Boba Bhai, the Bengaluru-based bubble tea and QSR brand, has raised INR 30 Cr (approximately $3.4 million) in Series A funding, led by 8i Ventures, with participation from existing investors including Titan Capital Winners Fund, Global Growth Capital, and DEVC.
The funding will be used to fuel the brand’s expansion into new cities such as Pune and Ahmedabad, enhance operations, and introduce Korean-inspired food offerings alongside their popular bubble tea range. Boba Bhai also plans to launch new sub-brands to broaden its market appeal.
Since its founding in 2023 by Dhruv Kohli, Boba Bhai has rapidly grown to offer over 45 bubble tea flavors and K-Pop burgers with a unique Indian twist. The startup has raised a total of INR 42.5 Cr ($4.9 million) to date, including previous rounds in 2023 that saw investments from notable names such as Arjun Vaidya, cofounder of V3 Ventures, and Varun Alagh, cofounder of Mamaearth.
Boba Bhai now operates across nine cities, including Bengaluru, Mumbai, Delhi, and Chennai, and plans to double its presence, targeting over 150 stores by the end of the year. The company has reported revenues of INR 8 Cr within its first six months, processing over 85,000 monthly orders and maintaining a strong repeat customer rate of 48%.
Founder Dhruv Kohli expressed confidence in the startup’s future, stating, “With the strategic support of our investors, we are poised to continue innovating and solidifying Boba Bhai as the leading QSR brand for India’s next generation of consumers.” Kohli aims for the company to capture 75-80% of India’s bubble tea market share in the coming years.
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