Quick-service restaurant (QSR) chain Wow! Momo on Tuesday promoted the company's chief branding officer Muralikrishnan to its co-founder and board member.
“Murali brings a strong consumer perspective to the table, which is the need of the hour for us as we are growing over a 100% CAGR...as a progressive company, we feel we need to share the wealth to make wealth; that’s what our philosophy has always been,” said Sagar Daryani, co-founder and chief executive officer of Wow! Momo.
Muralikrishnan had officially joined Wow! Momo's founders in 2018, although he has been associated with the company since inception.
He started with the QSR chain by leading the store-level growth hacking to brand development and was later named as the group’s CMO, the statement added.
Wow! Momo, launched in 2008, has plans to launch 250 additional stores in this fiscal year (FY2022-23). It has also lined up a few acquisitions in pipeline.
The Kolkata-based firm had also launched its ready-to-eat momos under its FMCG category last year. These momos are available on Bigbasket and are available across other e-commerce channels and modern trade platforms.
Last month, VCCircle had reported that Wow! Momo has raised over Rs 125 crore from mid-market private equity firm Oaks Asset Management as part of the first tranche of its Series D round of funding.
The deal was struck at a post money valuation of Rs 2,125 crore.
In early 2019, Wow! Momo had raised Rs 120 crore from US-based marquee hedge fund Tiger Global Management. In 2017, it secured Rs 40 crore from Lighthouse Funds, and in 2015 got money from Indian Angel Network.