Physical Businesses Deserve AI Too as Momos Secures $10 Million Funding

Build, Build, Build. This mantra resonates deeply within the walls of Momos, a Singapore and United States-headquartered artificial intelligence (AI)-powered customer platform, founded in 2021 by Sai Alluri and Andrew Liu. Their journey is marked by resilience, innovation, and an unwavering commitment to revolutionizing the food and beverage (F&B) industry. Recently, Momos announced a significant milestone, raising $10 million in Series A funding led by 645 Ventures, bringing their total capital raised to $17 million. This influx of resources will accelerate their mission to transform how multi-location businesses engage with their customers.

As the global pandemic forced restaurants to pivot online, Alluri and Liu recognized a significant gap in the market. Having previously launched successful food delivery services at Uber Eats and GrabFood, they witnessed firsthand the struggles of restaurants grappling with the complexities of managing customer interactions across multiple platforms. With a vision to streamline these operations, they set out to build a comprehensive solution that harnessed the power of AI.

Momos aims to simplify the customer lifecycle for businesses in the F&B and retail sectors, offering tools that manage everything from marketing to customer service. With a platform that automates these processes, restaurants can focus on what they do best: creating delicious food that brings joy to diners. “Physical businesses deserve AI too,” Alluri emphasized, noting that before Momos, managing multiple customer touchpoints was nearly impossible for many brands.

Momos is already making waves, serving thousands of businesses globally, including well-known names like Shake Shack, Baskin Robbins, and Guzman y Gomez, and operating in ten countries across North America, Asia Pacific (APAC), and the Middle East. Their platform empowers restaurant operators to enhance customer experiences while increasing sales and retention—demonstrating a remarkable 10x return on investment (ROI) for partners.

Co-founder and Managing Partner of 645 Ventures, Nnamdi Okike, is joining the board, bringing over a decade of experience investing in vertical SaaS, including notable companies like Squire, LeagueApps, and Lunchbox. “There are millions of brick-and-mortar businesses globally, but existing tools are just not built to solve problems at each location,” he stated.

“Momos has built this true ‘Compound Startup’ and is the all-in-one customer platform for multi-location brands. It’s a game changer, and we’re excited to partner with Sai and Andrew to spearhead this underserved market,” said Mendy Yang, Senior Associate at 645 Ventures.

“We’re outcomes-focused and drive 10 times return on investment (ROI) for our partners,” Liu explained. Their analytics capabilities enable restaurant operators to track revenue, orders, and marketing spend all in one location, helping them make data-driven decisions.

The technology behind Momos is designed to address the unique challenges faced by the F&B industry in a post-pandemic world. With features that centralize content management, streamline customer interactions, optimize digital marketing efforts, and provide comprehensive analytics, Momos stands out as a game-changer. “We’re solving a real problem that exists for multi-location businesses and their customers,” Alluri stated, emphasizing the importance of their daily usage by over 90% of partners.

The funding will be pivotal as Momos looks to expand internationally, with plans to launch in the U.S. and broaden its reach across APAC. The company is driven by feedback from its early restaurant partners, continuously evolving its platform to meet the dynamic needs of the industry.

As they continue to build and innovate, the founders express gratitude to their early customers, friends, family, and the entire Momos team for their support. “The best is yet to come,” Alluri and Liu affirm, inviting new talent to join their mission of reshaping the future of the food and beverage industry.