F&B software startup Momos raises US$6.5m seed funds from Sequoia, Alpha Wave

MOMOS, a software startup for the F&B industry, has raised US$6.5 million in seed funding co-led by Sequoia Capital India and early-stage venture fund Alpha Wave Incubation.

Other investors in the round include K3 Ventures, Captii Ventures, Hong Kong-based Integrated Capital, HOF Capital, JIA Group and angel investors from global food delivery and software companies, Momos announced in a press statement on Thursday.

Founded by ex-Grab, Uber, Microsoft, and Intuit executives, Momos provides a unified interface for restaurants to work across the food delivery platforms and social media. Its marketing, customer service, and analytics tools aim to help restaurants manage all of their online operations.

The Singapore-based startup is now working with The Lo & Behold Group, Flash Coffee, Guzman y Gomez, and Wolf Burgers, as well as virtual brands such as Tree Side Nasi Lemak, COOP by Neon Pigeon, and Curry Fried Chicken. It will use the fresh capital for global expansion.

"Restaurants are facing the same challenges everywhere; we have ambitions of building a global company from Singapore to address their needs and will continue investing heavily as part of our international strategy," said Momos co-founder Andrew Liu, who previously co-founded Grab's e-scooter venture GrabWheels, according to his LinkedIn profile.

"We are big believers in foodtech and food delivery," said Anirudh Singh of Alpha Wave Incubation, which is managed by Falcon Edge Capital and backed by DisruptAD, the venture arm of Abu Dhabi investment firm ADQ.

"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 Mr Singh.