Tuesday, November 5

Tag: Sachin Bhartiya

Wow! Momo raises Rs 44 crore from Lighthouse Funds, IAN
FUNDING

Wow! Momo raises Rs 44 crore from Lighthouse Funds, IAN

Fast food chain Wow! Momo today said it has raised Rs 44 crore in series B funding from venture capital firm Lighthouse Funds and angel investor group Indian Angel Network (IAN). The latest round of funding led by Lighthouse Funds, which invests in mid-market consumer-driven firms, values the company at Rs 230 crore, the Kolkata-based firm said in a statement. Besides, it also provided "a highly profitable" exit to the tune of Rs 10 crore to some of the IAN investors who decided to sell their shares partly/completely to Lighthouse, it added. Commenting on the development, Wow! Momo co-founder and CEO Sagar Daryani said: "Funds raised in the current round will be used for expansion and building of back-end infrastructure for the brand." The company said it has a long-term goal of doing...