Exclusive: Whoa! Momo is expected to raise $8.5 million in the current round.

Chain of quick-service restaurants Whoa! Momo is now seeking Rs 75 crore, or roughly $8.5 million, in its Series D round, which is being headed by 360 ONE and includes Kyrush Investments. Three months after Stride Ventures provided the company with debt finance of Rs 85 crore, the new investment was made.  Wow, with this! Over Rs 650 crore has been invested in Momo overall through its Series D financing. According to Wow! Momo's regulatory filings obtained from the Registrar of Companies (RoC), the board has decided to issue 7,837 Series D6 CCPS at an issue price of Rs 95,699 per share in order to raise Rs 75 crore.In this round, Kyrush Investments will contribute the remaining Rs 4.99 crore, while 360 One would invest Rs 70 crore. Entrackr estimates that the company's post-money valuation is between Rs $315 and Rs 320 million.

These earnings will be used by the business for general corporate objectives, working capital needs, and capital expansion. According to the company's filing, Kyrush Investments will own 0.18% of the company, while 360 One Portfolio will control 2.53%.Wow! was introduced by Sagar Daryani and Binod Homagai in 2008. Momo owns brands including Wow! and runs more than 700 stores across 70 locations. Momo, Whoa! Wow, China! Wow, and chicken! Kulfi. In the following three years, the company also intends to build its HORECA sector, increase its FMCG business to Rs 100 crore, and open 1,500 outlets in 100 locations. Wow, according to the new data intelligence platform TheKredible! From Rs 413 crore in FY23 to Rs 470 crore in FY24, Momo's operating revenue increased 13% annually. In FY24, it continued to incur consistent losses of Rs 114 crore. The business has not yet disclosed its FY25 financials.