Wow! Momo taps Avendus for fresh round; Lighthouse funds to go out completely

Copyright © HT Digital Streams Limit all rights reserved. Companies Priyamvada C 2 min Read 18 Apr 2025, 01:23 pm Ist Wow Momo is also raising a £ 130-150 crore bridge round, led by Kamal Agrawal, photo by Indranil Bhoumik/Mint Summary Lighthouse’s exit comes nearly eight years after the investment firm made his initial investment in WOW! Momo’s series B -Round, in which the company collected £ 44 with Indian Angel Network in June 2017. Mumbai: Wow! Momo has appointed Avendus to raise $ 80-100 million in a mixture of primary and secondary stocks with investor lighthouse funds that completely leaves its stake in the Quick Service Restaurant chain, two people familiar with the matter, told Mint. “Lighthouse has been invested for a long time and will leave their interest with this round completely,” one of the people said, adding that Avendus manages the mandate and the company will help raise money from new and existing investors later this year. Avendus, wow! Momo and Lighthouse Funds did not immediately respond to Mint’s request for comment. The exit of the lighthouse will come almost eight years after the firm made its initial investment in WOW! Momo’s series B -Round, in which the company collected £ 44 with Indian Angel Network in June 2017. At the time, the company was valued at £ 230 crore. The company is also in the midst of raising a £ 130-150 crore bridge round led by Kamal Agrawal, part of the promoter family behind the leading snack brand Haldiram, and the Malaysian Sovereign Wealth Fund Khazanah National Berhad, according to a report of economic times earlier. The company is also talking to Hnis and other existing investors for this round, the second person quoted above. Over the years, Lighthouse has partially left its stake in the company, which is currently valued at more than £ 2400 according to the data provided by market intelligence provider TracXN. Last year, wow! Momo collected £ 70 crore in its extensive series D funding round led by Z3 partners after obtaining £ 410 Crore from the Malaysian Sovereign Wealth Fund Khazanah and Oaks Asset Management. Also read: Domino’s to wow! Momo postponed offers in the store as deliveries launched in 2008 by Sagar Daryani and Binod Homagai, and the company operates more than 680 outlets of WOW! Momo, wow! China, wow! Chicken and the newly launched WOW! Kulfi spreads over 60 cities. Earlier this year, Daryani emphasized that the newer vertical vertical, such as Kulfi and the FMCG business, are expected to make a major contributor to its overall business. The company intends to enter more than 100 cities through more than 1500 stores over the next four years. In FY24, revenue from operations grew to £ 470 from £ 413 crore a year earlier. The losses of the company were £ 114, a marginal increase from FY23. Also read: Fast food chains quickly track growth in corporate news and updates on live mint. Download the Mint News app to get daily market updates and live business news. More Topics #StartUp Mint Specials