Bengaluru-based quick service restaurant startup Boba Bhai has raised $4.3 million (approximately Rs 40 crore) in a new funding round from its existing investors. The round was backed by 8i Ventures, Titan Capital Winners Fund, and Global Growth Capital, along with participation from Big Capital and several angel investors.
The company had earlier raised Rs 30 crore (around $3.4 million) in a Series A funding round led by 8i Ventures in January last year. Before that, it secured Rs 12.5 crore in seed funding from Titan Capital and Global Growth Capital UK.
Funds to Support Expansion and New Products
According to the company, the fresh capital will be used to accelerate store expansion across India, strengthen its leadership team, and introduce new products.
Founded in 2023 by Dhruv Kohli, Boba Bhai focuses on Korean-inspired fusion cuisine and bubble tea. The brand operates a mix of dine-in outlets and cloud kitchens and plans to scale up to 300 stores by 2026.
Korean Fusion Food and Bubble Tea
Boba Bhai’s menu includes more than 45 bubble tea flavours, Korean-style burgers, Korean fried chicken, rice and noodle bowls, and fries. Some of its offerings include gochujang burgers and K-pop-inspired dishes, along with packaged beverages.
The brand operates both offline outlets and delivery-focused kitchens, while also leveraging quick commerce platforms such as Swiggy, Zomato and Blinkit for high-volume deliveries.
Rapid Growth and Revenue Expansion
According to the company, its quick commerce business is growing 40–50% month-on-month. Boba Bhai plans to expand its presence across more platforms and cities in the coming months.
The startup aims to cross Rs 100 crore in annual recurring revenue (ARR) within the next two months.
In terms of financial growth, the company reported Rs 5 crore revenue in FY24, which increased significantly to Rs 30 crore in FY25.
Currently, Boba Bhai operates around 90 outlets across India, of which about 55 locations offer dine-in seating, while the remaining outlets function primarily as delivery hubs.
With strong investor backing and growing demand for Asian-inspired food formats in India, Boba Bhai is positioning itself as a fast-growing brand in the country’s QSR market.
-By Shivani Solanki
