Indian fast food chain "Wow! Mom" received US$6.1 million in financing, and orders gradually returned to pre-pandemic levels

 According to foreign media Vccircle, the fast food chain "Wow! Mom" ​​has received 450 million rupees (about 6.1 million US dollars) in debt financing, and the investor in this round of financing is Anicut Capital. The company said in a statement that the funds will mainly be used to repay old debts to Avendus Finance.


In 2008, "Wow! Mom" ​​headquartered in Kolkata was founded by Binod Kumar Homagai, CEO Sagar Daryani and Shah Miftaur Rahman. The company is a fast food chain that has already cooperated with the Indian Trade Center (ITC), Nestlé and Procter & Gamble, and has established contacts with Haldiram. Haldiram will manage the company's delivery services in eastern India. In addition, the basic product delivery work of "Wow! Mom" ​​will be completed by the Swiggy platform.


The company will also develop a web application to enable customers to enjoy takeaway services more conveniently. Most importantly, "Wow! Mom" ​​is building an internal technical model at all levels from food production to delivery. Its purpose is to minimize human intervention and better improve the quality, speed and scale of services. By integrating machine technology, the company aims to ensure that food hygiene is not compromised.


Currently, "Wow! Mom" ​​has more than 300 stores in Delhi, Mumbai, Bangalore, Pune and Kolkata. But 290 stores are now open, because in more than six months, the company had to close nearly 30 stores due to the COVID-19 pandemic.


It is understood that in the last month, "Wow! Mom" ​​has generated nearly 300,000 online orders. It expects to restore the order volume to 75% to 80% of the order volume before the COVID-19 pandemic in October, hoping to reach 400,000 online orders.


Sagar Daryani said that "Wow! Mom" ​​aims to improve its own business capabilities. The company's business model has changed. It has launched a new cooperation with Café Coffee Day to open a store-in-store format and establish a new business vertical market. In the past 6 months, the company opened a total of 31 new sales points.







In recent months, in addition to "Wow! Mom", the fast food restaurant industry has other financial transactions. In September of this year, the Burger chain Burgerama received a round of financing led by early-stage venture capital fund Madison Capital.


At the beginning of the same month, Burger King India postponed its initial public offering plan due to the pandemic, thereby obtaining new private equity capital. In December 2019, Gulgram-based Burger Singh received undisclosed funding, led by Singapore-based early investment company RB Investments.


Sagar Daryani said that "Wow! Mom" ​​plans to obtain 10-12.5 billion rupees in the next round of equity financing in the middle of next year. Tiger Global Management may be an investor in this round of financing.

Comments

  1. OrderartAugust 27, 2021 at 10:28 AM

    Thanks for your post. It's very helpful post for us. You can also visit Restaurant Online Ordering System for more Victor Steel related information. I would like to thanks for sharing this article here.

    ReplyDelete

Post a Comment

Popular posts from this blog

It is inevitable for technology companies to enter the market to build cars

Image
  The matter of building a car has changed. Since 2014, building a car has become the most desirable thing for entrepreneurs.  Not only are successful entrepreneurs working hard to start their second and third ventures, but countless "grassroots" teams have also begun to move around, as if the threshold of building a car was suddenly pulled to non-existent. But facts have proved that there are indeed barriers to building cars, and it limits most players.  Li Bin, the founder and chairman of Weilai  Automobile  , once said that an electric car company needs at least 20 billion yuan to reach mass production. Xiaopeng Motors Chairman He Xiaopeng also sighed: "It used to be an exaggeration to see others making cars. I jumped in and realized that 20 billion is not enough to spend.” In the end, the new car-building forces ran out of three first-tier players, but at the same time it also made people realize how difficult it is for a new company to build cars. People's attit
Read more

Tesla released a major facelift, Model S Plaid, which is as different as ever

Image
  The news of the newly redesigned 2021  Tesla  Model S was suddenly mentioned by Musk at the beginning of the year. Everyone was pleased with the Model S that had not been updated for a long time.  However, when the pictures came to light later, everyone found that the change didn't feel much, and there was almost no change in appearance. Tony teachers just repaired it and it was over.  However, after the interior was exposed, everyone found that it seemed like a new generation without looking at the exterior, which was shocking.  Many people still don't believe that this is the real car, so today Musk will give you an official announcement. Currently the fastest mass-produced electric car Today, Tesla officially released Model S Plaid, and it was also a delivery ceremony. Excited Musk specifically brushed  a  track out of the  Fremont factory  , and then drove directly to the stage. Two days ago, Musk just announced the cancellation of the Plaid+ version. The reason was that
Read more

Who is the "stumbling block" that prevents Tesla from going to the countryside?

Image
  New energy is the trend of automobiles, and the sinking market is the vast world of new energy automobiles.  However, for many new energy vehicle brands, there is still a long and rugged mountain road to go before they truly reach the "willows and flowers in another village". New energy vehicles are accelerating toward the sinking market, looking for new incremental space. However, for more new energy vehicle brands, how to break the dilemma of low prices in the sinking market, increase the added value of products, and obtain more profits in addition to the increase in sales are long-term problems that need to be faced. On the other hand, after  Baidu  , Xiaomi also intends to enter the game. Traditional car companies continue to launch new new energy brands, and more and more players are entering the game. In 2020, the power of new cars will usher in strong growth, and  Tesla  will also achieve sales of over 100,000 vehicles in the Chinese market.  Many high-end brand new
Read more