It is a dream to start with 30,000 borrowed money, which was given by your parents, and build it into a company worth thousands of crores. It reads like a film script does not it? However, to two college friends in Kolkata, this is the real life.
It is a story of WOW Momo.
What began as a small 6 by 6 feet kiosk in 2008 has grown to be the most preferred momo brand in India. In late 2025, there is a WOW Momo outlet in virtually every major mall, airport, and tech park in the country. They did not only sell dumplings, they developed an entire new range of Indian fast food.
This article will involve a simple and easy-to-understand analysis of the WOW Momo Net Worth, their 2025 revenue, their company owner, and how they will continue to grow even more.
WOW Momo Journey: A Quick Look at Their Expansion Story
The novel starts in Kolkata, a city where street food is well known. Sagar Daryani and Binod Homagai were two young friends, who were enrolled in St. Xavier College. They loved momos (who doesn’t?). However, they saw a solution: momos were sold in filthy street corners or in very costly luxury hotels. There was no middle ground.
They saw a gap. They aimed at establishing a brand that would sell hygienic, delicious, and affordable momos that could be trusted.
What started as a small momo stall has now grown into a huge food brand loved across India. The company makes over ₹470 crore in yearly revenue and continues to open hundreds of new outlets every year — now crossing more than 780 stores in 75+ cities. Even big investors like Tiger Global and Khazanah believe in their vision. They’ve also expanded into new brands like Wow! China and Wow! Chicken, and they’re even planning an IPO soon. Selling more than a million momos a day, WOW! Momo has become one of India’s most impressive homegrown success stories.
Their Major Stages in the Path:
| Year | Milestone & Key Metrics |
|---|---|
| 2008 | Founded in Kolkata with ~₹30,000 (small kiosk). |
| 2009–2012 | Local expansion across Kolkata; refined product range (steamed, fried, tandoori). |
| 2013–2016 | Entered major metros (Bengaluru, Delhi, Mumbai, Chennai); accelerated outlet openings. |
| 2017–2019 | Launched new verticals (WOW! China, WOW! Chicken); raised early institutional funding (Lightspeed et al.). |
| 2020–2021 | COVID pivot: bolstered delivery & cloud kitchens; launched FMCG frozen momos and quick-commerce packs. |
| 2022 | Operational scale: 400+ outlets; improved supply chain and manufacturing for FMCG push. |
| 2023 | Major investor interest: Tiger Global and others increased backing; FMCG expansion continued. |
| 2024 (FY24) | Revenue: ₹470 crore; Net Loss: ₹114 crore; continuing national expansion. |
| 2025 (Mid-2025 updates) | Outlets: 780+ across 75+ cities; Bridge funding: ₹130–150 crore (Khazanah + Haldiram promoter); Debt: ₹85 crore (Stride Ventures); FY25 revenue target: ₹650 crore. |
| Valuation / Funding Notes | Lighthouse exit and later rounds imply a valuation ~₹2,400+ crore; multiple institutional rounds validating scale. |
| Operational Metrics | Daily sales: ~1.2 million momo pieces per day (aggregate across formats); product variants ~14+; multi-brand strategy. |
| 2026 (Near-term plan) | Aggressive expansion to 1,000+ outlets, scale FMCG (frozen, noodles), new formats and improved unit economics. |
| 2027 (Ambition) | Target IPO year (company preparing for public listing with multi-brand QSR & FMCG mix). |
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Founders Who Built the Brand
The founders are the heart and soul of WOW Momo. The success of the company is due to their friendship and hard work.
1. Sagar Daryani (Co‑Founder & CEO)
Sagar is the face of the brand. He has been reputed to be energetic and dream big. He also made a famous impression on a supermarket manager who agreed to allow him a place to open his first stall by just trying their momos. He is interested in marketing, branding and developing the business.
2. Binod Homagai (Co‑Founder & COO)
As Sagar works on the front, Binod works on the back. He is the Chief Operating Officer. He makes the momos to be equally delicious in Mumbai, Kolkata or Chennai. He dwells on production, quality and operations.
The extended team
It has a strong leadership team that includes Murali Krishnan (CMO), who assists in creative marketing. They have more than 6,000 employees who are providing employment to many young Indians.
