Boba Bhai Secures $3.4 Million in Series A Funding to Expand Operations

Boba Bhai, a fast-growing quick-service restaurant (QSR) chain specializing in bubble tea and other food items, has raised $3.4 million (equivalent to Rs 30 crore) in its Series A funding round. The investment was led by 8i Ventures and included participation from existing investors such as Titan Capital Winners Fund, Global Growth Capital, and DEVC.

The latest funding round follows an earlier seed round in April last year, where the startup raised $1.4 million (Rs 12.5 crore) with Titan Capital and Global Growth Capital UK as lead investors. With this new influx of capital, the company aims to expand its footprint to new cities, scale its operations in current markets, and introduce innovative products to its menu. The funding will also support the launch of sub-brands, enhance operational efficiency, and improve customer experiences across its outlets.

Founded by Dhruv Kohli, Boba Bhai is working to establish itself as a global QSR chain by combining its signature bubble tea offerings with unique food items like K-Pop burgers. Currently, the company operates 42 outlets across nine major cities, including Bengaluru, Mumbai, Chennai, Hyderabad, and Delhi. According to Kohli, the company plans to grow its network to over 150 stores by the end of the year, reflecting its ambitious expansion strategy.

The brand has reported a strong performance, with an average order value exceeding $5 (Rs 400) and a repeat customer rate of 48%. Approximately 70% of Boba Bhai’s orders are generated through its website and delivery platforms such as Zomato, Swiggy, and ONDC, while the remaining 30% come from in-store sales.

With the QSR sector witnessing rapid growth in India, Boba Bhai is positioning itself to capitalize on this trend. The company’s latest funding will fuel its plans to strengthen its presence in the domestic market while laying the groundwork for potential global expansion. Through these efforts, Boba Bhai aims to solidify its status as a prominent player in the bubble tea and fast-casual dining segment.