Highlights
Boba Bhai Secures Funding to Enhance Growth Strategies
Boba Bhai, a fast-casual restaurant (QSR) brand specialising in bubble tea and a variety of food items, has successfully raised Rs 30 crore (approximately $3.4 million) during its Series A funding round. This round was spearheaded by 8i Ventures and included contributions from several existing investors, such as Titan Capital Winners Fund, Global Growth Capital, and DEVC, among others.
Previously, in April of last year, the startup secured Rs 12.5 crore in its seed funding round, which was also led by Titan Capital and Global Growth Capital UK.
Plans for Expansion
The capital raised will be strategically allocated to:
- Expand the brand’s footprint into new cities
- Scale operations within current markets
- Introduce innovative menu offerings
- Explore new sub-brands
Furthermore, Boba Bhai aims to enhance its operational capabilities to provide an improved customer experience across all locations.
About Boba Bhai
Founded by Dhruv Kohli, Boba Bhai is developing a QSR chain focused on bubble tea and K-Pop burgers, with ambitions for international expansion. Currently, the brand operates 42 outlets across nine cities, including Bengaluru, Mumbai, Chennai, Hyderabad, and Delhi. Kohli has stated plans to open over 150 stores by the end of this year.
Impressive Metrics
The startup reports an impressive average order value exceeding Rs 400, along with a notable repeat customer rate of 48%. According to the company, around 70% of orders are placed through its website and third-party platforms like Zomato, Swiggy, and ONDC, while the remaining 30% are generated through its physical outlets.