Bubble Tea Brand Boba Bhai Gets Rs 30 Cr In Funding

Boba Bhai, a quick-service restaurant (QSR) brand known for bubble tea and other food items, has raised INR 30 Cr (about $3.4 Mn) in a Series A funding round led by 8i Ventures. 

Existing investors like Titan Capital Winners Fund, Global Growth Capital and DEVC also participated in the round.

The startup will use the fresh funds to expand into cities like Pune and Ahmedabad, grow its operations, introduce new Korean dishes and create new sub-brands.

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Dhruv Kohli, founder of Boba Bhai, said, “Over the past nine months, we’ve witnessed incredible growth, driven by our commitment to innovation, quality, and customer satisfaction. With the strategic backing of our investors, we are well-positioned to scale our operations, introduce exciting new offerings, and establish Boba Bhai as the go-to QSR brand for the next generation of Indian consumers.”

According to Kohli, the startup aims to open over 150 stores by the end of this year and has already generated INR 8 Cr in revenue within its first six months.

The startup is currently in nine cities, including Bengaluru, Hyderabad, Mumbai, Delhi, Gurugram, Noida, Mangalore, Udaipur, and Chennai, and plans to double its reach.

In April 2023, Boba Bhai raised Rs 12.5 Crore in funding led by Titan Capital and Global Growth Capital UK. The round also saw participation from other investors, including V3 Ventures cofounder Arjun Vaidya, Marsshot VC (RazorPay founders’ fund), DEVC, Warm Up Ventures, mamaearth co-founder Varun Alagh and PeerCheque among others.

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About Boba Bhai

Bengaluru-based Boba Bhai was founded in  2023 by Dhruv Kohli, it is a quick-service restaurant (QSR) brand specializing in bubble tea in 45 flavours, K-Pop burgers with an Indian twist and other food items. 

The startup handles more than 85,000 orders each month and runs 42 outlets in nine cities. It has an average order value of over INR 400 and a repeat customer rate of 48%.

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