Boba Bhai secures US$3.47M in Series A funding round

INDIA – The fastest growing Korean fusion cuisine and bubble tea restaurant chain Boba Bhai has raised INR 300 million (US$3.47 million) in a Series A funding round meant to support its expansion.

The funding round was led by early-stage venture capital firm 8i Ventures, with additional participation from investors such as Titan Capital, Winners Fund, Global Growth Capital, DEVC, and previous backers.

The investment is set to drive the brand’s expansion into new Indian cities, strengthen operations in existing markets, and support the development of innovative menu items and sub-brands tailored to evolving consumer preferences.

Founder and CEO Dhruv Kohli revealed plans to hire senior executives to bolster the leadership team. As part of its strategic growth initiatives, Boba Bhai is also preparing to enter quick commerce platforms.

Currently operating in six cities, the brand aims to expand to India’s top 20 cities, focusing on enhancing operational efficiency and improving customer experiences across all locations.

This funding round follows a previous seed investment of INR 125 million led by Titan Capital and Global Growth Capital UK.

Vishwanath V, General Partner at 8i Ventures, described Boba Bhai as the leading brand in India’s bubble tea market, particularly popular among Gen Z consumers. He commended the company’s rapid growth and operational excellence, expressing enthusiasm about partnering with the team.

Founded in 2023, Boba Bhai offers bubble tea and K-pop-inspired burgers through its outlets. The brand is also preparing to launch a Korean-themed ice cream range nationwide, which is currently in the pilot phase, according to the Economic Times.

Kohli expressed confidence that this new product line would significantly contribute to the company’s revenue growth.

Boba Bhai processes over 80,000 orders monthly, with an average order value of INR 400 (US$4.62). Approximately 70% of these orders come from its website and delivery partners like Zomato, Swiggy, and ONDC, while the remaining 30% are fulfilled through physical stores.

Looking ahead, Kohli highlighted plans to expand into Tier 2 and Tier 3 cities, targeting a presence in 30 cities across India in the coming years.

He emphasized that this investment represents a crucial step toward capturing a larger share of the bubble tea market and building the world’s largest Bubble Tea and K-pop quick-service restaurant chain from India.

Kohli attributed the company’s rapid growth over the past nine months to its focus on innovation, quality, and customer satisfaction, expressing confidence that investor support will enable Boba Bhai to scale operations and solidify its position as a leading QSR brand for the next generation of Indian consumers.

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