WOW Momo’s Growing Footprint Across India
By the end of 2025, WOW is everywhere – Momo! They are not only in large metropolitan areas but they are also penetrating smaller towns (Tier 2 and Tier 3 cities).
The Numbers at a Glance:
- Total Outlets: Over 780 stores.
- Cities Location: Located in 75+ cities in India.
- New Additions: They have already invested 80 new outlets in the first few months of the 2025 financial year.
They aim to achieve 1,000 stores in the near future. You can find them in high street markets, shopping malls as well as in metro stations. They have also introduced sister brands to provide a greater range:
- Wow! China: To Indian-Chinese food.
- Wow! Chicken: A competing brand of chicken to KFC.
- Wow! Kulfi: For sweet desserts.
Wow Momo Net Worth and Company Valuation (2025)
When individuals inquire about the WOW Momo Net Worth, they are normally requesting the Valuation of the company. This is the approximate cost of the whole company in case one could purchase it now.
Estimated Valuation in 2025
At the end of 2025, WOW Momo Foods Pvt.‛ is estimated WOW Momo Net Worth is 2740 Crores.
This large value is brought about by:
- Brand Trust: Millions of Indians believe in quality of their food.
- Investors: World funds have already invested in the company with the hope that it will continue to expand.
- Assets: They have hundreds of stores and huge central kitchens.
Who backs them? (Investors)
WOW Momo is no longer operating off the money of the founders. Some very big names have funded them:
- Tiger Global: An American investment company.
- Khazanah Nasional Berhad: Sovereign wealth fund of Malaysia (a very prestigious investor).
- Lighthouse Funds: One of the major Indian investment companies.
Founder’s Stake Value
Due to the value of the company, the personal shares of founders Sagar and Binod are also valuable. Their combined value of the company is approximated to be about 1,000 Crores.
WOW Momo Revenue Growth: Year-by-Year Insights
Revenue merely refers to the total sum of money that the company received by selling food excluding any kind of costs (rent, salaries, etc.).
Latest Revenue Estimates (2024–2025)
- FY22: Revenue rose to ~₹219.8 crore (from ₹106 crore in FY21).
- FY 2023 24 (Actual): The company has made approximately 470 Crores to 480 Crores.
- FY2024-25 (Projected): They are looking at a huge leap as they will be targeting 650 Crores or above in sales.
How WOW Momo Makes Money (Business Model Breakdown)
What is the actual way WOW Momo generates revenue? It is not only through selling a plate of steamed momos. Their business model is smart. Wow operates as a business as well as Wow momo franchise model. Like below:
1. COCO Model (Company own, Company operated)
In contrast to most other food brands that offer franchises (when it is other people managing the store), WOW Momo likes to operate its own stores. This is called the COCO model.
- Advantage: They can control completely taste, cleanliness and staff service.
- Consequence: Customer consistency.
2. Hub and Spoke Model
They operate a central kitchen (the Hub) in all cities. Here, the food is semi-prepared and then delivered to the small outlets (the Spokes). This removes the need to produce momos of different tastes in different locations and space in the small stores.
3. Multiple Formats
They do not only have a single shop. They have:
- Kiosks: Small stalls in malls.
- Food Court Outlets: Theaters in cinemas and technology parks.
- Dine-In Restaurants: Sit-down places (primarily Wow!). China).
- Delivery: Zomato and Swiggy orders give them a massive portion of their money.
4. FMCG (Frozen Food)
In the recent past, they have begun as FMCG brand also and started to sell Frozen Momos in supermarkets. You can purchase a packet and take it home and steam it yourself. It is a new avenue of earning money, without having to establish more restaurants.
The Strategy Behind Their Expansion
How did they grow so fast? They have a simple but effective strategy.
1. Innovation (The “WOW” Factor)
They did not simply go with simple steamed momos. They invented:
- Moburg: Two momos (fried) are put inside a burger.
- Sizzler Momos: Momos in hot sauce.
- Chocolate Momos: A sweet version.
These special dishes made people forlorn and made them return.
2. Entering New Markets
They are forcefully penetrating Tier -2 cities (small cities). They knew that even in small towns people desire branded and hygienic street food.
3. Technology
They are utilizing data to determine where to establish the next store and the way they can deliver food in the shortest time.
WOW Momo’s Position in India’s Food Market
Is WOW Momo the king of momos? Yes, in the organized market.
