Boba Bhai secures INR 30 crore in Series A funding led by 8i Ventures

The fastest-growing Korean fusion cuisine and Boba tea company in India, ‘Boba Bhai’ has raised INR 30 crore in its Series A fundraising round. Global Growth Capital, DEVC, Titan Capital Winners Fund, and current investors joined 8i Ventures in leading the round. The quick expansion and market dominance of Boba Bhai after its October 2023 launch are demonstrated by this funding. 

The funds will be used to scale operations in current markets, create new sub-brands that are suited to changing customer preferences, launch creative menu items, and increase the brand's visibility in new locations. Boba Bhai also wants to improve customer experiences at all of its sites and bolster its operational expertise.

Speaking on the funding round, Dhruv Kohli, Founder and CEO, Boba Bhai, said, “This investment marks a pivotal milestone in our journey to gain more market share in Bubble Tea and build the world’s largest Bubble Tea and K-pop QSR Chain from India. Over the past nine months, we’ve witnessed incredible growth, driven by our commitment to innovation, quality, and customer satisfaction. With the strategic backing of our investors, we are well-positioned to scale our operations, introduce exciting new offerings, and establish Boba Bhai as the go-to QSR brand for the next generation of Indian consumers.”

The investors were drawn to Boba Bhai’s impressive performance metrics, including strong growth, high customer repeat rates, and its ability to lead the fusion QSR segment with innovative product offerings.

“Boba Bhai is the clear market leader of the bubble tea category and is a much-loved brand among the GenZ in India. We were struck by the velocity and the operational excellence demonstrated by Dhruv & team and is delighted to partner with them,” shares Vishwanath V, General Partner at 8i Ventures.

Shiv Kapoor, Vice President at Titan Capital Winners Fund notes, “We are delighted to back Boba Bhai in this latest round. Having been amongst the first investors in the company, we have seen Dhruv’s execution chops. He has quickly built a business with strong economics and customer love. We believe Boba Bhai will become synonymous with the embracing of Korean pop culture in India.”

Boba Bhai's immediate plans include expanding its presence to new regions and launching its highly anticipated Korean inspired ice cream range nationwide, which is currently available in select Bengaluru outlets and aims to make these ice creams accessible to customers across India. This funding supports Boba Bhai's vision of redefining the Indian F&B landscape and creating a legacy as a category-defining brand in the fusion QSR space.