The latest round took the startup’s total funding to INR 42.5 Cr ($4.9 Mn) till date
The startup plans to deploy the fresh proceeds to expand into newer cities such as Pune and Ahmedabad, scale operations, roll out new Korean offerings and develop new sub-brands
Boba Bhai processes over 85,000 monthly orders and operates 42 outlets across nine cities. The startup boasts an average order value of over INR 400 and a repeat customer rate of 48%
Bengaluru-based Boba Bhai, a quick-service restaurant (QSR) brand specialising in bubble tea and other food items, has secured INR 30 Cr (around $3.4 Mn) in a Series A funding round led by 8i Ventures.
The round also saw participation from a host of existing investors, including Titan Capital Winners Fund, Global Growth Capital and DEVC among others.
The startup plans to deploy the fresh proceeds to expand into newer cities such as Pune and Ahmedabad, scale operations, roll out new Korean offerings and develop new sub-brands.
The latest round took the startup’s total funding to INR 42.5 Cr ($4.9 Mn) till date.
Founded in 2023 by Dhruv Kohli, Boba Bhai sells bubble tea in 45 flavours and K-Pop burgers with an Indian twist.
In April last year, Boba Bhai raised INR 12.5 Cr from Titan Capital and Global Growth Capital UK, along with participation from other investors, including V3 Ventures cofounder Arjun Vaidya, Marsshot VC (RazorPay founders’ fund), DEVC, Warm Up Ventures, Mamaearth cofounder Varun Alagh and PeerCheque among others.
Currently, the brand has a presence in nine cities, including Bengaluru, Hyderabad, Mumbai, Delhi, Gurugram, Noida, Mangalore, Udaipur and Chennai and aims to double its presence.
As per Kohli, the startup is looking to open over 150 stores by the end of this year.
Kohli claimed that the startup has achieved revenues of INR 8 Cr within its first six months of operations.
Speaking on the funding, Kohli 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.”
Boba Bhai processes over 85,000 monthly orders and operates 42 outlets across nine cities. The startup boasts an average order value of over INR 400 and a repeat customer rate of 48%.
Per the founder, he aims to capture 75-80% of India’s bubble tea market share.
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