Boba Bhai, the rapidly growing quick-service restaurant (QSR) brand specializing in bubble tea and unique food offerings like K-Pop burgers, has successfully secured Rs 30 crore (approximately $3.4 million) in its Series A funding round. The round was led by 8i Ventures, with participation from existing investors Titan Capital Winners Fund, Global Growth Capital, and DEVC, among others.
This marks a significant milestone for the startup, which had previously raised Rs 12.5 crore in its seed round in April 2024, backed by Titan Capital and Global Growth Capital UK.
The funds will be primarily used to accelerate the expansion of Boba Bhai’s footprint, with plans to scale its presence in existing markets and introduce its offerings to new cities. The startup also aims to diversify its menu by introducing innovative food options and launching new sub-brands. Additionally, Boba Bhai intends to invest in enhancing its operational capabilities to provide an improved customer experience across its locations.
Founded by Dhruv Kohli, Boba Bhai is on a mission to take its bubble tea and K-Pop burgers to global markets. The brand currently operates 42 outlets across nine cities, including major hubs such as Bengaluru, Mumbai, Chennai, Hyderabad, and Delhi. With plans to open over 150 stores by the end of this year, Boba Bhai is set to become a dominant player in the fast-casual dining scene.
The startup boasts an impressive average order value of Rs 400 and a solid repeat customer rate of 48%, signalling strong customer loyalty. Approximately 70% of Boba Bhai’s orders are generated through its website and food delivery platforms like Zomato, Swiggy, and ONDC, while 30% come from its physical stores.
With this new funding, Boba Bhai is poised to further its mission of revolutionizing the bubble tea market and expanding its footprint in the competitive QSR landscape.
