as compared to February 2020 to 65% of topline in September, the company is growing stronger with delivery business getting back to 180% if compared to pre-covid times. Wow! Momo recorded a whopping 3 lakhs online orders last month. The company expects to get back to 75 % to 80 % of Pre-Covid numbers in Octoberr with an aim to touch 4 lackhs online orders.

Talking about the announcement, Sagar Daryani, CEO & Co-Founder at Wow! Momo Foods, commented, "Ours has been a story of agility and adaptability. These crucial times may have brought our business down initially but we always found new ways and undertook initiatives which helped us stay afloat. We have been more robust than ever with a change in business models, newer collabaration with Café Coffee Day to open Shop-In- Shop formats. Setting up new business verticals & total of 31 new point of sale opening in past 6 months. We have also taken a conscious call to shut down over 30 non performing Outlets nationally & the compete focus is to get back to profitability at the earliest as was the scenario in Pre-Covid times "

Wow! Momo has been backed by The Indian Angel Network & Light House Funds in the past. Last year the company was valued at over INR 860 crores by US based Tiger Global with an infusion of INR 120 crores directly into the business & an additional 60 crores as a secondary partial exit to members of The Indian Angel Network who made a whopping 8x return against their initial investment.