Fast food chain Wow! Momo today said it has raised Rs 44 crore in Series B funding from venture capital firm Lighthouse Funds and angel investor group Indian Angel Network (IAN). The latest round of funding led by Lighthouse Funds, which invests in mid-market consumer-driven firms, values the company at Rs 230 crore, the Kolkata-based firm said in a statement. Besides, it also provided “a highly profitable” exit to the tune of Rs 10 crore to some of the IAN investors who decided to sell their shares partly/completely to Lighthouse, it added.

reported PTI.

Lighthouse Funds invested Rs 40 crore and India Angel Network invested 4 crore into the 115-pan-India-outlet-strong momo chain.

Khaitan & Co acted for Wow Momo Foods Pvt Ltd according to its press release, led by partner Arindam Sarkar, principal associate Suhana Islam, senior associate Prithwijit Gangopadhyay and associate Shourya Sengupta.

The team was also assisted with “specialist inputs” from partner Supratim Chakraborty. Due diligence drafted in principal associate Gaurav Dasgupta, principal associate Gautam Banerjee, associate Nikita Bhuwania and associate Aritri Roy Choudhury.

Direct tax principal associate Asim Choudhury and associate Rohan Poddar also advised.

Luthra & Luthra partner Amit Shetye acted for Lighthouse and the Indian Angel Network.