Momos, a Singapore-based SaaS platform for the F&B industry, has raised $6.5 million in a seed funding round co-led by Sequoia Capital India and Alpha Wave Incubation (AWI), according to an announcement.
Global investors K3 Ventures, Captii Ventures, Hong-Kong-based Integrated Capital, HOF Capital, JIA Group, and leading angel investors from global food delivery and software companies also participated in the round.
Founded in 2020 by foodtech professionals from Grab, Uber, Microsoft and Intuit, Momos platform helps restaurants maximise revenue and growth through its marketing, reviews and analytics platform.
Through its SaaS platform, Momos aims to solve this problem globally by providing a unified interface for restaurants to work across the food delivery platforms, social media, and other online channels.
The latest funding will support the company’s global expansion plans, ability to continue delivering value to its restaurant partners, and further build out the Momos platform.
According to Momos co-founder and chief business officer Andrew Liu, the region is a hotbed for talent and is an amazing place to build a global SaaS.
“F&B is a large and evergreen market with several multi-billion-dollar companies serving the cost side of restaurant operations such as delivery, POS payments, etc.” said Aakash Kapoor, VP, Sequoia India. “Momos has built a unique and compelling SaaS platform to instead help restaurants grow their business.”
“Our thesis is that F&B will continue to grow online; Momos fits directly into that by providing the tools and platform to allow restaurants to embrace and manage this growth,” said Anirudh Singh from AWI.