Boba Bhai raises Rs 30 Cr in Series A funding
Boba Bhai plans to use the funding for brand expansion, increase penetration, and add more menu offerings, including ice-creams, and add more sub-brands.
Boba tea and Korean fusion food brand Boba Bhai has raised Rs 30 crore in a round led by 8i Ventures. The round also saw participation from Titan Capital Winners Fund, Global Growth Capital, DEVC, and existing investors.
The Bengaluru-based company said it will use the funding to expand its presence to new cities and scale operations in existing markets. It also plans to introduce innovative menu offerings and look at new sub-brands tailored to evolving consumer tastes.
Additionally, Boba Bhai is looking to roll out its Korean inspired ice-cream range nationwide. It is currently available in select Bengaluru outlets.
"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,” said Dhruv Kohli, Founder and CEO, Boba Bhai.
“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's team, and are delighted to partner with them,” said Vishwanath V, General Partner at 8i Ventures.
Founded in October 2023, the company has presence in over nine cities and processes over 80,000 monthly orders.
Edited by Megha Reddy