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Boba Bhai Secures ₹30 Crore in Funding to Expand Bubble Tea QSR Chain

A smiling man, Dhruv Kohli, wearing a dark polo shirt, is featured on the left. The background has a pastel pink and blue design with bubble tea glasses on the right. A playful text logo, 'Boba Bhai,' hangs at the top with orange chains. The text below his name reads 'Founder, Boba Bhai.
By
Anurag Trivedi
2 min read

Boba Bhai, a Bengaluru-based quick-service restaurant (QSR) chain specializing in bubble tea and Korean-inspired cuisine, has successfully raised ₹30 crore (approximately $3.4 million) in a Series A funding round. The round was led by 8i Ventures, with participation from existing investors including Titan Capital, Global Growth Capital, and DEVC.

Utilization of Funds:

  • Geographical Expansion: The fresh capital will facilitate Boba Bhai's entry into new markets, specifically targeting cities like Pune and Ahmedabad, with the goal of doubling its current presence by the end of the year.
  • Operational Scaling: Funds will be allocated to scale operations, enhancing supply chain efficiency and expanding the workforce to support growth.
  • Menu Diversification: The startup plans to introduce new Korean-inspired offerings and develop sub-brands to cater to evolving consumer preferences.

Company Milestones:

  • Rapid Growth: Since its inception in 2023 by founder Dhruv Kohli, Boba Bhai has expanded to 42 outlets across nine cities, including Bengaluru, Hyderabad, Mumbai, Delhi, Gurugram, Noida, Mangalore, Udaipur, and Chennai.
  • Customer Metrics: The brand processes over 85,000 monthly orders, boasts an average order value exceeding ₹400, and maintains a repeat customer rate of 48%.
  • Revenue Achievement: Boba Bhai reported revenues of ₹8 crore within its first six months of operations.

Founder’s Vision:

Founder and CEO Dhruv Kohli expressed confidence in the company's trajectory, stating, "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."

Market Context:

The quick-service restaurant sector in India is experiencing significant growth, with the bubble tea segment gaining rapid popularity among Gen Z consumers. Boba Bhai aims to capture 75-80% of India's bubble tea market share, leveraging its innovative menu and strategic expansion plans to meet the increasing demand.

Our Opinion on the News:

Boba Bhai's successful Series A funding round underscores the growing investor confidence in India's quick-service restaurant sector, particularly within niche segments like bubble tea. The company's rapid expansion and strong customer metrics reflect a robust business model poised to capitalize on evolving consumer preferences. By leveraging this new capital to enter additional markets and diversify its menu offerings, Boba Bhai is strategically positioned to become a dominant player in India's QSR landscape.