BIG Capital, CRED’s Kunal Shah, Tracxn cofounder Abhishek Goyal and ex-Flipkart CTO Mekin Maheshwari also participated in the round
The fresh capital would be used to expand its store count in Tier I cities, while also entering Tier II markets and launching new products
Boba Bhai claimed that the round was raised at a valuation 5X higher than its previous funding round of ₹30 Cr (around $3.4 Mn) in January last year
Quick service restaurant (QSR) brand Boba Bhai has secured $4.4 Mn (₹40.62 Cr) in fresh capital in a funding round co-led by existing backers 8i Ventures, Titan Capital Winners Fund and Global Growth Capital.
Other investors including BIG Capital, CRED’s Kunal Shah, Tracxn cofounder Abhishek Goyal and ex-Flipkart CTO Mekin Maheshwari also participated in the round. Boba Bhai claimed that the round was raised at a valuation 5X higher than its previous funding round of ₹30 Cr (around $3.4 Mn) in January last year.
The fresh capital would be used to expand its store count in Tier I cities, while also entering Tier II markets and launching new products tailored for quick-commerce platforms.
Boba Bhai’s founder Dhruv Kohli told Inc42 that the startup will also focus on expanding its presence across FMCG channels while introducing more products in the Korean food range.
“This capital will take us from 92+ stores to around 300 stores in 12 to 14 months. While we will focus on strengthening our presence across the eight cities we already operate in during the first half of 2026, we plan to expand to cities such as Ahmedabad, Kolkata and Pune in the latter half of the year,” he said.
Founded in 2023 by Kohli, Boba Bhai is a QSR brand built around Korean delicacies like bubble tea, fusion burgers, ice cream, and fries. It primarily sells its products via its stores and foodtech platforms Zomato and Swiggy.
Boba Bhai joined Blinkit last February, with its packaged bubble tea – a ready-to-drink variant featuring a 270-day shelf life and a spill-proof seal.
On the financial front, the Bengaluru-based QSR brand claims that its FY25 net revenue surged 500% to ₹30 Cr in FY25 from ₹5 Cr in the previous fiscal year. The startup loss for the fiscal year doubled YoY to ₹4 Cr. Kohli claims that Boba Bhai’s top line is on track to FY26 with a 2.5X jump from FY25.
With intensifying competition in the consumer segment, most brands have been focusing on expanding their product offerings and expanding their omnichannel presence. To support this bid, many D2C brands have been raising fresh capital in recent times.
For instance, D2C startups like Bonkers Corner, Bubble Me and CURRYiT have raised fresh capital over the past few days.
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