In a recent LinkedIn post, Mohit Sadaani, MD of DeVC, shared his excitement about doubling down on DeVC’s partnership with Dhruv Kohli and Boba Bhai. The announcement came alongside the news of Boba Bhai securing a ₹30 crore follow-on investment led by 8i Ventures, with participation from Titan Capital, Global Growth Capital, and DeVC.
DeVC made its initial investment in Boba Bhai in April 2024, impressed by Dhruv Kohli’s exceptional track record and glowing recommendations from DeVC Collective members, including Aakrit Vaish and Miten Sampat (peercheque), Harshil and Shashank (Mars Shot Ventures), and Arjun Vaidya.
Mohit Sadaani’s LinkedIn Post Highlights Boba Bhai’s Remarkable Journey
According to Mohit, Boba Bhai has exceeded all expectations in its first year. The brand fulfills 80,000 orders per month with an average order value (AOV) of ₹400, translating to ₹3.2 crore in monthly sales. This rapid growth is bolstered by overwhelming customer love, which DeVC experienced firsthand during diligence visits to Boba Bhai outlets. The team has also expanded its product portfolio, with plans to launch its own ice cream following extensive culinary R&D.
Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions
Looking ahead, Boba Bhai has ambitious growth plans. It aims to scale from 42 outlets to over 150 by the end of this year—an upward revision from its earlier target of 100 stores by December 2025. Additionally, the business plans to expand its CPG (consumer packaged goods) range, enter Quick Commerce channels, and strengthen its presence in Tier-2 and Tier-3 cities.
Continue Exploring: The End of a Retail Era: Neville Noronha Checks Out, Anshul Asawa Checks In
Aakash Kumar, Mohit’s partner at DeVC, praised Dhruv’s ability to scale rapidly and diversify the business from QSR to FMCG products and beyond. Mohit concluded by expressing his enthusiasm for the partnership, describing it as a journey to bring K-culture to India at an unprecedented scale.
