Millennial generation is redefining our economy. From creating the ever growing e-commerce category, it has now helped push the ‘Momo’ economy. ‘Momo’, the millennial staple diet, has just got a big leg up. The Indian Angel Network (IAN) has invested 10 crore rupees in ‘Wow! Momo’. The deal values the quick service chain at about 100 crore. The investment represents faith in a food category that has become almost omnipresent: A modular kitchenette and a pair of gloves clad hands serving long queues hot piping ‘Momos’ in almost each and every street of urban India. The ‘Momo’ economy success is a function of undying appetite for fast food. Given the footfalls, it is important to build an ecosystem that sustains and grows bottom of the pyramid entrepreneurship. Formal funding has to chase small informal enterprise to help it grow into a chain.
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