Bengaluru-based QSR brand Boba Bhai, known for its bubble tea and unique food offerings, has raised ₹30 crore (approximately $3.4 million) in a Series A funding round led by 8i Ventures. The round also saw support from existing investors, including Titan Capital Winners Fund, Global Growth Capital, and DEVC, among others.
The fresh capital will be used to expand into new cities such as Pune and Ahmedabad, scale up operations, introduce Korean-inspired menu items, and create new sub-brands. With this latest round, Boba Bhai’s total funding now stands at ₹42.5 crore (around $4.9 million).
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Founded in 2023 by Dhruv Kohli, Boba Bhai has quickly made a mark with its 45 bubble tea flavors and K-Pop-inspired burgers infused with an Indian twist. The startup operates in nine cities, including Bengaluru, Hyderabad, Mumbai, Delhi, and Chennai, and plans to double its footprint by opening over 150 stores by the end of the year.
The company initially raised ₹12.5 crore in April 2024 from Titan Capital, Global Growth Capital UK, and a lineup of prominent investors such as V3 Ventures cofounder Arjun Vaidya, Warm Up Ventures, Razorpay’s founders’ fund Marsshot VC, Mamaearth cofounder Varun Alagh, and PeerCheque.
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In its first six months, Boba Bhai achieved revenues of ₹8 crore, a testament to its rapid growth. Founder Dhruv Kohli attributed the success to the brand’s focus on innovation, quality, and customer satisfaction.
“Over the past nine months, we’ve experienced remarkable growth, which reflects our dedication to delivering unique and high-quality experiences to our customers. With the backing of our investors, we’re excited to scale further, introduce new products, and establish Boba Bhai as the top choice for India’s next generation of QSR consumers,” Kohli said.
