Funding News: QSR Startup 'Boba Bhai' nets 30 crore in Series A

Startup: Boba Bhai

Founder: Dhruv Kohli

About us: Boba Bhai focuses on bubble tea and K-Pop burgers. The brand currently operates 42 outlets in nine cities, including Bengaluru, Mumbai, Chennai, Hyderabad, and Delhi, and has ambitious plans to increase its presence to over 150 stores by the end of the year.

Founded Year: 2022

Office: Bengaluru

Sector: QSR

Funding round: Series A

Investors: 8i Ventures, Titan Capital Winners Fund, Global Growth Capital, and DEVC

A quick-service restaurant (QSR) brand, Boba Bhai, specializing in bubble tea and other food items, has raised 30 crore (approximately $3.4 million) in its Series A funding round. led by 8i Ventures. This marks the company’s second major funding milestone, following a 12.5 crore seed round in April last year, led by Titan Capital and Global Growth Capital UK.

The newly raised funds will be utilized to expand Boba Bhai’s footprint into new cities, scale operations in current markets, introduce innovative menu offerings, and explore new sub-brands. The startup reports an average order value exceeding 400 and a repeat customer rate of 48%. About 70% of its orders are driven by its website and platforms like Zomato, Swiggy, and ONDC, with the remaining 30% coming from in-store sales.

"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,” shared Dhruv Kohli, Founder and CEO, Boba Bhai.

Website: https://www.bobabhai.com/