Wow! Momo Taps Avendus conducts a new fund round; Lighthouse funds are completely withdrawn
Mumbai: Wow! Momo Mint.
“The Lighthouse has been investing for a long time and will completely withdraw from the shares through this round,” one of the people said.
Avendus, wow! Momo and Lighthouse funds did not immediately respond to Mint’s request for comment.
Lighthouse’s exit will come nearly eight years after the company’s initial investment in WOW! Momo’s B series, the company raised ₹In June 2017, Rs 4.4 crore was conducted with the Indian Angel Network. At that time, the company’s value ₹23 billion.
The company is still raising ₹According to part of the sponsor family behind India’s leading snack brand Haldiram, Malaysia’s sovereign wealth fund Khazanah nasional Berhad, a 13-15 billion bridge led by Kamal Agrawal. Economic times Earlier today.
The second person mentioned above said the company is also in discussions with HNIS and other existing investors.
Lighthouse has partially withdrawn from the company’s shares over the years and is currently worth Over ₹According to data provided by market intelligence provider TracXN, it is 24 billion. Last year, wow! Momo lifts up ₹Z3 partner-led 700 million Series D financing rounds were secured after ₹Rs 4.1 crore from Malaysian sovereign wealth funds Khazanah and Oaks Asset Management.
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The company was launched in 2008 by Sagar Daryani and Binod Homagai, which operates over 680 WOWs! Mom, wow! China, wow! Chicken and new launch wow! Kulfi is located in 60 cities.
Earlier this year, Daryani stressed that the company’s new verticals, such as Kulfi and FMCG businesses, are expected to be a huge contribution to its overall business. The company aims to enter more than 100 cities through more than 1,500 stores over the next four years.
In fiscal year 24, its operating revenue increased to ₹47 billion ₹4.13 million a year ago. The company’s losses are ₹1.14 million, a margin increase from the 23rd fiscal year.
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