Boba Bhai, a rapidly growing quick-service restaurant (QSR) brand specializing in bubble tea and innovative food offerings, has secured Rs 12.5 crore in its seed funding round. Titan Capital and Global Growth Capital UK led the investment, with notable participation from high-profile investors, including Arjun Vaidya, Marsshot VC, DEVC, and others.
The funds will primarily fuel Boba Bhai’s expansion plans, which focus on hiring, diversifying its product line, and extending its presence throughout India.
Established by Dhruv Kohli in October 2023, Boba Bhai has quickly gained traction in the market. In just six months, it processed over 50,000 monthly orders and expanded to 25 outlets across seven major cities, including Delhi, Gurugram, and Bengaluru. With an average order volume of Rs 400, the brand has demonstrated strong consumer demand for its offerings.
The company’s unique blend of bubble tea and K-Pop burgers has attracted attention, positioning Boba Bhai as a distinctive player in the QSR space. The firm currently boasts an annual revenue run rate (ARR) of Rs 24 crore and a monthly revenue run rate (MRR) of Rs 2 crore. With ambitious growth targets, it aims to achieve an ARR of Rs 60-65 crore by December 2024.
The success of Boba Bhai reflects the growing trend of innovative QSR concepts gaining popularity among Indian consumers. This funding round comes amidst similar investments in the sector, such as Kolkata-based QSR chain Wow! Momo’s recent Rs 70 crore funding from Z3 Partners.
With its fresh capital infusion, Boba Bhai is well-positioned to further revolutionize the QSR landscape, both domestically and potentially globally.