Competitor Analysis
- Street Vendors: The street vendor is their greatest rival as they still sell momos at half the price. WOW Momo scores on hygiene and diversity.
- Zomoz and Auntie Fung: these are also growing chains, however, they are significantly smaller than WOW Momo.
- Large QSR Chains (Dominos, KFC): WOW Momo is competing with them on the snack market. When you are hungry in a mall you have to decide on whether to eat a burger, a pizza, or a Moburg.
Market Share
In India, WOW momo is the present leader in the branded momo segment. They have managed to transform a snack on the side of the road to a branded meal.
| Factor / Parameter | WOW! Momo | Zomoz | Auntie Fung’s | Domino’s | KFC | Street Vendors (Unorganized) |
|---|---|---|---|---|---|---|
| Category | Branded Momo & QSR | Momo QSR | Pan-Asian QSR | Pizza QSR | Fried Chicken QSR | Local momo/snack sellers |
| Scale (Outlets) | 780+ | ~120 | ~40 | 1,900+ | 900+ | Lakhs (unorganized) |
| Presence | 75+ cities | 20+ cities | Limited metro presence | Nationwide | Nationwide | Every city/town |
| Pricing | Mid-range | Mid-low | Mid | Mid-high | High | Very low |
| Product Variety | Very high (14+ momo formats) | Medium | High (Asian bowls, baos) | Medium | Medium | Low |
| Hygiene & Standardization | High | High | High | Very high | Very high | Low |
| Delivery Strength | Strong | Medium | Medium | Very strong | Strong | Dependent on location |
| Brand Recall | Very high | Moderate | Niche | Very high | Very high | High (local but unbranded) |
| Target Audience | Urban youth + families | Urban youth | Asian cuisine lovers | Families + working professionals | Fast-food lovers | Price-sensitive masses |
| Business Model | COCO + FMCG | Mix | COCO | Mix | Mix | Independent |
| Competitive Advantage | Innovation + scale in momo category | Specialty focus | Asian cuisine niche | Distribution + speed | Global brand power | Cheapest pricing |
| Key Weakness | High costs, profitability pressure | Smaller scale | Brand visibility | High competition | High pricing | Hygiene concerns |
Challenges WOW Momo Must Overcome
It’s not all smooth sailing. A successful company is not without problems.
Profitability Struggle
They have high costs as well as high revenue (sales). In the FY24, the firm has indicated that it has incurred a loss of more than 100 Crores. The reason is that they are incurring huge expenses on expansion of new retail outlets and marketing. The investors must be satisfied because they have to make a profit in the near future.
Rising Food Costs
Raw material (vegetables, chicken, oil) cost is increasing. In case they raise the cost of momos excessively, they may lose their customers to street vendors.
Health Awareness
Individuals are now becoming health-conscious. Momos are prepared using Maida (refined flour) which is not eaten by everyone. WOW Momo is attempting to correct this by introducing the product Wheat Momos and Gluten-Free.
The Road Ahead: IPO Plans
By 2027, the largest ambition of WOW Momo is to have an IPO (Initial Public Offering). This is to say that they would like to be listed to the stock market so that even ordinary people like you and I can purchase their shares. To achieve this, they are striving to minimize the losses and raise the sales to ₹1000 Crores.
Final Thoughts
A typical example of Indian entrepreneurship is WOW Momo. Sagar and Binod started with a simple and a popular street snack and created a 2,700 Crore business around it.
They have almost 800 outlets today and a definite vision of the future in 2025. Although they have problems such as increased expenses and the necessity to be profitable, their path up to this point demonstrates that they are familiar with the ability to adjust and succeed.
You may be a fan of their Sizzler Momos or of their Moburgs, but one thing is certain, WOW Momo is not going anywhere and their hunger to grow is as enormous as our hunger to eat their dumplings!
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FAQs
What will the valuation of WOW Momo be in 2025?
The values of WOW Momo are estimated at 2,740 Crores (approximately, 340 Million).
What is the number of outlets operated by WOW Momo?
By the end of 2025, they will have more than 780 stores in 75 cities in India.
Is WOW Momo profitable?
Not yet. They registered a loss of approximately 114 Crores in FY24 since they are incurring very high expenses in expansion.
Who are the WOW Momo founders?
Sagar Daryani and Binod Homagai are college friends who established the company in Kolkata.
