Momofuku Cooks Up Nearly $30M Investment

Momofuku Goods has raised just shy of another $30 million, according to a recent SEC filing.

The company sells dried Asian noodles, chili crisp, and other sauces both online and in retail and specialty grocery channels.

An SEC Form D filed yesterday noted that nearly $27 million of a $30 million share offering had been sold in the private company. It’s the third major raise for Momofuku Goods, which had previously brought on rounds of $17 million and $11.5 million in 2023.

Key investors in the brand include Alliance Consumer Growth, Siddhi Capital, RSE Ventures and Magic Spoon founder Gabi Lewis.

The round was led by key investors including Siddhi and ACG, Momofuku Goods CEO Paddy Spence told Nosh. No new investors were included in the round, he added.

The Asian food company, spun out of Chef David Chang’s restaurant and media empire, brought on Spence, a longtime consumer products executive, as its CEO in February to help scale the brand’s presence, the company said at the time. Spence brings over 30 years of CPG experience to the role, having led Zevia, SPINS and Kashi, among others.

Spence took the role over from Marguerite Mariscal, who co-founded the CPG brand alongside Chang and the Momofuku restaurant team back in 2019. Mariscal remains on the brand’s board and CEO of the restaurant business.

The company’s products are available in over 11,000 retail stores nationwide, including Whole Foods, Target, Safeway, Costco and more.

According to an announcement earlier this year, the brand’s noodle line achieved 100% year-over-year growth, outpacing category leaders despite offering a smaller assortment with only three SKUs.

Nosh sent a few questions to Spence after the raise; here’s the Q and A:

What are you hoping to do with this money – why was it necessary to raise right now?

It wasn’t strictly necessary to raise right now. But we saw an opportunity to further strengthen the business and position ourselves for long-term growth. In a world that feels increasingly uncertain, we wanted to make sure we had the resources to stay focused on our mission.

That mission remains the same: growing the global flavors movement, changing the way Americans eat, and bringing restaurant-quality innovation to the grocery aisle. This funding allows us to keep building toward that future with resilience.

How is your retail vs. online mix shifting?

2024 was the first year where retail became the majority of our business. It’s a major milestone that reflects how far we’ve come—and how much demand there is for our products on grocery shelves across the country.

What’s the brand’s biggest challenge right now?

Rather than a challenge, we see it as a priority: continuing to make our flavors accessible to more people. One of our core values is to meet people where they are—and that’s guiding our approach as we grow. Whether it’s price, placement, or format, we want Momofuku Goods to feel within reach for more customers, without compromising the quality or innovation we’re known for.