Boba Bhai, a quick-service restaurant (QSR) brand specialising in bubble tea and Korean street food, has raised Rs 40 crore in a new funding round. The investment was led by 8i Ventures, with additional participation from Titan Capital Winners Fund, Global Growth Capital, BIG Capital, Zeropearl VC, and various angel investors.
The company announced the news on their LinkedIn.
The company operates within the Indian market and has rapidly expanded its physical footprint since its inception. Currently, Boba Bhai manages a network of over 90 store locations across the country, serving a high volume of customers with its signature beverages and Korean-inspired food items.
The newly secured funds will support several key growth initiatives. The company plans to expand its physical store network into more cities across India and introduce new items to its existing menu. Boba Bhai also aims to diversify its revenue streams by expanding its packaged food line into the FMCG segment, while investing in strengthening its internal operations and leadership team to support future growth.
The company’s expansion and daily operations are led by Dhruv Kohli. In its funding announcement, the company also acknowledged the contributions of key team members who played an important role in reaching this milestone, including Vidha Sollanki, Sharath Kumar, Kishore SM, Atharv Johri, Kapil Bhatia, Vikram Kumar Chawla, Benaka Gumbira, Kiran Kumar, Bharath N S, Sharmila Hevilambi, and Sowmya B.
