Nimish Chaudhary Appointed CTO of Wow! Momo: Leadership Change
Image courtesy of Inc42
Wow! Momo has appointed software veteran Nimish Chaudhary as chief technology officer to oversee the development of its in-house foodtech platform. Chaudhary will lead the development of the QSR unicorn’s foodtech enterprise platform and the Wow! Eats app, focusing on modernizing technology and optimizing operational efficiency across its expanding networks.
Previously, Chaudhary worked as vice president of engineering at Jubilant FoodWorks, where he played a key role in developing its in-house Android-based point of sale (POS) system. His extensive 18 years of experience includes stints at companies like Cisco Systems and Publicis Sapient.
Wow! Momo is heavily reliant on foodtech majors such as Zomato and Swiggy for deliveries, which highlights the importance of developing its own technology.
From QSR To FMCG: Wow! Momo’s Growth Game
Wow! Momo is enhancing its foodtech capabilities while doubling down on its omnichannel strategy and expanding its FMCG portfolio, which includes frozen momos, cuppa noodles, thukpa, and coconut water. The startup is also ramping up its dine-in offerings. To support these initiatives, it raised INR 85 Cr in debt from Stride Ventures this June.
Reports indicate the Kolkata-based startup plans to raise about INR 150 Cr from investors such as Haldiram’s promoter Kamal Agrawal and Malaysia’s wealth fund Khazanah Nasional.
On the financial front, Wow! Momo’s net loss remained relatively stable, climbing just 0.53% to INR 114.4 Cr in FY24. Meanwhile, its operating revenue increased by 13.83% to INR 470 Cr compared to INR 412.9 Cr in FY23.
In FY24, Wow! Chicken was the leading contributor to the overall revenue, accounting for 55% of the share, with Wow! Momo contributing 35%. The QSR chain projects revenues to exceed INR 600 Cr in FY25, as stated in their goal of crossing INR 1,000 Cr before going public in FY27.
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