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Funding · Commerce & Consumer Brands

Boba Bhai raises $4.3M to expand stores and product line

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Date
Company
Boba Bhai
What it does
QSR brand selling Korean-inspired food and bubble tea
Kind
Funding
Amount
$4.4 Mn
Stage
Series A
Founded
2023
Sector
Commerce & Consumer Brands

What they do

Boba Bhai is a quick service restaurant (QSR) brand selling Korean-inspired food and bubble tea, operating in India

What happened

The startup raised $4.3 million in a funding round co-led by 8i Ventures, Titan Capital Winners Fund, and Global Growth Capital, with participation from BIG…

Why it matters

The capital will be used to expand store count from 90 to 300 in 12–14 months, enter new cities, and launch new products tailored for quick-commerce platforms

The details

  • Boba Bhai, a quick service restaurant (QSR) brand, raised $4.3 million in a funding round co-led by 8i Ventures, Titan Capital Winners Fund, and Global Growth Capital.
  • The round also saw participation from BIG Capital and several angel investors, including CRED’s Kunal Shah, Tracxn cofounder Abhishek Goyal, and ex-Flipkart CTO Mekin Maheshwari.
  • The startup plans to use the funds to expand its store count from 90 to 300 in 12–14 months, enter new cities like Ahmedabad, Kolkata, and Pune, and launch new products tailored for quick-commerce platforms.
  • Boba Bhai, founded in 2023 by Dhruv Kohli, focuses on Korean-inspired fusion cuisine and bubble tea, with over 45 bubble tea flavors and Korean-style burgers, fried chicken, and rice and noodle bowls.
  • The brand operates a mix of dine-in outlets and cloud kitchens, with around 55 stores offering seating and the rest functioning as delivery hubs.
  • Boba Bhai joined Blinkit last February with a packaged bubble tea variant featuring a 270-day shelf life and spill-proof seal.
  • The company reported a 500% increase in net revenue to ₹30 crore in FY25 from ₹5 crore in FY24, with losses doubling to ₹4 crore.

The bigger picture

  • Boba Bhai’s expansion is driven by growing demand for Asian-inspired food formats in India’s QSR market.
  • The startup aims to cross ₹100 crore in annual recurring revenue (ARR) within the next two months.
  • The company is positioning itself as a fast-growing brand in the QSR sector with strong investor backing.

About the business

  • Boba Bhai is a QSR brand specialising in Korean-inspired fusion cuisine and bubble tea, with a menu that includes over 45 bubble tea flavors, Korean-style burgers, fried chicken, rice and noodle bowls, and fries.
  • The brand operates a mix of dine-in outlets and cloud kitchens, with around 55 stores offering seating and the rest functioning as delivery hubs.
  • Boba Bhai sells its products through its stores and foodtech platforms like Zomato, Swiggy, and Blinkit.
  • The company recently launched a packaged bubble tea variant with a 270-day shelf life and spill-proof seal, available on Blinkit.
  • Boba Bhai’s revenue increased from ₹5 crore in FY24 to ₹30 crore in FY25, with losses doubling to ₹4 crore.

What happens next

  • Boba Bhai plans to expand to cities like Ahmedabad, Kolkata, and Pune in the latter half of 2026.
  • The company aims to cross ₹100 crore in annual recurring revenue (ARR) within the next two months.
  • Boba Bhai will focus on strengthening its presence in eight existing cities during the first half of 2026.

The deal

Type
funding

Investors

  • 8i Ventures (co-led) — Venture capital firm focused on early-stage startups.
  • Titan Capital Winners Fund (co-led) — Investment fund supporting high-growth startups.
  • Global Growth Capital (co-led) — Venture capital firm investing in scalable businesses.
  • BIG Capital (participated) — Private equity firm focused on consumer and tech sectors.
  • CRED’s Kunal Shah (participated) — Co-founder of CRED, a fintech company.
  • Tracxn cofounder Abhishek Goyal (participated) — Co-founder of Tracxn, a startup data analytics platform.
  • ex-Flipkart CTO Mekin Maheshwari (participated) — Former CTO of Flipkart, an e-commerce giant.

Founders

  • Dhruv Kohli, Founder and CEO

About Boba Bhai

Product
fusion food brand
Customers
Young consumers buying quick-service food and beverages
How it makes money
Operates QSR outlets and cloud kitchens selling food, drinks and packaged products
What sets it apart
Built around Korean-inspired fusion cuisine and bubble tea, with both food and drinks contributing meaningfully to revenue

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