Boba Bhai, a Bengaluru-based quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised ₹30 crore in its Series A funding round led by 8i Ventures. The round also saw participation from Titan Capital Winners Fund, Global Growth Capital, DEVC and existing investors.
The funds raised will be used to expand its brand’s presence to new cities, scale operations in existing markets, and introduce innovative menu offerings. Additionally, Boba Bhai aims to strengthen its operational capabilities and deliver enhanced customer experiences across its locations.
Boba Bhai’s immediate plans include expanding its presence to new regions and rolling out its highly anticipated Korean-inspired ice cream range nationwide. Currently available in select Bengaluru outlets, the brand aims to make these ice creams accessible to customers across India.
Boba Bhai had previously raised ₹12.5 crore in its seed round in April last year, led by Titan Capital and Global Growth Capital UK.
Dhruv Kohli, Founder and CEO, Boba Bhai, said, “This investment marks a pivotal milestone in our journey to gain more market share in Bubble Tea and build the world’s largest Bubble Tea and K-pop QSR Chain from India. 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.”
Vishwanath V, General Partner at 8i Ventures, said, “Boba Bhai is the clear market leader of the bubble tea category and is a much loved brand among the GenZ in India. We were struck by the velocity and the operational excellence demonstrated by Dhruv & team and are delighted to partner with them.”
Shiv Kapoor, Vice President at Titan Capital Winners Fund, said, “We are delighted to back Boba Bhai in this latest round. Having been amongst the first investors in the company, we have seen Dhruv’s execution chops. He has quickly built a business with strong economics and customer love. We believe Boba Bhai will become synonymous with the embracing of Korean pop culture in India.”
Boba Bhai is a QSR brand that sells bubble tea in 45 flavours and K-Pop burgers with an Indian twist.
Boba Bhai currently operates 42 outlets across nine cities, including Bengaluru, Mumbai, Chennai, Hyderabad, and Delhi. With plans to open over 150 stores by the end of the year, the startup aims to solidify its market presence.
Boba Bhai claims to process over 80,000 monthly orders and achieve a strong repeat order rate of 48%. The brand is already profitable at the store level and expects company-wide profitability within the next 8–10 months.
