Business Standard
New Delhi [India], June 23: QSR momo and bao brand, Zomoz has raised INR 5 Cr co-led by The Chennai Angels and Hyderabad Angels to increase its foot print in tier 2 cities in Telangana, Karnataka, Tamil Nadu and Maharashtra. A few HNIs have also participated in the round. The brand currently operates 72 outlets in these four states and is rated the highest among its competitors. The funds raised will primarily be used to increase the outlet count to a 100 within the next 3 quarters. Business Standard
Bolstered by robust unit economics and a very asset-light model, Zomoz has also turned profitable and aims to achieve its target of 100 outlets while maintaining profitability. Business Standard
“We are raising just enough to ensure we don’t burn irresponsibly while scaling up and that means leveraging technology wherever possible to keep operations lean. A striking example of that is going to be our pilot project of using bots to deploy our patented momos in a minute. I feel that can fundamentally change consumption in this category,” said Shouvik Dhar, Co-Founder of Zomoz. Business Standard
Investment Director from The Chennai Angels, Chandu Nair said,
“We at The Chennai Angels (TCA) are excited to back Zomoz, a brand that is redefining the momo category with a powerful combination of technology, scalability, and consumer love. Zomoz stands out with its patented automated manufacturing, strong customer ratings across 70+ locations, and strategic backing from Rebel Foods. We believe Zomoz is uniquely positioned to lead the next phase of growth in this space. We’re proud to support their journey and look forward to their continued success.” Business Standard
The chairman of the Hyderabad Angels, Pradeep Dhobale said,
“Our decision to invest in Zomoz was made after visiting their factory in Hyderabad. We were impressed by the innovative technology deployed, hospital-grade hygiene and cleanliness, and the presence of a well-trained, enthusiastic team with a sharp focus on quality. Shouvik’s strong foundation from DRDO, further refined by an ISB education, combined with the support of Akash and Shreyas, formed a highly capable and committed leadership team with expertise across strategy, technology, marketing, and finance. Ultimately, the irresistible taste and aroma of Zomoz products sealed the deal.” Business Standard
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same) Business Standard
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